The stock of Kinross Gold Corporation (NYSE:KGC) last traded at $4.99, up 3.74% from the previous session.
Data from the available sources indicates that Kinross Gold Corporation (NYSE:KGC) is covered by 18 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.11 and a low of $3.50, we find $6.50. Given the previous closing price of $4.81, this indicates a potential upside of 35.14 percent. KGC stock price is now 2.98% away from the 50-day moving average and 8.81% away from the 200-day moving average. The market capitalization of the company currently stands at $6.26B.
In total, 8 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $6.12 as their price target over the next twelve months.
With the price target maintained at $4.70, BofA Securities recently Downgraded its rating from Buy to Underperform for Kinross Gold Corporation (NYSE: KGC).
A total of 0.28% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KGC stock. A new stake in Kinross Gold Corporation shares was purchased by PRICE T ROWE ASSOCIATES INC /MD/ during the first quarter worth $11,398,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $8,833,000 in shares of KGC during the first quarter. In the first quarter, NATIXIS acquired a new stake in Kinross Gold Corporation valued at approximately $8,720,000. HILLSDALE INVESTMENT MANAGEMENT INC. acquired a new stake in KGC for approximately $7,963,000. POWER CORP OF CANADA purchased a new stake in KGC valued at around $4,535,000 in the second quarter. In total, there are 573 active investors with 69.90% ownership of the company’s stock.
With an opening price of $4.8300 on Monday morning, Kinross Gold Corporation (NYSE: KGC) set off the trading day. During the past 12 months, Kinross Gold Corporation has had a low of $3.09 and a high of $5.57. As of last week, the company has a debt-to-equity ratio of 0.42, a current ratio of 1.60, and a quick ratio of 0.60. The fifty day moving average price for KGC is $4.8480 and a two-hundred day moving average price translates $4.5900 for the stock.
The latest earnings results from Kinross Gold Corporation (NYSE: KGC) was released for Jun, 2023. According to the Gold Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.08 by 0.06. This compares to -$0.02 EPS in the same period last year. The net profit margin was 5.10% and return on equity was 3.40% for KGC. The company reported revenue of $1.09 billion for the quarter, compared to $821.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.96 percent. For the current quarter, analysts expect KGC to generate $1.04B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/08/2023. Investors who held shares on 08/24/2023 were paid a $0.03 dividend. On an annualized basis, this represents a $0.12 dividend and a 2.40% percent yield. There was an ex-dividend date of 08/23/2023 for this dividend. In terms of dividend payout ratio, KGC is presently at 73.90%.
Kinross Gold Corporation(KGC) Company Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver. Kinross Gold Corporation was founded in 1993 and is headquartered in Toronto, Canada.
