KGC Stock Summary and Trading Ideas (Kinross Gold | NYSE:KGC)

Kinross Gold is a Canada-based gold producer, producing roughly 2.2 million gold equivalent ounces in 2023. The company had about a decade of gold reserves at the end of 2023. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.

Kinross Gold trades on the NYSE stock market under the symbol KGC.

As of April 23, 2024, KGC stock price climbed to $6.51 with 3,632,242 million shares trading.

KGC has a beta of 0.62, meaning it tends to be less sensitive to market movements. KGC has a correlation of 0.04 to the broad based SPY ETF.

KGC has a market cap of $8.00 billion. This is considered a Mid Cap stock.

Last quarter Kinross Gold reported $1 billion in Revenue and $.11 earnings per share. This beat revenue expectation by $96 million and exceeded earnings estimates by $.01.

In the last 3 years, KGC stock traded as high as $8.34 and as low as $3.00.

The top ETF exchange traded funds that KGC belongs to (by Net Assets): GDX, GDXJ, DFIV, DFIC, DFAX.

KGC has outperformed the market in the last year with a price return of +33.7% while the SPY ETF gained +23.6%. KGC has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +20.2% and +1.7%, respectively, while the SPY returned +4.4% and -3.0%, respectively.

KGC support price is $6.29 and resistance is $6.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that KGC stock will trade within this expected range on the day.