When Will Kinross Gold Corporation. (KGC) Be Worth Investing In?

Kinross Gold Corporation (NYSE:KGC) has a beta value of 1.01 and has seen 5.27 million shares traded in the recent trading session. The company, currently valued at $4.68B, closed the recent trade at $3.56 per share which meant it gained $0.11 on the day or 3.19% during that session. The KGC stock price is -100.28% off its 52-week high price of $7.13 and 15.73% above the 52-week low of $3.00. If we look at the company’s 10-day average daily trading volume, we find that it stood at 19.36 million shares traded. The 3-month trading volume is 21.86 million shares.

The consensus among analysts is that Kinross Gold Corporation (KGC) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 6 out of 17 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.07.

Sporting 3.19% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 08/09/22 when the KGC stock price touched $3.56 or saw a rise of 0.84%. Year-to-date, Kinross Gold Corporation shares have moved -40.62%, while the 5-day performance has seen it change 0.58%. Over the past 30 days, the shares of Kinross Gold Corporation (NYSE:KGC) have changed 3.60%. Short interest in the company has seen 53.79 million shares shorted with days to cover at 2.05.

Wall Street analysts have a consensus price target for the stock at $5.96, which means that the shares’ value could jump 40.27% from the levels at last check today. The projected low price target is $3.75 while the price target rests at a high of $7.79. In that case, then, we find that the latest price level in today’s session is -118.82% off the targeted high while a plunge would see the stock gain -5.34% from the levels at last check today.

Kinross Gold Corporation (KGC) estimates and forecasts

Figures show that Kinross Gold Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -37.73% over the past 6 months, with this year growth rate of -23.26%, compared to 4.70% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -72.00% and -70.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be -8.20%.

3 analysts offering their estimates for the company have set an average revenue estimate of $954.51 million for the current quarter. 3 have an estimated revenue figure of $970.85 million for the next quarter concluding in Dec 2021. Year-ago sales stood $1.16 billion and $1.2 billion respectively for this quarter and the next, and analysts expect sales will shrink by -17.60% for the current quarter and -18.80% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 32.30% over the past 5 years. Earnings growth for 2022 is a modest -82.10% while over the next 5 years, the company’s earnings are expected to decrease by -2.62%.

KGC Dividends

Kinross Gold Corporation is expected to release its next earnings report between February 08 and February 14 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.12 at a share yield of 3.48%. The company’s dividend yield has gone up over the past 12 months.

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

Insiders own 0.23% of the company shares, while shares held by institutions stand at 68.04% with a share float percentage of 68.19%. Investors are also buoyed by the number of investors in a company, with Kinross Gold Corporation having a total of 581 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 85.6 million shares worth more than $503.35 million. As of Mar 30, 2022, Van Eck Associates Corporation held 6.59% of shares outstanding.

The other major institutional holder is Ruffer LLP, with the holding of over 76.88 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $452.04 million and represent 5.91% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. As of Jun 29, 2022, the former fund manager holds about 5.30% shares in the company for having 68.83 million shares of worth $246.43 million while later fund manager owns 51.76 million shares of worth $185.31 million as of Jun 29, 2022, which makes it owner of about 3.98% of company’s outstanding stock.

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