During the last session, Kinross Gold Corp. (NYSE:KGC)’s traded shares were 15.56 million, with the beta value of the company hitting 1.16. At the end of the trading day, the stock’s price was $6.28, reflecting an intraday loss of -2.03% or -$0.13. The 52-week high for the KGC share is $6.46, that puts it down -2.87 from that peak though still a striking 31.21% gain since the share price plummeted to a 52-week low of $4.32. The company’s market capitalization is $7.71B, and the average intraday trading volume over the past 10 days was 14.18 million shares, and the average trade volume was 13.25 million shares over the past three months.
Kinross Gold Corp. (NYSE:KGC) trade information
Kinross Gold Corp. (KGC) registered a -2.03% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.03% in intraday trading to $6.28, hitting a weekly high. The stock’s 5-day price performance is 6.80%, and it has moved by 21.00% in 30 days. Based on these gigs, the overall price performance for the year is 31.93%. The short interest in Kinross Gold Corp. (NYSE:KGC) is 11.9 million shares and it means that shorts have 0.98 day(s) to cover.
Kinross Gold Corp. (KGC) estimates and forecasts
Statistics show that Kinross Gold Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Kinross Gold Corp. (KGC) shares have gone up 41.12% during the last six months, with a year-to-date growth rate less than the industry average at -25.00% against 3.00. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -28.60% this quarter and then drop -64.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -0.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $944 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $1.02 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $973.62 million and $1.09 billion respectively. In this case, analysts expect current quarter sales to shrink by -3.00% and then drop by -7.00% in the coming quarter.
While earnings are projected to return -23.78% in 2024.
KGC Dividends
Kinross Gold Corp. is due to release its next quarterly earnings on May 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Kinross Gold Corp. is 0.12, with the dividend yield indicating at 1.91 percent, continuing the trend of increasing dividends in recent years.
Kinross Gold Corp. (NYSE:KGC)’s Major holders
Kinross Gold Corp. insiders own 0.26% of total outstanding shares while institutional holders control 67.69%, with the float percentage being 67.86%. Van Eck Associates Corporation is the largest shareholder of the company, while 620 institutions own stock in it. As of Jun 29, 2023, the company held over 150.7 million shares (or 12.28% of all shares), a total value of $718.84 million in shares.
The next largest institutional holding, with 43.94 million shares, is of Vanguard Group Inc’s that is approximately 3.58% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $209.6 million.
Also, the Mutual Funds coming in first place with the largest holdings of Kinross Gold Corp. (KGC) shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. Data provided on Sep 29, 2023 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 65.31 million shares. This amounts to just over 5.32 percent of the company’s overall shares, with a $297.8 million market value. The same data shows that the other fund manager holds slightly less at 50.88 million, or about 4.14% of the stock, which is worth about $232.03 million.
