Kinross Gold Corporation [KGC] Is Currently 1.72 below its 200 Period Moving Avg: What Does This Mean?

Kinross Gold Corporation [NYSE: KGC] gained 1.72% or 0.08 points to close at $4.74 with a heavy trading volume of 16619124 shares. The company report on January 16, 2023 that Kinross announces ownership of shares of Allegiant Gold.

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

It opened the trading session at $4.66, the shares rose to $4.78 and dropped to $4.64, the range by which the price of stock traded the whole day. The daily chart for KGC points out that the company has recorded 53.40% gains over the past six months. However, it is still -58.0% lower than its most recent low trading price.

If we look at the average trading volume of 17.09M shares, KGC reached to a volume of 16619124 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $5.18 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 2.20. 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.

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 0.16, with the Price to Sales ratio for KGC stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.40.

Trading performance analysis for KGC stock

Kinross Gold Corporation [KGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.72. With this latest performance, KGC shares gained by 9.22% in over the last four-week period, additionally plugging by 53.40% over the last 6 months – not to mention a drop of -17.99% 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 66.42, with the RSI for the last a single of trading hit 70.80, and the three-weeks RSI is set at 63.53 for Kinross Gold Corporation [KGC]. The present Moving Average for the last 50 days of trading for this stock 4.20, while it was recorded at 4.62 for the last single week of trading, and 4.10 for the last 200 days.

Kinross Gold Corporation [KGC]: A deeper dive into fundamental analysis

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 1.30 and a Current Ratio set at 3.00.

An analysis of insider ownership at Kinross Gold Corporation [KGC]

There are presently around $3,320 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 139,097,377, which is approximately -5.165% of the company’s market cap and around 0.25% of the total institutional ownership; BARCLAYS PLC, holding 75,405,857 shares of the stock with an approximate value of $357.42 million in KGC stocks shares; and VANGUARD GROUP INC, currently with $209.11 million in KGC stock with ownership of nearly 4.05% of the company’s market capitalization.

Positions in Kinross Gold Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 154 institutional holders increased their position in Kinross Gold Corporation [NYSE:KGC] by around 78,358,881 shares. Additionally, 125 investors decreased positions by around 95,528,002 shares, while 65 investors held positions by with 526,462,981 shares. The mentioned changes placed institutional holdings at 700,349,864 shares, according to the latest SEC report filing. KGC stock had 47 new institutional investments in for a total of 15,822,128 shares, while 39 institutional investors sold positions of 12,946,781 shares during the same period.


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