Wall Street’s most bullish Kinross Gold Corporation (NYSE:KGC) analysts are predicting the share price to blow past $5 per share during the next 12 months. The current median share price forecast by them is $4, suggesting that the stock could increase 25.39% in that time frame. The average price target of $3.95 calls for a nearly 23.82% increase in the stock price.
Kinross Gold Corporation (KGC) trading activity significantly weakened as the volume at ready counter decreased to 10,116,166 shares versus 23,502,750 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 11,703,487 shares. The share price rose 0.95% in recent trade and currently has a stock-market value of $3.99B. The shares finished at $3.19, after trading as low as $3.135 earlier in the session. It hit an intraday high Friday at $3.22. The stock is now 34.03% above against its bear-market low of $2.38 on November 14, 2018. It has retreated -49.84% since it’s 52-week high of $4.78 reached in January. Now the market price is down -22.76% on the year and down -1.54% YTD.
KGC’s 50 day simple moving average (SMA 50) price is $2.86 and its 200-day simple moving average (SMA 200) price is $3.27. The company’s stock currently has a total float of 1.25B shares. Its weekly volatility is hovering around 3.47% and felt 4.98% volatility in price over a month. On the upside, the share price will test short term resistance at around $3.23. On a downside, the stock is likely to find some support, which begins at $3.14. The failure to get near-term support could push it to $3.1.
It had seen a negative analyst call from Credit Suisse, which downgraded the stock from Neutral to Underperform on December 19. Analysts at RBC Capital Mkts, shed their positive views on August 20 by lowering it fromOutperform to Sector Perform. The stock won favor of Macquarie analysts who expressed their confidence in it using an upgrade from Neutral to Outperform on November 10.
When looking at valuations, Kinross Gold Corporation (KGC) has a pricey P/E of 18.13x as compared to industry average of 15.81x. Moreover, it trades for 25.32 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.88x price/book and 1.23x price/sales. Compared to others, Kinross Gold Corporation is in a different league with regards to profitability, having net margins of 6.9%. To put some perspective around this, the industry’s average net margin is 4.59%. KGC’s ROE is 4.8%, which is also considerably worse than the industry’s ROE of 17.59%. It’s also very liquid in the near term, with a current ratio of 3.1. The stock has a debt/capital of 0.38.
Shares of Kinross Gold Corporation (KGC) have gained 19.5% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Kinross Gold Corporation (NYSE:KGC) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 5 quarters (41%), whereas at 1 occasion EPS met analyst expectations. KGC last reported earnings on November 07, 2018 when it released Sep-18 results that receded expectations. The company raked in -$0.04 per share, -100% change on the same period last year. That was worse than consensus for 0. Revenue for the recent quarter stood at $753.9 million, down -9% on last year and below the $780.39 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $729.93 million to $750 million, which should be compared with $855.36 million generated last year. EPS is seen in a range of 0 to $0.04, against the $0.02 reported a year ago.