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Kinross Gold Corporation (NYSE: KGC) Thursday – Up 23.47% From The Lows, What Happens Next

Kinross Gold Corporation (NYSE:KGC)’s traded shares stood at 2.18 million during the latest session, with the company’s beta value hitting 0.90. At the last check today, the stock’s price was $3.92, to imply an increase of 2.30% or $0.09 in intraday trading. The KGC share’s 52-week high remains $6.34, putting it -61.73% down since that peak but still an impressive 23.47% since price per share fell to its 52-week low of $3.00. The company has a valuation of $4.70B, with an average of 14.47 million shares in intraday trading volume over the past 10 days and average of 13.98 million shares over the past 3 months.

Kinross Gold Corporation (NYSE:KGC) trade information

After registering a 2.30% upside in the latest session, Kinross Gold Corporation (KGC) has traded red over the past five days. The stock hit a weekly high of 3.92 this Thursday, 03/16/23, jumping 2.30% in its intraday price action. The 5-day price performance for the stock is 11.94%, and -0.31% over 30 days. With these gigs, the year-to-date price performance is -4.21%. Short interest in Kinross Gold Corporation (NYSE:KGC) saw shorts transact 13.46 million shares and set a 0.94 days time to cover.

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Kinross Gold Corporation (KGC) estimates and forecasts

Looking at statistics comparing Kinross Gold Corporation share performance against respective industry, we note that the company has outperformed competitors. Kinross Gold Corporation (KGC) shares are 18.73% up over the last 6 months, with its year-to-date growth rate higher than industry average at 59.09% against 10.00%. Revenue is forecast to shrink -33.30% this quarter before jumping 100.00% for the next one. The rating firms project that company’s revenue will grow 9.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 1 analysts is $997.11 million. Meanwhile, for the quarter ending Jun 2023, a total of 1 analyst(s) estimate revenue growth to $997.11 million.Earnings reports from the last fiscal year show that sales brought in $768 million and $821.5 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 29.80% before jumping 21.40% in the following quarter.

KGC Dividends

Kinross Gold Corporation has its next earnings report out on May 09. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Kinross Gold Corporation has a forward dividend ratio of 0.12, with the share yield ticking at 3.13% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Kinross Gold Corporation insiders hold 0.25% of total outstanding shares, with institutional holders owning 69.13% of the shares at 69.30% float percentage. In total, 69.13% institutions holds shares in the company, led by Van Eck Associates Corporation. As of Dec 30, 2022, the company held over 138.89 million shares (or 11.35% of shares), all amounting to roughly $547.22 million.

The next major institution holding the largest number of shares is Barclays Plc with 70.36 million shares, or about 5.75% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $277.2 million.

We also have VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF as the top two Mutual Funds with the largest holdings of the Kinross Gold Corporation (KGC) shares. Going by data provided on Dec 30, 2022, VanEck ETF Trust-VanEck Gold Miners ETF holds roughly 65.09 million shares. This is just over 5.33% of the total shares, with a market valuation of $256.46 million. Data from the same date shows that the other fund manager holds a little less at 48.06 million, or 3.93% of the shares, all valued at about 189.35 million.

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