Kinross Gold Corporation (KGC) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Kinross Gold Corporation (NYSE: KGC) stock fell -3.37% on Wednesday to $4.88 against a previous-day closing price of $5.05. With 9.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 14.58 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $5.0900 whereas the lowest price it dropped to was $4.8700. The 52-week range on KGC shows that it touched its highest point at $5.57 and its lowest point at $3.00 during that stretch. It currently has a 1-year price target of $5.95. With its current market cap of 5.95 billion, KGC has annualized dividend of $0.12 while the current yield stands at 2.46%. Beta for the stock currently stands at 0.94.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KGC was down-trending over the past week, with a drop of -7.40%, but this was down by -2.79% over a month. Three-month performance surged to 32.97% while six-month performance rose 20.49%. The stock gained 8.20% in the past year, while it has gained 19.32% so far this year. A look at the trailing 12-month EPS for KGC yields 0.03 with Next year EPS estimates of 0.31. For the next quarter, that number is 0.07. This implies an EPS growth rate of -86.10% for this year and 0.98% for next year.

Float and Shares Shorts:

At present, 1.22 billion KGC shares are outstanding with a float of 1.21 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 18.6 million, which was 1.51% higher than short shares on Mar 30, 2023. In addition to Mr. J. Paul Rollinson as the firm’s Pres, CEO & Director, Ms. Andrea Susan Freeborough serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 67.48% of KGC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.75% of KGC, in contrast to 11.68% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in KGC with 11.91% of the stake, Van Eck Associates Corp. holds 146,172,105 shares worth 146,172,105. A second-largest stockholder of KGC, Ruffer LLP, holds 35,680,196 shares, controlling over 2.91% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in KGC, holding 32,184,163 shares or 2.62% stake. With a 5.80% stake in KGC, the VanEck Gold Miners ETF is the largest stakeholder. A total of 71,156,524 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 3.80% of KGC stock, is the second-largest Mutual Fund holder. It holds 46,659,936 shares valued at 235.63 million. BlackRock Global Funds – World Go holds 2.31% of the stake in KGC, owning 28,330,422 shares worth 143.07 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, KGC reported revenue of $821.50M and operating income of $57.80M. The EBITDA in the recently reported quarter was $241.10M and diluted EPS was -$0.03.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KGC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With KGC analysts setting a high price target of $7.48 and a low target of $3.50, the average target price over the next 12 months is $6.08. Based on these targets, KGC could surge 53.28% to reach the target high and fall by -28.28% to reach the target low. Reaching the average price target will result in a growth of 24.59% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded KGC stock several times over the past three months with 32 Buys and 30 Sells. In these transactions, 2,557,561 shares were bought while 472,821 shares were sold. The number of buy transactions has increased to 181 while that of sell transactions has risen to 99 over the past year. The total number of shares bought during that period was 85,484,022 while 80,506,501 shares were sold.

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