Kinross Gold Corporation (NYSE: KGC): Making Its Way To A Higher Share Price

Kinross Gold Corporation (NYSE:KGC) price on Friday, August 19, fall -1.43% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.44.

A look at the stock’s price movement, the level at last check in today’s session was $3.49, moving within a range at $3.36 and $3.50. The beta value (5-Year monthly) was 1.06 while the PE ratio in trailing twelve months stood at 174.50. Turning to its 52-week performance, $7.13 and $3.00 were the 52-week high and 52-week low respectively. Overall, KGC moved 8.39% over the past month.

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Kinross Gold Corporation’s market cap currently stands at around $4.44 billion, with investors looking forward to this quarter’s earnings report slated for Nov 09, 2022. The company has a Forward Dividend ratio of 0.12, with its dividend yield at 3.44%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.07, which has seen fiscal year 2021 EPS growth forecast to increase to $0.41 and about $0.8 for fiscal year 2022. Per the data, EPS growth is expected to be -46.80% for 2022 and 95.10% for the next financial year.

Analysts have a consensus estimate of $954.51 million for the company’s revenue for the quarter, with a low and high estimate of $883 million and $1.03 billion respectively. The average forecast suggests down to a -17.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $3.87 billion, representing a -8.20% decline on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that KGC is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

17 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 9 recommend KGC as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

KGC’s current price about 1.10% and -4.41% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.14, while 7-day volatility ratio is 3.23% and 4.33% in the 30-day chart. Further, Kinross Gold Corporation (KGC) has a beta value of 1.02, and an average true range (ATR) of 0.16. Analysts have given the company’s stock an average 52-week price target of $5.92, forecast between a low of $3.75 and high of $7.81. Looking at the price targets, the low is -9.01% off recent price level in today’s trading while to achieve the yearly target high, it has to move -127.03%. Nonetheless, investors will most likely welcome a -74.42% jump to $6.00 which is the analysts’ median price.

In the market, a comparison of Kinross Gold Corporation (KGC) and its peers suggest the former has performed considerably weaker. Data shows KGC’s intraday price has changed -1.43% today and -39.72% over the past year. Comparatively, Hecla Mining Company (HL) has moved -4.18% so far today and only -23.55% in the past 12 months. If we look at the PE ratio, we find that Kinross Gold Corporation’s ratio stands at 174.50 compared to Hecla Mining Company’s 2155.00. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.15% and -0.70% respectively on the day as seen in early trades.

If we refocus on Kinross Gold Corporation (NYSE:KGC), historical trading data shows that trading volumes averaged 14.91 million over the past 10 days and 20.68 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.30 billion shares.

The 0.23% of Kinross Gold Corporation’s shares are in the hands of company insiders while institutional holders own 69.90% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 52.56 million on Jul 28, 2022, giving us a short ratio of 2.51. The data shows that as of Jul 28, 2022 short interest in Kinross Gold Corporation (KGC) stood at 4.04% of shares outstanding, with shares short falling to 55.97 million registered in Jun 29, 2022. Current price change has pushed the stock -39.93% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the KGC stock continues to rise going into the next quarter.