As of Wednesday, Kinross Gold Corporation’s (NYSE:KGC) stock closed at $3.34, down from $3.43 the previous day. While Kinross Gold Corporation has underperformed by -2.62%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, KGC fell by -48.77%, with highs and lows ranging from $7.13 to $3.00, whereas the simple moving average fell by -36.02% in the last 200 days.
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On April 20, 2022, RBC Capital Mkts Downgraded Kinross Gold Corporation (NYSE: KGC) to Sector Perform. A report published by Credit Suisse on March 03, 2022, Downgraded its rating to ‘Neutral’ for KGC. Credit Suisse June 23, 2021d the rating to Outperform on June 23, 2021, and set its price target from $7.50 to $8. National Bank Financial June 22, 2021d its ‘Outperform’ rating to ‘Sector Perform’ for KGC, as published in its report on June 22, 2021. CIBC’s report from June 22, 2021 suggests a price prediction of $8.50 for KGC shares, giving the stock a ‘Neutral’ rating. JP Morgan also rated the stock as ‘Overweight’.
Analysis of Kinross Gold Corporation (KGC)
Investors in Kinross Gold Corporation will get a return regardless of how the company performs over the next quarter since the company’s dividend stands at $0.12 per share. Further, the quarter-over-quarter decrease in sales is -17.90%, showing a negative trend in the upcoming months.
One of the most important indicators of Kinross Gold Corporation’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -9.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and KGC is recording 21.93M average volume. On a monthly basis, the volatility of the stock is set at 4.86%, whereas on a weekly basis, it is put at 4.82%, with a gain of 3.41% over the past seven days.
How Do You Analyze Kinross Gold Corporation Shares?
The Gold market is dominated by Kinross Gold Corporation (KGC) based in the Canada. When comparing Kinross Gold Corporation shares with other companies under Basic Materials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 167.00, there is a growth in quarterly earnings of -108.20%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.23%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 69.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in KGC shares?
The recent increase in stakes in KGC appears to be a result of several institutional investors and hedge funds increasing their positions. Van Eck Associates Corp.’s position in KGC has increased by 54.35% in the first quarter. The company now owns 132,130,251 shares of the stock, with a value of $473.03 million, following the purchase of 46,525,744 additional shares during the last quarter. Ruffer LLP made another increased to its shares in KGC during the first quarter, upping its stake by 29.62%. During the last quarter, the company picked up 17,569,586 additional shares for a total stake of worth $275.22 million, bringing number of shares owned by the company to 76,878,243.
During the first quarter, Barclays Bank Plc added a 35,730,703 position in KGC. The Vanguard Group, Inc. sold an additional -2.03 million shares in the last quarter, decreasing its holdings by -6.24%, now holding 30.56 million shares worth $109.39 million. At the end of the first quarter, 1832 Asset Management LP increased its KGC holdings by 56.72% and now holds 26.54 million KGC shares valued at $95.02 million with the added 9.61 million shares during the period. KGC shares are owned by institutional investors to the tune of 69.90% at present.