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

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

Wall Street Analysts Forecast Growth

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

Kinross Gold Trading Up 1.9%

The company has a market cap of C$57.60 billion, a P/E ratio of 33.37, a P/E/G ratio of -0.60 and a beta of 1.27. The business has a fifty day simple moving average of C$39.12 and a 200 day simple moving average of C$32.51. 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 quarterly earnings results on Tuesday, November 4th. The company reported C$0.44 earnings per share for the quarter. Kinross Gold had a return on equity of 11.72% and a net margin of 15.23%.The business had revenue of C$2.51 billion during the quarter. Analysts anticipate that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal 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. The company has historically used acquisitions to fuel expansion into new regions and production growth.