BofA Securities slashes price target on Kinross Gold Corporation [KGC] – find out why.

Kinross Gold Corporation [NYSE: KGC] plunged by -$0.08 during the normal trading session on Wednesday and reaching a high of $7.75 during the day while it closed the day at $7.66. The company report on November 5, 2020 that Kinross Gold Corp. to Host Earnings Call.

Kinross Gold Corp. (NYSE:KGC) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on November 5, 2020 at 8:00 AM Eastern Time.

To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/69401.

Kinross Gold Corporation stock has also loss -5.55% of its value over the past 7 days. However, KGC stock has declined by -13.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 6.39% and gained 61.60% year-on date.

The market cap for KGC stock reached $9.75 billion, with 1.26 billion shares outstanding and 1.25 billion shares in the current float. Compared to the average trading volume of 14.07M shares, KGC reached a trading volume of 12799661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Kinross Gold Corporation [KGC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KGC shares is $12.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KGC stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Kinross Gold Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 05, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $7 to $7.50. The new note on the price target was released on June 16, 2020, representing the official price target for Kinross Gold Corporation stock.

The Average True Range (ATR) for Kinross Gold Corporation is set at 0.41, with the Price to Sales ratio for KGC stock in the period of the last 12 months amounting to 2.43. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 0.73. Price to Free Cash Flow for KGC in the course of the last twelve months was 12.68 with Quick ratio for the last quarter at 1.00.

KGC stock trade performance evaluation

Kinross Gold Corporation [KGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.55. With this latest performance, KGC shares dropped by -15.64% in over the last four-week period, additionally plugging by 6.39% over the last 6 months – not to mention a rise of 78.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KGC stock in for the last two-week period is set at 37.83, with the RSI for the last a single of trading hit 34.91, and the three-weeks RSI is set at 40.90 for Kinross Gold Corporation [KGC]. The present Moving Average for the last 50 days of trading for this stock 8.77, while it was recorded at 8.21 for the last single week of trading, and 7.16 for the last 200 days.

Kinross Gold Corporation [KGC]: An insightful look at the core fundamentals

Kinross Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.80.

Earnings per share (EPS) analysis for Kinross Gold Corporation [KGC] stock

With the latest financial reports released by the company, Kinross Gold Corporation posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KGC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Kinross Gold Corporation go to 34.50%.

Kinross Gold Corporation [KGC]: Insider Ownership positions

There are presently around $5,225 million, or 69.90% of KGC stock, in the hands of institutional investors. The top three institutional holders of KGC stocks are: VAN ECK ASSOCIATES CORP with ownership of 130,303,559, which is approximately -9.609% of the company’s market cap and around 0.29% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 52,858,674 shares of the stock with an approximate value of $404.9 million in KGC stocks shares; and RUFFER LLP, currently with $306.65 million in KGC stock with ownership of nearly -6.062% of the company’s market capitalization.

151 institutional holders increased their position in Kinross Gold Corporation [NYSE:KGC] by around 71,346,471 shares. Additionally, 149 investors decreased positions by around 99,197,378 shares, while 40 investors held positions by with 511,511,588 shares. The mentioned changes placed institutional holdings at 682,055,437 shares, according to the latest SEC report filing. KGC stock had 62 new institutional investments in for a total of 29,829,077 shares, while 41 institutional investors sold positions of 9,074,074 shares during the same period.

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