Should Kinross Gold Corp. (NYSE: KGC) Investors Be Concerned?

The trading price of Kinross Gold Corp. (NYSE:KGC) closed higher on Tuesday, April 02, closing at $6.27, 1.79% higher than its previous close.

The company’s P/E ratio in the trailing 12-month period was 18.62, while its 5Y monthly beta was 1.13. In examining the 52-week price action we see that the stock hit a 52-week high of $6.34 and a 52-week low of $4.32. Over the past month, the stock has gained 23.43% in value.

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Kinross Gold Corp., whose market valuation is $7.70 billion at the time of this writing, is expected to release its quarterly earnings report May 07, 2024. The dividend yield on the company stock is 1.91%, while its Forward Dividend ratio is 0.12. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.05 per share this quarter, however they have predicted annual earnings per share of $0.31 for 2024 and $0.31 for 2025. It means analysts are expecting annual earnings per share growth of -29.50%.

Analysts have forecast the company to bring in revenue of $944 million for the current quarter, with the likely lows of $944 million and highs of $944 million. The average estimate suggests sales will likely down by -3.00% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $4.24 billion. The company’s revenue is forecast to drop by -0.10% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Kinross Gold Corp. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest KGC has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that KGC’s price is currently 11.32% off the SMA20 and 16.13% off the SMA50. The RSI metric on the 14-day chart is currently showing 71.75, and weekly volatility stands at 2.90%. When measured over the past 30 days, the indicator reaches 3.41%. Kinross Gold Corp. (NYSE:KGC)’s beta value is currently sitting at 1.17, while the Average True Range indicator is currently displaying 0.19.

To see how Kinross Gold Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: KGC stock’s performance was 1.79% in the latest trading, and 32.00% in the past year. Kinross Gold Corp. has a P/E ratio of 18.62.

An evaluation of the daily trading volume of Kinross Gold Corp. (NYSE:KGC) indicates that the 3-month average is 13.25 million. However, this figure has increased over the past 10 days to an average of 13.73 million.

Currently, records show that 1.23 billion of the company’s shares remain outstanding. The insiders hold 0.86% of outstanding shares, whereas institutions hold 59.83%. The stats also highlight that short interest as of Mar 15, 2024, stood at 11.9 million shares, resulting in a short ratio of 0.98 at that time. From this, we can conclude that short interest is 0.97% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 10.76 million. However, since the stock’s price has seen 3.64% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.