Kinross Gold (TSE:K) Sets New 52-Week High – Time to Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$48.10 and last traded at C$47.87, with a volume of 483406 shares trading hands. The stock had previously closed at C$46.82.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. National Bankshares upped their price objective on Kinross Gold from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Desjardins set a C$44.00 price objective on shares of Kinross Gold and gave the company a “buy” rating in a research report on Friday, November 28th. Finally, Canaccord Genuity Group boosted their target price on shares of Kinross Gold from C$29.50 to C$37.00 in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$38.88.

Kinross Gold Price Performance

The business has a fifty day moving average price of C$39.12 and a 200 day moving average price of C$32.51. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The company has a market capitalization of C$57.60 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of -0.60 and a beta of 1.27.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. The firm had revenue of C$2.51 billion for the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. On average, research analysts expect that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Kinross Gold Company Profile

Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.