Barclays took its Kinross Gold [KGC] rating to the equivalent of Overweight from Equal Weight, in a research note dated 2021-01-06. Other analysts also revised their coverage, with RBC Capital Mkts’s analysts upgrading the shares from “a Sector perform” rating to “an Outperform ” rating in a research note to investors issued in mid June. Meanwhile, Scotiabank had raised its rating on KGC to “Sector outperform” from the earlier “Sector perform”, in a research note produced for clients April 16, 2020.
Is Kinross Gold Corporation [NYSE:KGC] a Good Buy Right Now?
It should be noted that KGC technical indicators for short, intermediate as well as long term progress have placed an overall average of 16% as Sell. The average signal changed from 72% Sell in the last week and compares with 40% Sell in the past month. Data from Kinross Gold Corporation’s Trend Spotter indicated that the signals were Bearish. The stock current average is 22.18 million shares in the past 20 days and the short term average signal indicates a 50% Sell. In the last 50 days, the average trading volume was 16.72 million shares while the medium term average advocated for Hold. The average long-term signal stands at Hold and the 100-day average volume stands at 15.25 million shares.
KGC Price Performance
On Wall Street, Kinross Gold Corporation [NYSE:KGC] finished Tuesday’s session down -1.13% at $7.89. The stock went up to $8.11 at the same session while its lowest single day price was $7.79. In the last five days, it saw a rise of about 8.38%, Kinross Gold Corporation shares gained by almost 7.49% since the beginning of the year. However, the share price has dropped to as low as -23.51% below its one year high. On 01/05/21, the company shares recorded $8.11, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $7.66. The company’s shares have inclined by 69.68% in the past year. The 50-day SMA achieved is $7.65 while the 200-day SMA is $7.59. Volume dropped to 14.02 million from 23.23 million in the previous session.
Kinross Gold Corporation [KGC] Valuation Measures
Notably, Kinross Gold Corporation [KGC] stock can be classified as a good candidate in the listing of underestimated low-priced Gold companies to purchase soonest possible with the prevailing 12-month PE ratio of 9.25. The measure means the stock is exchanging at a discount as compared to the 18.91x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.53 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.82 which means KGC serve an attractive investment opportunity compared to its competitors.
KGC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 7.75 level, and in case of violation of this particular level, it will cause more drop to 7.61 level. On the upper level, 8.25 is still the key resistance. The stock may increase to the subsequent resistance at 8.07. The Relative Strength Index (RSI) pinned on the 14-day chart is 57.25, implying a neutral technical stance while the MACD stands at 0.28, meaning price will decrease in the next trading period. Percent R indicator moved to 19.13%, implying bullish price movement. Stochastic %K at 77.38% suggest selling the stock.
What is the short interest in Kinross Gold Corporation?
Short interest in the Kinross Gold Corporation stock has plunged, decreasing by -5.25 million shares to total 19.59 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 14.34 million, data from Yahoo Finance shows. The increase of 26.8% suggests the stock saw some increased bearish sentiment.
Kinross Gold Corporation’s Biggest Shareholders: Who Owns Kinross Gold Corporation [KGC]?
Filings by Van Eck Associates Corp. showed that the firm now holds a total of 144,215,456 shares or roughly 11.46% of the outstanding KGC shares. This means their shares have increased by 13,911,897 from the 144,215,456 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Renaissance Technologies LLC updated stake is worth $318,874,763. Details in the latest 13F filings reveal that The Vanguard Group, Inc. disposed off their -3.23% stake valued at $241,000,583 while Ruffer LLP cut theirs at $202,325,266. During the last quarter, The Vanguard Group, Inc. liquidated -1,126,219 of its shares in Kinross Gold Corporation while Ruffer LLP sold -11,695,788 shares. The Boston Partners Global Investors,’s holdings currently number 19,452,778 shares at $153482418.42. According to the firm’s last 13F report, Fidelity shares in the company at filing stood at 17,548,845 shares, roughly $125,298,753.
KGC Earnings Forecast For The Current Quarter
Kinross Gold Corporation [KGC] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.25B and an earnings per share of $0.23 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.17B at an EPS of $0.24 for Mar 2021. The estimates represent upside of 11.60% and 21.38% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
KGC Earnings Estimates For The Current Year
For the financial year, Kinross Gold Corporation [NYSE:KGC] is expected to bring in revenue of $4.24B. The returns are nearly $740.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.74, higher than that of FY19 by $0.4. Estimates put this year’s earnings growth at 117.60%, 20.30% for the next, and at an annual 34.50% over the next 5-year period. As for sales, forecasts are for an increase of 21.20% in the current fiscal year and a further 11.60% over the following year.