Connect with us

Precious Metals

Let’s Discuss The Kinross Gold Corporation (NYSE: KGC) Stock Forecast.

In the last trading session, 14.17 million shares of the Kinross Gold Corporation (NYSE:KGC) were traded, and its beta was 0.83. Most recently the company’s…

Share this article:

Published

on

This article was originally published by The Marketing Sentinal

In the last trading session, 14.17 million shares of the Kinross Gold Corporation (NYSE:KGC) were traded, and its beta was 0.83. Most recently the company’s share price was $4.35, and it changed around -$0.03 or -0.68% from the last close, which brings the market valuation of the company to $5.73B. KGC currently trades at a discount to its 52-week high of $6.34, offering almost -45.75% off that amount. The share price’s 52-week low was $3.00, which indicates that the current value has risen by an impressive 31.03% since then. We note from Kinross Gold Corporation’s average daily trading volume that its 10-day average is 13.58 million shares, with the 3-month average coming to 16.40 million.

Kinross Gold Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 17 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 8 recommended KGC as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Kinross Gold Corporation is expected to report earnings per share of $0.07 for the current quarter.

Kinross Gold Corporation (NYSE:KGC) trade information

Instantly KGC has showed a red trend with a performance of -0.68% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.80 on Monday, 02/06/23 increased the stock’s daily price by 9.38%. The company’s shares are currently up 6.36% year-to-date, but still down -6.05% over the last five days. On the other hand, Kinross Gold Corporation (NYSE:KGC) is -2.03% down in the 30-day period. We can see from the shorts that 24.52 million shares have been sold at a short interest cover period of 1.66 day(s).

The consensus price target as assigned by Wall Street analysts is $5.57, which translates to bulls needing to increase their stock price by 21.9% from its current value. Analyst projections state that KGC is forecast to be at a low of $3.75 and a high of $7.47. In order for the stock price to hit the forecast high, the stock would need to plunge -71.72% from its current level, while the stock would need to crash 13.79% from its current level to reach the projected low.

Kinross Gold Corporation (KGC) estimates and forecasts

Kinross Gold Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 29.85 percent over the past six months and at a -48.84% annual growth rate that is well below the industry average of -0.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -12.50% in revenue this quarter, and will report an increase of 16.70% in the next quarter. The year-over-year growth rate is expected to be -6.60%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.05 billion in revenue for the current quarter. 1 analysts expect Kinross Gold Corporation to make $999.52 million in revenue for the quarter ending Mar 2023. The company’s sales for the same quarters a year ago were $879.5 million and $768 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.50%. Forecasts for the next quarter put sales growth at 30.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 32.30%.

KGC Dividends

Kinross Gold Corporation’s next quarterly earnings report is expected to be released on February 15. The annual dividend yield of the stock is 2.76 percent and its annual dividend per share was 0.12. It is important to note, however, that the 2.76% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.25% of Kinross Gold Corporation shares, and 71.12% of them are in the hands of institutional investors. The stock currently has a share float of 71.30%. Kinross Gold Corporation stock is held by 554 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Sep 29, 2022, it held 11.38% of the shares, which is about 139.1 million shares worth $605.07 million.

Barclays Plc, with 6.17% or 75.41 million shares worth $328.02 million as of Sep 29, 2022, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Dec 30, 2022. The former held 65.09 million shares worth $283.15 million, making up 5.33% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 48.06 million shares worth around $209.06 million, which represents about 3.93% of the total shares outstanding.

nyse

Share this article:

Canadian Silver Co. Will See Big Changes in 2024

Source: Michael Ballanger 12/22/2023

Michael Ballanger of GGM Advisory Inc. takes a look at the current state of the market and shares on stock…

Share this article:

Published

on

By

Continue Reading

EGR options out Urban Berry project in Quebec to Harvest Gold – Richard Mills

2023.12.23
EGR Exploration Ltd. (TSXV: EGR) has moved from owner to shareholder at its Urban Berry project in Quebec, this week announcing it is optioning…

Share this article:

Published

on

Continue Reading
Economics

Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar

Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar

A weird week of macro data – strong jobless claims but…

Share this article:

Published

on

Continue Reading

Trending