Do Investors Have Much Faith In Kinross Gold Corp. (NYSE: KGC)

Kinross Gold Corp. (NYSE:KGC) does about 16.27M shares in volume on a normal day but saw 13272634 shares change hands in Monday’s trading. The company now has a market cap of 9.33B USD. Its current market price is $7.59, marking no change compared to the previous close of $7.59. The 52 week high reached by this stock is $7.70 whilst the lowest price level in 52 weeks is $4.32.

Kinross Gold Corp. (KGC) has a 20-day trading average at $6.77 and the current price is -1.43% off the 52-week high compared with 75.69% distance from its 52-week low. The 50-day simple moving average of the closing price is $6.24 and its 200-day simple moving average is $5.51. If we look at the stock’s price movements over the week, volatility stands at 3.53%, which decreases to 3.36% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 76.43 to suggest the stock is overbought.

The consensus objective for the share price is $8.20, suggesting that the stock has a potential upside of 7.44% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 29, 2024 when Jefferies resumed the stock to “Hold” and issued a price target of between $5.50 and $5. BofA Securities downgraded its price target at $4.70.

Kinross Gold Corp. (KGC) stock is up 12.44% over the week and 18.97% over the past month. Its price is 25.45% year-to-date and 42.40% over the past year.

The stock last released its quarterly earnings report for quarter ended 3/31/2024, with the company’s earnings per share (EPS) of 0.14 above consensus estimates by 0.06. The company’s next earnings report forecasts estimating quarterly EPS at 0.1 and 0.46 for whole year. Expected sales for next quarter are $1.26B, which analysts say will come at $4.51B for the current fiscal year and next year at $4.41B. In addition, estimates put the company’s current quarterly revenue at an average of $1.11B.

To reach the target analysts have set, the stock logically needs to grow 7.44 percent from here.

The company has a return on investment of 5.85% and return on equity of 7.20%. The price to earnings ratio (P/E ratio) amounts to 21.67 while the forward price to earnings ratio is 15.28. The beta has a value of 1.20. Price to book ratio is 1.52 and price to sales ratio is 2.12.