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Kinross Gold Corp. (KGC) Analysis & Forecast for 2024

Kinross Gold Corp. (NYSE: KGC) is 1.82% higher on its value in year-to-date trading and has touched a low of $4.32 and a high of $6.34 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The KGC stock was last observed hovering at around $6.13 in the last trading session, with the day’s gains setting it 0.03%.

Currently trading at $6.16, the stock is 10.42% and 14.40% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.64 million and changing 0.49% at the moment leaves the stock 17.72% off its SMA200. KGC registered 30.51% gain for a year compared to 6-month gain of 34.20%. The firm has a 50-day simple moving average (SMA 50) of $2.22 and a 200-day simple moving average (SMA200) of $5.34.

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The stock witnessed a 25.71% loss in the last 1 month and extending the period to 3 months gives it a 1.32%, and is 9.03% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.93% over the week and 3.50% over the month.

Current P/E ratio is 18.30 and Fwd P/E is 19.44. Profit margin for the company is 9.82%. Distance from 52-week low is 42.59% and -2.84% from its 52-week high. The company has generated returns on investments over the last 12 months (5.00%).

Kinross Gold Corp. quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $944M over the same period.The EPS is expected to shrink by -23.78% this year, but quarterly earnings will post -0.10% year-over-year. Quarterly sales are estimated to shrink -3.00% in year-over-year returns.

Kinross Gold Corp. (KGC) Top Institutional Holders

628 institutions hold shares in Kinross Gold Corp. (KGC), with institutional investors hold 67.89% of the company’s shares. The shares outstanding are 1.23B, and float is at 1.22B with Short Float at 0.98%. Institutions hold 67.70% of the Float.

The top institutional shareholder in the company is Van Eck Associates Corporation with over 150.7 million shares valued at $718.84 million. The investor’s holdings represent 12.28% of the KGC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 43.94 million shares valued at $209.6 million to account for 3.58% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 24.87 million shares representing 2.03% and valued at over $118.64 million, while Royal Bank of Canada holds 1.98% of the shares totaling 24.3 million with a market value of $115.93 million.

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