Kinross Gold Corporation [KGC] moved up 4.74: Why It’s Important

Kinross Gold Corporation [NYSE: KGC] price surged by 4.74 percent to reach at $0.17. The company report on September 29, 2022 that Kinross announces approval to increase normal course issuer bid as part of enhanced share buyback program.


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(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.).

Kinross Gold Corporation (“Kinross” or the “Company”) (TSX: K, NYSE: KGC) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the notice filed by the Company to amend its normal course issuer bid (“NCIB”) program effective as of October 4, 2022.

A sum of 27639361 shares traded at recent session while its average daily volume was at 18.01M shares. Kinross Gold Corporation shares reached a high of $3.8476 and dropped to a low of $3.565 until finishing in the latest session at $3.76.

The average equity rating for KGC stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Kinross Gold Corporation [KGC]:

RBC Capital Mkts have made an estimate for Kinross Gold Corporation shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on April 20, 2022. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $7 to $5.25. The new note on the price target was released on March 03, 2022, representing the official price target for Kinross Gold Corporation stock. On June 23, 2021, analysts increased their price target for KGC shares from 7.50 to 8.

The Average True Range (ATR) for Kinross Gold Corporation is set at 0.20, with the Price to Sales ratio for KGC stock in the period of the last 12 months amounting to 1.41. The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 0.57.

KGC Stock Performance Analysis:

Kinross Gold Corporation [KGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.60. With this latest performance, KGC shares gained by 14.63% in over the last four-week period, additionally sinking by -36.05% over the last 6 months – not to mention a drop of -29.85% 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 61.14, with the RSI for the last a single of trading hit 66.23, and the three-weeks RSI is set at 57.52 for Kinross Gold Corporation [KGC]. The present Moving Average for the last 50 days of trading for this stock 3.43, while it was recorded at 3.48 for the last single week of trading, and 4.65 for the last 200 days.

Insight into Kinross Gold Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Kinross Gold Corporation [KGC] shares currently have an operating margin of +18.66 and a Gross Margin at +27.22. Kinross Gold Corporation’s Net Margin is presently recorded at +5.93.

Return on Equity for this stock inclined to 3.32, with Return on Assets sitting at 2.05.

Kinross Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 3.00.

KGC Stock EPS

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 -4.25%.

Kinross Gold Corporation [KGC] Insider Position Details

There are presently around $2,716 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 146,672,975, which is approximately 71.338% of the company’s market cap and around 0.23% of the total institutional ownership; BARCLAYS PLC, holding 60,450,207 shares of the stock with an approximate value of $227.29 million in KGC stocks shares; and RUFFER LLP, currently with $193.57 million in KGC stock with ownership of nearly -33.034% of the company’s market capitalization.

Positions in Kinross Gold Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 131 institutional holders increased their position in Kinross Gold Corporation [NYSE:KGC] by around 167,445,604 shares. Additionally, 166 investors decreased positions by around 82,321,353 shares, while 64 investors held positions by with 472,520,641 shares. The mentioned changes placed institutional holdings at 722,287,598 shares, according to the latest SEC report filing. KGC stock had 39 new institutional investments in for a total of 24,430,081 shares, while 64 institutional investors sold positions of 16,684,637 shares during the same period.

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