Kinross Gold Corporation (NYSE: KGC): Investing Tips And Trends
Posted On July 26, 2022
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In the latest trading session, 5.5 million Kinross Gold Corporation (NYSE:KGC) shares changed hands as the company’s beta touched 1.04. With the company’s most recent per share price at $3.13 changing hands around $0.0 or 0.00% at last look, the market valuation stands at $4.08B. KGC’s current price is a discount, trading about -127.8% off its 52-week high of $7.13. The share price had its 52-week low at $3.00, which suggests the last value was 4.15% up since then. When we look at Kinross Gold Corporation’s average trading volume, we note the 10-day average is 21.27 million shares, with the 3-month average coming to 21.63 million.
Analysts gave the Kinross Gold Corporation (KGC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 17 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 6 recommended KGC as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. Kinross Gold Corporation’s EPS for the current quarter is expected to be $0.07.
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Instantly KGC was in red as seen in intraday trades today. With action -2.49%, the performance over the past five days has been red. The drop to weekly highs of 3.44 on Monday, 07/25/22 subtracted 0.00% to the stock’s daily price. The company’s shares are showing year-to-date downside of -46.13%, with the 5-day performance at -2.49% in the red. However, in the 30-day time frame, Kinross Gold Corporation (NYSE:KGC) is -21.16% down. Looking at the short shares, we see there were 25.64 million shares sold at short interest cover period of 1.32 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.48, meaning bulls need an upside of 51.7% from its recent market value. According to analyst projections, KGC’s forecast low is $4.00 with $9.18 as the target high. To hit the forecast high, the stock’s price needs a -193.29% plunge from its current level, while the stock would need to soar -27.8% for it to hit the projected low.
Kinross Gold Corporation (KGC) estimates and forecasts
Data shows that the Kinross Gold Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -44.60% over the past 6 months, a -2.33% in annual growth rate that is considerably lower than the industry average of 6.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Kinross Gold Corporation will fall -72.00%, while the growth in revenue is estimated to hit -70.40% for the next quarter. Year-over-year growth is forecast to reach -8.20% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $954.51 million. 3 analysts are of the opinion that Kinross Gold Corporation’s revenue for the quarter ending Dec 2021 will be $970.85 million. The company’s revenue for the corresponding quarters a year ago was $1.16 billion and $1.2 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -17.60%. The estimates for the next quarter sales put growth at -18.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 32.30%. The 2022 estimates are for Kinross Gold Corporation earnings to decrease by -82.10%, but the outlook for the next 5-year period is at -2.62% per year.
Kinross Gold Corporation is expected to release its next quarterly earnings report between February 08 and February 14. The 3.83% annual yield figure for the share gives it an annual dividend of 0.12. It is important to note, however, that the 3.83% 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 0.23% of Kinross Gold Corporation shares while 62.70% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.84%. There are 62.70% institutions holding the Kinross Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Mar 30, 2022, the company held 6.59% of the shares, roughly 85.6 million KGC shares worth $503.35 million.
Ruffer LLP holds the second largest percentage of outstanding shares, with 5.92% or 76.88 million shares worth $452.04 million as of Mar 30, 2022.
Among Mutual Funds, the top two as of Dec 30, 2021 were VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx. With 55.97 million shares estimated at $325.17 million under it, the former controlled 4.31% of total outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held about 1.26% of the shares, roughly 16.34 million shares worth around $88.21 million.