Kinross Gold Corporation (NYSE:KGC) Receives Different Reactions From Analysts – Marketing Sentinel
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Kinross Gold Corporation (NYSE:KGC) Receives Different Reactions From Analysts

In the last trading session, 8.41 million shares of the Kinross Gold Corporation (NYSE:KGC) were traded, and its beta was 0.84. Most recently the company’s share price was $5.67, and it changed around $0.03 or 0.53% from the last close, which brings the market valuation of the company to $7.13B. KGC currently trades at a discount to its 52-week high of $9.42, offering almost -66.14% off that amount. The share price’s 52-week low was $5.18, which indicates that the current value has risen by an impressive 8.64% since then. We note from Kinross Gold Corporation’s average daily trading volume that its 10-day average is 10.53 million shares, with the 3-month average coming to 12.07 million.

Kinross Gold Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.90. If we narrow it down even further, the data shows that 0 out of 18 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 3 recommended KGC as a Hold, whereas 13 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.

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Kinross Gold Corporation (NYSE:KGC) trade information

Instantly KGC has showed a green trend with a performance of 0.53% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.83 on Friday, 10/08/21 increased the stock’s daily price by 2.74%. The company’s shares are currently down -22.75% year-to-date, but still up 6.58% over the last five days. On the other hand, Kinross Gold Corporation (NYSE:KGC) is -3.24% up in the 30-day period. We can see from the shorts that 13.05 million shares have been sold at a short interest cover period of 0.8 day(s).

The consensus price target as assigned by Wall Street analysts is $9.80, which translates to bulls needing to increase their stock price by 42.14% from its current value. Analyst projections state that KGC is forecast to be at a low of $5.50 and a high of $14.06. In order for the stock price to hit the forecast high, the stock would need to plunge -147.97% from its current level, while the stock would need to crash 3.0% 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 fallen -21.58 percent over the past six months and at a -46.75% annual growth rate that is well below the industry average of 6.80%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will loss -72.00% in revenue this quarter, and will report a decrease of -70.40% in the next quarter. The year-over-year growth rate is expected to be -8.10%, down from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $954.51 million in revenue for the current quarter. 3 analysts expect Kinross Gold Corporation to make $987.17 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $1.16 billion and $1.2 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -17.60%. Forecasts for the next quarter put sales growth at -17.40%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 25.70%. Kinross Gold Corporation earnings are expected to increase by 71.20% in 2021, but the outlook is negative -8.00% per year for the next five years.

KGC Dividends

Kinross Gold Corporation’s next quarterly earnings report is expected to be released on November 10. The annual dividend yield of the stock is 2.12 percent and its annual dividend per share was 0.12. It is important to note, however, that the 2.12% 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 0.23% of Kinross Gold Corporation shares, and 64.05% of them are in the hands of institutional investors. The stock currently has a share float of 64.19%. Kinross Gold Corporation stock is held by 634 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Mar 30, 2021, it held 6.24% of the shares, which is about 78.79 million shares worth $525.54 million.

Vanguard Group, Inc. (The), with 2.99% or 37.73 million shares worth $251.69 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.

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VanEck Vectors ETF Tr-Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx were the top two Mutual Funds as of Jun 29, 2021. The former held 63.7 million shares worth $404.5 million, making up 5.05% of all outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held roughly 15.74 million shares worth around $110.81 million, which represents about 1.25% of the total shares outstanding.

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