Kinross Gold (TSE:K) Sets New 1-Year High – Time to Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$45.27 and last traded at C$45.19, with a volume of 516972 shares traded. The stock had previously closed at C$43.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Desjardins set a C$44.00 target price on Kinross Gold and gave the company a “buy” rating in a research note on Friday, November 28th. Canaccord Genuity Group raised their price target on shares of Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. Finally, National Bankshares lifted their price target on shares of 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. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and a consensus price target of C$38.88.

Kinross Gold Trading Up 4.7%

The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The company has a market cap of C$54.90 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of -0.60 and a beta of 1.27. The firm has a 50-day moving average price of C$37.81 and a 200 day moving average price of C$31.63.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.44 earnings per share (EPS) for the quarter. Kinross Gold had a return on equity of 11.72% and a net margin of 15.23%.The firm had revenue of C$2.51 billion for the quarter. As a group, sell-side analysts forecast that Kinross Gold Co. will post 1.0071259 EPS for the current 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.