Kinross Gold Corporation (NYSE: KGC)’s stock price has soared by 3.38 in relation to previous closing price of 5.02. Nevertheless, the company has seen a gain of 8.80% in its stock price over the last five trading days. Seeking Alpha reported 2023-09-13 that Kinross Gold Corporation released its second quarter 2023 results, reporting revenues of $1,092.3 million and a net income of $151.0 million. The company owns six producing mines and two advanced projects, including the Great Bear project in Canada and the Manh Choh project in Alaska. Kinross Gold expects to produce approximately 2.1 million Au eq. Oz. in 2023 and has outperformed other gold companies on the stock market.
Is It Worth Investing in Kinross Gold Corporation (NYSE: KGC) Right Now?
The price-to-earnings ratio for Kinross Gold Corporation (NYSE: KGC) is above average at 32.24x. The 36-month beta value for KGC is also noteworthy at 0.96. There are mixed opinions on the stock, with 10 analysts rating it as a “buy,” 0 rating it as “overweight,” 8 rating it as “hold,” and 1 rating it as “sell.”
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The average price estimated by analysts for KGC is $6.20, which is $0.76 above than the current price. The public float for KGC is 1.22B, and at present, short sellers hold a 1.14% of that float. The average trading volume of KGC on September 15, 2023 was 9.19M shares.
KGC’s Market Performance
KGC’s stock has seen a 8.80% increase for the week, with a 10.19% rise in the past month and a 6.57% gain in the past quarter. The volatility ratio for the week is 2.64%, and the volatility levels for the past 30 days are at 2.84% for Kinross Gold Corporation The simple moving average for the last 20 days is 6.39% for KGC’s stock, with a simple moving average of 11.94% for the last 200 days.
KGC Trading at 5.85% from the 50-Day Moving Average
After a stumble in the market that brought KGC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.74% of loss for the given period.
Volatility was left at 2.84%, however, over the last 30 days, the volatility rate increased by 2.64%, as shares surge +10.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.30% upper at present.
During the last 5 trading sessions, KGC rose by +8.07%, which changed the moving average for the period of 200-days by +30.51% in comparison to the 20-day moving average, which settled at $4.90. In addition, Kinross Gold Corporation saw 26.89% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for KGC
Current profitability levels for the company are sitting at:
- +10.08 for the present operating margin
- +19.85 for the gross margin
The net margin for Kinross Gold Corporation stands at +0.92. The total capital return value is set at 4.11, while invested capital returns managed to touch 0.38. Equity return is now at value 3.40, with 1.90 for asset returns.
Based on Kinross Gold Corporation (KGC), the company’s capital structure generated 45.34 points at debt to equity in total, while total debt to capital is 31.20. Total debt to assets is 25.40, with long-term debt to equity ratio resting at 44.30. Finally, the long-term debt to capital ratio is 30.48.
The receivables turnover for the company is 35.68 and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.30.
Conclusion
In summary, Kinross Gold Corporation (KGC) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
