In the latest trading session, 16.55 million Kinross Gold Corporation (NYSE:KGC) shares changed hands as the company’s beta touched 0.90. With the company’s most recent per share price at $6.22 changed hands at -$0.28 or -4.31% at last look, the market valuation stands at $8.50B. KGC’s current price is a discount, trading about -65.76% off its 52-week high of $10.31. The share price had its 52-week low at $6.12, which suggests the last value was 1.61% up since then. When we look at Kinross Gold Corporation’s average trading volume, we note the 10-day average is 18.37 million shares, with the 3-month average coming to 12.38 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 19 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 6 recommended KGC as a Hold, 12 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 $0.14.
Kinross Gold Corporation (NYSE:KGC) trade information
Instantly KGC was in red as seen in intraday trades today. With action -16.24%, the performance over the past five days has been red. The drop to weekly highs of 7.59 on Monday, 06/21/21 subtracted -4.31% to the stock’s daily price. The company’s shares are showing year-to-date downside of -11.44%, with the 5-day performance at -16.24% in the red. However, in the 30-day time frame, Kinross Gold Corporation (NYSE:KGC) is -19.95% down. Looking at the short shares, we see there were 8.81 million shares sold at short interest cover period of 0.65 days.
The consensus price target for the stock as assigned by Wall Street analysts is $10.49, meaning bulls need an upside of 40.71% from its recent market value. According to analyst projections, KGC’s forecast low is $6.50 with $14.88 as the target high. To hit the forecast high, the stock’s price needs a -139.23% plunge from its current level, while the stock would need to soar -4.5% 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 -13.56% over the past 6 months, a -20.78% in annual growth rate that is considerably lower than the industry average of 4.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Kinross Gold Corporation will fall -6.70%, while the growth in revenue is estimated to hit -36.00% for the next quarter. Year-over-year growth is forecast to reach 2.00% up 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 $1.06 billion. 3 analysts are of the opinion that Kinross Gold Corporation’s revenue for the quarter ending Sep 2021 will be $1.12 billion. The company’s revenue for the corresponding quarters a year ago was $1.01 billion and $1.16 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.00%. The estimates for the next quarter sales put growth at -3.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 25.70%. The 2021 estimates are for Kinross Gold Corporation earnings to increase by 71.20%, but the outlook for the next 5-year period is at -7.40% per year.
Kinross Gold Corporation is expected to release its next quarterly earnings report in July. The 1.85% annual yield figure for the share gives it an annual dividend of 0.12. It is important to note, however, that the 1.85% 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 64.18% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.32%. There are 64.18% institutions holding the Kinross Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Mar 30, 2021, the company held 6.25% of the shares, roughly 78.79 million KGC shares worth $525.54 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 2.99% or 37.73 million shares worth $251.69 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were VanEck Vectors ETF Tr-Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx. With 60.36 million shares estimated at $488.93 million under it, the former controlled 4.79% of total outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held about 1.36% of the shares, roughly 17.16 million shares worth around $119.78 million.