Kinross Gold Corp. (NYSE:KGC) shares, rose in value, with the stock price up by 1.91% to the previous day’s close as strong demand from buyers drove the stock to $6.40.
Actively observing the price movement in the last trading, the stock closed the session at $6.28. The value of beta (5-year monthly) was 1.21 whereas the PE ratio was 19.01 over 12-month period. Referring to stock’s 52-week performance, its high was $6.46, and the low was $4.32. On the whole, KGC has fluctuated by 20.08% over the past month.
With the market capitalization of Kinross Gold Corp. currently standing at about $7.86 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024. The company’s Forward Dividend Ratio is 0.12, with its dividend yield at 1.87%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.05, which is expected to increase to $0.1 for fiscal year $0.31 and then to about $0.31 by fiscal year 2025.
Analysts have estimated the company’s revenue for the quarter at $944 million, with a low estimate of $944 million and a high estimate of $944 million. According to the average forecast, sales growth in current quarter could jump down -3.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.24 billion, representing a decrease of -0.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that KGC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of KGC currently trading nearly 10.61% and 17.43% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.59, while the 7-day volatility ratio is showing 3.02% which for the 30-day chart, stands at 3.20%. Furthermore, Kinross Gold Corp. (KGC)’s beta value is 1.16, and its average true range (ATR) is 0.20.
A comparison of Kinross Gold Corp. (KGC) with its peers suggests the former has fared considerably weaker in the market. KGC showed an intraday change of 1.91% in last session, and over the past year, it grew by 26.23%%.
Data on historical trading for Kinross Gold Corp. (NYSE:KGC) indicates that the trading volumes over the past 10 days have averaged 14.09 million and over the past 3 months, they’ve averaged 13.31 million. According to company’s latest data on outstanding shares, there are 1.23 billion shares outstanding.
Nearly 0.86% of Kinross Gold Corp.’s shares belong to company insiders and institutional investors own 59.83% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.9 million shares as on Mar 15, 2024, resulting in a short ratio of 0.98. According to the data, the short interest in Kinross Gold Corp. (KGC) stood at 0.97% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 10.76 million. The stock has risen by 5.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the KGC stock heading into the next quarter.
