Kinross Gold Corp. (NYSE: KGC) Stock: More Upside Ahead?

In the latest trading session, 5.0 million Kinross Gold Corp. (NYSE:KGC) shares changed hands as the company’s beta touched 0.93. With the company’s most recent per share price at $5.52 changing hands around $0.2 or 3.76% at last look, the market valuation stands at $6.78B. KGC’s current price is a discount, trading about -1.45% off its 52-week high of $5.60. The share price had its 52-week low at $3.40, which suggests the last value was 38.41% up since then. When we look at Kinross Gold Corp.’s average trading volume, we note the 10-day average is 12.69 million shares, with the 3-month average coming to 11.93 million.

Analysts gave the Kinross Gold Corp. (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 1 out of 19 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended KGC as a Hold, 11 felt it is a Buy and 1 rated the stock as Underweight. Kinross Gold Corp.’s EPS for the current quarter is expected to be $The Kraft Heinz Company.

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Kinross Gold Corp. (NYSE:KGC) trade information

Instantly KGC is in green as seen in intraday trades today. With action 4.15%, the performance over the past five days has been green. The jump to weekly highs of 5.58 on Monday, 11/20/23 added 3.76% to the stock’s daily price. The company’s shares are showing year-to-date upside of 34.96%, with the 5-day performance at 4.15% in the green. However, in the 30-day time frame, Kinross Gold Corp. (NYSE:KGC) is 2.99% up. Looking at the short shares, we see there were 20.51 million shares sold at short interest cover period of 1.51 days.

The consensus price target for the stock as assigned by Wall Street analysts is $6.56, meaning bulls need an upside of 15.85% from its recent market value. According to analyst projections, KGC’s forecast low is $4.75 with $9.00 as the target high. To hit the forecast high, the stock’s price needs a -63.04% plunge from its current level, while the stock would need to tank 13.95% for it to hit the projected low.

Kinross Gold Corp. (KGC) estimates and forecasts

Data shows that the Kinross Gold Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 9.31% over the past 6 months, a 81.82% in annual growth rate that is considerably higher than the industry average of 9.60%.

The 2023 estimates are for Kinross Gold Corp. earnings to increase by 78.75%.

KGC Dividends

Kinross Gold Corp. is expected to release its next quarterly earnings report between February 13 and February 19. The 2.17% annual yield figure for the share gives it an annual dividend of 0.12. It is important to note, however, that the 2.17% 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 Corp. (NYSE:KGC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.28% of Kinross Gold Corp. shares while 65.39% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 65.57%. There are 65.39% institutions holding the Kinross Gold Corp. stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 12.28% of the shares, roughly 150.7 million KGC shares worth $718.84 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.58% or 43.94 million shares worth $209.6 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 65.31 million shares estimated at $297.8 million under it, the former controlled 5.32% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 4.14% of the shares, roughly 50.88 million shares worth around $232.03 million.

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