Kinross Gold Corporation (NYSE:KGC) finished Wednesday with an addition of $0.15 to close at $4.91, an upside of 3.15 percent. An average of 7,726,520 shares of common stock have been traded in the last five days. There was a gain of $0.20 in the past week, and it reached a new high 26 times over the past 12 months. The last 20 days have seen an average of 9,115,305 shares traded, while the 50-day average volume stands at 9,208,566.
KGC stock has decreased by -2.00% in the last month. The company shares reached their 1-month lowest point of $4.54 on 08/02/23. With the stock rallying to its 52-week high on 05/10/23, shares of the company touched a low of $3.09 and a high of $5.57 in 52 weeks. It has reached a new high 18 times so far this year and achieved 20.05% or $0.82 in price. In spite of this, the price is down -11.77% from the 52-week high.
Valuation Metrics
Kinross Gold Corporation (KGC) has a trailing price-to-earnings (P/E) ratio of 30.50. The stock’s beta is 0.97. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.54, the price-to-book (PB) ratio at 1.00, and the price-to-cash flow ratio at 14.02.
The company has a payout ratio of 73.90%. The company’s most recent quarterly dividend payment was $0.03 a share, without any change from last year. Its latest decrease dividend $0.05 reported on Monday September 21 2020.
Financial Health
The quick ratio of Kinross Gold Corporation for the three months ended June 29 was 0.60, and the current ratio was 1.60, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.33 and a total debt to equity ratio of 0.42 for the quarter ending June 29. Kinross Gold Corporation’s EBITDA margin for the year ending June 29 is 33.51%, while its operating margin for the same period stands at 10.40%. Its gross profit as reported stood at $515.4 million compared to revenue of $3.46 billion.
Earnings Surprise
For the three-month period that ended June 29, Kinross Gold Corporation had $107.7 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $718.6 million in the quarter, while revenues were grew 103.28%. The analyst consensus anticipated Kinross Gold Corporation’s latest quarter earnings to come in at $0.08 per share, but it turned out to be $0.14, a 75.00% surprise. For the quarter, EBITDA amounted to $477.1 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Kinross Gold Corporation (KGC) price momentum. RSI 9-day as of the close on 23 August was 55.03%, suggesting the stock is Neutral, with historical volatility in this time frame at 35.68%.
As of today, KGC’s price is $4.74 +4.25% or $0.20 from its 5-day moving average. KGC is currently trading -0.61% lower than its 20-day SMA and +3.37% higher than its 100-day SMA. However, the stock’s current price level is +1.45% above the SMA50 and +45.27% above the SMA200.
The stochastic %K and %D were 39.16% and 28.46%, respectively, and the average true range (ATR) was 0.15. With the 14-day stochastic at 58.49% and the average true range at 0.15, the RSI (14) stands at 52.38%. The stock has reached -0.01 on the 9-day MACD Oscillator while the 14-day reading was at -0.08.
Analyst Ratings
BofA Securities downgraded Kinross Gold Corporation (NYSE: KGC) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Kinross Gold Corporation (KGC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell KGC, while 8 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 9 others rate it as a “buy”.
What is KGC’s price target for the next 12 months?
Analysts predict a range of price targets between $3.50 and $8.11, with a median target of $6.50. Taking a look at these predictions, the average price target given by analysts for Kinross Gold Corporation (KGC) stock is $6.12.
