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Kinross Gold Corporation (NYSE: KGC) Could Soar To Much Higher Prices In Coming Months

In the last trading session, 8.22 million Kinross Gold Corporation (NYSE:KGC) shares changed hands as the company’s beta touched 0.95. With the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 8.22 million Kinross Gold Corporation (NYSE:KGC) shares changed hands as the company’s beta touched 0.95. With the company’s per share price at $4.84 changed hands at -$0.01 or -0.21% during last session, the market valuation stood at $5.93B. KGC’s last price was a discount, traded about -15.08% off its 52-week high of $5.57. The share price had its 52-week low at $3.00, which suggests the last value was 38.02% up since then. When we look at Kinross Gold Corporation’s average trading volume, we note the 10-day average is 9.03 million shares, with the 3-month average coming to 14.21 million.

Kinross Gold Corporation (NYSE:KGC) trade information

Instantly KGC was in red as seen at the end of in last trading. With action 3.86%, the performance over the past five days has been green. The drop to weekly highs of 4.95 on Tuesday, 06/06/23 subtracted -0.21% to the stock’s daily price. The company’s shares are showing year-to-date upside of 18.34%, with the 5-day performance at 3.86% in the green. However, in the 30-day time frame, Kinross Gold Corporation (NYSE:KGC) is -9.02% down. Looking at the short shares, we see there were 17.44 million shares sold at short interest cover period of 1.43 days.

Kinross Gold Corporation (KGC) estimates and forecasts

Data shows that the Kinross Gold Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 11.52% over the past 6 months, a 50.00% in annual growth rate that is considerably higher than the industry average of 23.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Kinross Gold Corporation will rise 166.70%, while the growth in revenue is estimated to hit 80.00% for the next quarter. Year-over-year growth is forecast to reach 17.00% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $1.02 billion. 2 analysts are of the opinion that Kinross Gold Corporation’s revenue for the quarter ending Sep 2023 will be $1.02 billion. The company’s revenue for the corresponding quarters a year ago was $821.5 million and $1.03 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 23.60%. The estimates for the next quarter sales put growth at -0.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -41.50%. The 2023 estimates are for Kinross Gold Corporation earnings to decrease by -86.10%.

KGC Dividends

Kinross Gold Corporation is expected to release its next quarterly earnings report in July. The 2.48% annual yield figure for the share gives it an annual dividend of 0.12. It is important to note, however, that the 2.48% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

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

If we look at who the major shareholders are, we find that insiders hold 0.27% of Kinross Gold Corporation shares while 67.48% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.66%. There are 67.48% institutions holding the Kinross Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Mar 30, 2023, the company held 11.91% of the shares, roughly 146.17 million KGC shares worth $688.47 million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 3.61% or 44.37 million shares worth $208.97 million as of Mar 30, 2023.

Among Mutual Funds, the top two as of Mar 30, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 73.57 million shares estimated at $346.53 million under it, the former controlled 5.99% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.70% of the shares, roughly 45.43 million shares worth around $213.97 million.

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