Kinross Gold Corp. (NYSE: KGC): A Suicide Machine Or A Millionaire’s Dream?

In today’s recent session, 9.22 million shares of the Kinross Gold Corp. (NYSE:KGC) have been traded, and its beta is 1.15. Most recently the company’s share price was $6.18, and it changed around $0.05 or 0.84% from the last close, which brings the market valuation of the company to $7.59B. KGC at last check was trading at a discount to its 52-week high of $6.34, offering almost -2.59% off that amount. The share price’s 52-week low was $4.32, which indicates that the recent value has risen by an impressive 30.1% since then. We note from Kinross Gold Corp.’s average daily trading volume that its 10-day average is 13.68 million shares, with the 3-month average coming to 13.14 million.

Kinross Gold Corp. stock received a consensus recommendation rating of Hold, based on a mean score of 2.06. If we narrow it down even further, the data shows that 0 out of 19 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 11 recommended KGC as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Kinross Gold Corp. is expected to report earnings per share of $0.05 for the current quarter.

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Kinross Gold Corp. (NYSE:KGC) trade information

Instantly KGC has been showing a green trend so far today with a performance of 0.84% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 2.18% year-to-date, but still up 9.41% over the last five days. On the other hand, Kinross Gold Corp. (NYSE:KGC) is 26.16% up in the 30-day period. We can see from the shorts that 11.9 million shares have been sold at a short interest cover period of 0.98 day(s).

The consensus price target as assigned by Wall Street analysts is $8.08, which translates to bulls needing to increase their stock price by 23.51% from its current value. Analyst projections state that KGC is forecast to be at a low of $4 and a high of $11.14046542.

Kinross Gold Corp. (KGC) estimates and forecasts

Kinross Gold Corp. 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 risen 34.68 percent over the past six months and at a -25.00% annual growth rate that is well below the industry average of 3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -28.60% in revenue this quarter, and will report a decrease of -64.30% in the next quarter. The year-over-year growth rate is expected to be -0.10%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $944 million in revenue for the current quarter. 1 analysts expect Kinross Gold Corp. to make $1.02 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $973.62 million and $1.09 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.00%. Forecasts for the next quarter put sales growth at -7.00%.

KGC Dividends

Kinross Gold Corp.’s next quarterly earnings report is expected to be released on May 07. The annual dividend yield of the stock is 1.94 percent and its annual dividend per share was 0.12. It is important to note, however, that the 1.94% 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 Corp. (NYSE:KGC)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.28% of Kinross Gold Corp. shares, and 67.70% of them are in the hands of institutional investors. The stock currently has a share float of 67.89%. Kinross Gold Corp. stock is held by 628 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Jun 29, 2023, it held 12.28% of the shares, which is about 150.7 million shares worth $718.84 million.

Vanguard Group Inc, with 3.58% or 43.94 million shares worth $209.6 million as of Jun 29, 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 Sep 29, 2023. The former held 65.31 million shares worth $297.8 million, making up 5.32% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 50.88 million shares worth around $232.03 million, which represents about 4.14% of the total shares outstanding.