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Could Kinross Gold Corporation’s (NYSE: KGC) Earnings Exceed Your Expectations?

In the last trading session, 7.25 million shares of the Kinross Gold Corporation (NYSE:KGC) were traded, and its beta was 0.94. Most recently the company’s share price was $5.05, and it changed around -$0.07 or -1.37% from the last close, which brings the market valuation of the company to $6.15B. KGC currently trades at a discount to its 52-week high of $5.57, offering almost -10.3% off that amount. The share price’s 52-week low was $3.00, which indicates that the current value has risen by an impressive 40.59% since then. We note from Kinross Gold Corporation’s average daily trading volume that its 10-day average is 13.57 million shares, with the 3-month average coming to 14.72 million.

Kinross Gold Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 0 out of 18 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 8 recommended KGC as a Hold, whereas 9 deemed it a Buy, and 1 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 red trend with a performance of -1.37% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.30 on Tuesday, 05/23/23 increased the stock’s daily price by 4.72%. The company’s shares are currently up 23.47% year-to-date, but still down -4.17% over the last five days. On the other hand, Kinross Gold Corporation (NYSE:KGC) is 0.60% down in the 30-day period. We can see from the shorts that 18.6 million shares have been sold at a short interest cover period of 1.28 day(s).

The consensus price target as assigned by Wall Street analysts is $6.08, which translates to bulls needing to increase their stock price by 16.94% from its current value. Analyst projections state that KGC is forecast to be at a low of $3.50 and a high of $7.48. In order for the stock price to hit the forecast high, the stock would need to plunge -48.12% from its current level, while the stock would need to crash 30.69% 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 compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 23.17 percent over the past six months and at a 50.00% annual growth rate that is well above the industry average of 21.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 133.30% in revenue this quarter, and will report an increase of 80.00% in the next quarter. The year-over-year growth rate is expected to be 16.70%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.02 billion in revenue for the current quarter. 2 analysts expect Kinross Gold Corporation to make $1.02 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $821.5 million and $1.03 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 23.60%. Forecasts for the next quarter put sales growth at -0.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -41.50%.

KGC Dividends

Kinross Gold Corporation’s next quarterly earnings report is expected to be released on August 02. The annual dividend yield of the stock is 2.38 percent and its annual dividend per share was 0.12. It is important to note, however, that the 2.38% 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 0.27% of Kinross Gold Corporation shares, and 67.48% of them are in the hands of institutional investors. The stock currently has a share float of 67.66%. Kinross Gold Corporation stock is held by 551 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Mar 30, 2023, it held 11.91% of the shares, which is about 146.17 million shares worth $688.47 million.

Vanguard Group, Inc. (The), with 3.61% or 44.37 million shares worth $208.97 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Mar 30, 2023. The former held 73.57 million shares worth $346.53 million, making up 5.99% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 45.43 million shares worth around $213.97 million, which represents about 3.70% of the total shares outstanding.

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