Kinross Gold Corporation (NYSE:KGC) is one of the stocks that are taking the center stage today as the company shares are trading 4.13% or 0.19 points higher from last closing price of $4.6, reaching $4.79 at last check. So what’s going on with KGC shares anyway? The price has risen in 1 of the last 5 days and is up 26.03% over the past week. It will be exciting to see whether the stock manages to continue increasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -9,390,789 shares, and in total 8.755 million shares valued at $41.938 million were seen changing hands compared with 18.146 million shares valued at $83.473 million recorded at the previous session. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes in KGC stock for the next couple of days.
Kinross Gold Corporation (KGC) shares have notched a 3-month gain of about 26.03%, but has still advanced 41.98% year to date. By comparison, the stock added 68.5% over the past 12 months, while it slipped -7.82% over the 1 month. The company’s market cap is around $6.1B, with its short interest ratio standing at 1.12%.
In the current trading session for KGC, the stock witnessed two major price actions, it rose to a high of $4.81 and was down as much as $4.51 at one point. The high recorded is very low when compared to their 52-week high which is $2.38. The 52-week high is now at -12.25 distance from current price. Their recent low of $5.47 represents a 101.68% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for KGC is $5.52, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
KGC‘s last price was up 28.01% as compared to the average trading price of 50 days recorded at $3.74 while enlarging the period to 200 trading days, the average closing price was $4.81. At present, there are 1.33 billion in the total number of common shares owned by the public and among those 1.25 billion shares have been available to trade. The percentage of shares being held by the company management was 9.04% while institutions stake was 69.9%. The company has generated positive returns on equity over the last 12 months (0.1%). It managed to keep its gross profit margin at 20% over the past 12 months.
When assessing the full upside of the KGC stock, there is another set of technicals that should be looked into and considered. Its -4.12% decline from moving average of $5 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of -0.12 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Kinross Gold Corporation — 6 analysts rate the stock as a buy with another 0 rating it strong buy. There are 5 analysts who maintain a hold rating for the stock, with 1 giving it a sell rating. Analysts arrived at a 12-month price target of $4.545 on shares of Kinross Gold Corporation (NYSE:KGC), which corresponds to 4.92% downside potential than its current market price of $4.79 and implies potential despite the recent advance in the price. However, their current target price has climbed from $3.9625 a month ago and is up handily from the consensus target of $3.8 a quarter ago.
In the last five years, the EPS of the company has been roughly 62.8%. Though the percentage looks encouraging, extra tailwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will increase annually by 9.86%. The revenue of the company has retreated at an average annualized rate of about -3.2 over the last five years. The company recently recorded an increase of 8.1%, but this figure is rather unattractive.
Let’s briefly check the hedge fund interest towards KGC stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed position in the company after it dumped -4% or 1,523,082 shares of its common stock. The hedge fund now owns 1,462,159 shares worth $7,003,742, SEC documents show. Toronto Dominion Bank cut assets in the stock as 7041883 shares have been sold, reducing its stake by -23% to 5,422,250 shares which are currently valued at $25,972,578. In addition, Mackenzie Financial Corp recently reported that it now owns 2,487,591 shares making a total of $11,915,561 based on the recent price. This refelects a change of 4.2% in their ownership.