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After A Decline Of -109.09% From The High, Can Kinross Gold Corporation (NYSE: KGC) Recover Quickly?

Kinross Gold Corporation (NYSE:KGC)’s traded shares stood at 8.12 million during the latest session, with the company’s beta value hitting 1.04. At…

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This article was originally published by The Marketing Sentinal

Kinross Gold Corporation (NYSE:KGC)’s traded shares stood at 8.12 million during the latest session, with the company’s beta value hitting 1.04. At the last check today, the stock’s price was $3.41, to imply an increase of 1.34% or $0.04 in intraday trading. The KGC share’s 52-week high remains $7.13, putting it -109.09% down since that peak but still an impressive 12.02% since price per share fell to its 52-week low of $3.00. The company has a valuation of $4.40B, with an average of 22.38 million shares in intraday trading volume over the past 10 days and average of 22.01 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Kinross Gold Corporation (KGC), translating to a mean rating of 2.00. Of 17 analyst(s) looking at the stock, 0 analyst(s) give KGC a Sell rating. 2 of those analysts rate the stock as Overweight while 6 advise Hold as 9 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.07.

Kinross Gold Corporation (NYSE:KGC) trade information

After registering a 1.34% upside in the latest session, Kinross Gold Corporation (KGC) has traded red over the past five days. The stock hit a weekly high of 3.43 this Thursday, 07/28/22, jumping 1.34% in its intraday price action. The 5-day price performance for the stock is 3.69%, and -11.55% over 30 days. With these gigs, the year-to-date price performance is -42.00%. Short interest in Kinross Gold Corporation (NYSE:KGC) saw shorts transact 25.64 million shares and set a 1.32 days time to cover.

Analysts on Wall Street suggest a consensus price target of $6.23, implying an increase of 45.26% to the stock’s recent value. The extremes give us $3.75 and $9.18 for target low and target high price respectively. As such, KGC has been trading -169.21% off suggested target high and -9.97% from its likely low.

Kinross Gold Corporation (KGC) estimates and forecasts

Looking at statistics comparing Kinross Gold Corporation share performance against respective industry, we note that the company has underperformed competitors. Kinross Gold Corporation (KGC) shares are -38.28% down over the last 6 months, with its year-to-date growth rate lower than industry average at -2.33% against 7.10%. Revenue is forecast to shrink -72.00% this quarter before falling -70.40% for the next one. The rating firms project that company’s revenue will shrink -8.20% compared to the previous financial year.

Revenue forecast for the current quarter as set by 3 analysts is $954.51 million. Meanwhile, for the quarter ending Dec 2021, a total of 3 analyst(s) estimate revenue growth to $970.85 million.Earnings reports from the last fiscal year show that sales brought in $1.16 billion and $1.2 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -17.60% before dropping -18.80% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 32.30% for the past 5-year period. While 2022 is set for a -82.10% return in earnings, projections for the next 5 years are at -2.62% annually.

KGC Dividends

Kinross Gold Corporation has its next earnings report out between February 08 and February 14. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Kinross Gold Corporation has a forward dividend ratio of 0.12, with the share yield ticking at 3.56% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Kinross Gold Corporation (NYSE:KGC)’s Major holders

Kinross Gold Corporation insiders hold 0.23% of total outstanding shares, with institutional holders owning 62.70% of the shares at 62.84% float percentage. In total, 62.70% institutions holds shares in the company, led by Van Eck Associates Corporation. As of Mar 30, 2022, the company held over 85.6 million shares (or 6.59% of shares), all amounting to roughly $503.35 million.

The next major institution holding the largest number of shares is Ruffer LLP with 76.88 million shares, or about 5.92% of shares outstanding. As of the market price on Mar 30, 2022, these shares were worth $452.04 million.

We also have VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx as the top two Mutual Funds with the largest holdings of the Kinross Gold Corporation (KGC) shares. Going by data provided on Dec 30, 2021, VanEck ETF Trust-VanEck Gold Miners ETF holds roughly 55.97 million shares. This is just over 4.31% of the total shares, with a market valuation of $325.17 million. Data from the same date shows that the other fund manager holds a little less at 16.34 million, or 1.26% of the shares, all valued at about 88.21 million.


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