Kinross Gold (TSE:K) Hits New 12-Month High – Still a Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$39.57 and last traded at C$39.28, with a volume of 1592946 shares trading hands. The stock had previously closed at C$38.35.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on K. National Bankshares lifted their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from C$29.50 to C$37.00 in a report on Thursday, October 2nd. UBS Group upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Monday, August 4th. Finally, Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$29.83.

Kinross Gold Stock Performance

The company has a market cap of C$47.46 billion, a price-to-earnings ratio of 27.50, a PEG ratio of -0.60 and a beta of 1.21. The firm’s 50 day simple moving average is C$34.58 and its 200-day simple moving average is C$27.42. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. The business had revenue of C$2.51 billion during the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. On average, sell-side analysts predict that Kinross Gold Co. will post 1.0071259 EPS for the current year.

About Kinross Gold

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.