Following these proceedings, RBC Capital Mkts downgraded its Kinross Gold Corporation [KGC] rating to a Sector perform from a an Outperform in a research note published on Tuesday. PT values the company’s stock at a premium of 19.67 to its Tuesday closing price. A number of analysts have revised their coverage, including Credit Suisse’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Neutral”. National Bank Financial also remained covering KGC and has increased its forecast on July 30, 2021 with a “an Outperform” recommendation from previously “Sector perform” rating. Credit Suisse revised its rating on June 23, 2021. It rated KGC as “an Outperform” which previously was an “a Neutral”.
Price Performance Review of KGC
On Tuesday, Kinross Gold Corporation [NYSE:KGC] saw its stock jump 1.69% to $4.82. On the same session, the stock had its day’s lowest price of $4.50, but rose to a high of $4.82. Over the last five days, the stock has gained 4.56%. Kinross Gold Corporation shares have risen nearly 17.85% since the year began. Nevertheless, the stocks have fallen -14.69% over the past one year. While a 52-week high of $6.34 was reached on 01/24/23, a 52-week low of $3.00 was recorded on 01/03/23. SMA at 50 days reached $4.30, while 200 days put it at $4.06. A total of 15.44 million shares were traded, compared to the trading of 10.96 million shares in the previous session.
Levels Of Support And Resistance For KGC Stock
The 24-hour chart illustrates a support level at 4.61, which if violated will result in even more drops to 4.39. On the upside, there is a resistance level at 4.93. A further resistance level may holdings at 5.03. The Relative Strength Index (RSI) on the 14-day chart is 65.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 0.00%. Stochastics %K at 95.18% indicates the stock is a selling.
How much short interest is there in Kinross Gold Corporation?
A steep rise in short interest was recorded in Kinross Gold Corporation stocks on Oct 13, 2022, growing by 4.71 million shares to a total of 60.26 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 55.55 million shares. There was a rise of 7.82%, which implies that there is a positive sentiment for the stock.
Kinross Gold Corporation [KGC] – Who Are The Largest Shareholders?
In filings from Van Eck Associates Corp., it is revealed that the company now owns 124,426,810 shares, or roughly 9.91% of the outstanding KGC shares. In other words, the investor’s shares have fallen by -14,670,567 from its previous 13-F filing of 139097377.0. Additionally, Barclays Bank Plc increased 17.21% of its stake after which the total value it holdings stand at $289,267,197, while The Vanguard Group, Inc. added 3.59% of its stake to hold $132.37 million in the firm. Over the last quarter, 1832 Asset Management LP purchased 772,151 shares of Kinross Gold Corporation, while Renaissance Technologies LLC bought -340,100 shares. At present, RBC Global Asset Management, Inc. is holding 18,482,767 shares valued at $75.59 million. Ruffer LLP owned 17,053,271 shares of the company at the time of its most recent 13F filing, worth $69.75 million.
According to FactSet, Kinross Gold Corporation’s share price will average $5.45 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.03 percent from its previous closing price of $4.74. Analysts expect Kinross Gold Corporation stock to reach the higher price of $7.47, while the lowest price estimate is $3.75. However, 17 analysts have rated KGC stock as an Overweight in their predictions for 2023.