Kinross Gold Corporation (NYSE:KGC) has tumbled 3.86% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.2% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.71%. Kinross Gold Corporation (NYSE:KGC) has underperformed the index by 0.71% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Kinross Gold Corporation (NYSE:KGC): The stock opened at $5.12 on Friday but the bulls could not build on the opening and the stock topped out at $5.17 for the day. The stock traded down to $4.87 during the day, due to lack of any buying support eventually closed down at $4.98 with a loss of -0.60% for the day. The stock had closed at $5.01 on the previous day. The total traded volume was 60,866,936 shares.
The company shares have rallied 119.38% from its 1 Year high price. On May 2, 2016, the shares registered one year high at $5.82 and the one year low was seen on Jan 19, 2016. The 50-Day Moving Average price is $5.02 and the 200 Day Moving Average price is recorded at $3.28.
Many analysts have stated their opinion on the company shares. Canaccord Genuity upgrades its rating on Kinross Gold Corporation (NYSE:KGC). Analysts at the Canaccord Genuity have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on May 26, 2016. Currently the company Insiders own 1% of Kinross Gold Corporation shares according to the proxy statements. Institutional Investors own 64.12% of Kinross Gold Corporation shares.
Kinross Gold Corporation is a senior gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Companys segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano. Its gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania. Its gold is produced in the form of dore, which is shipped to refineries for final processing. It also produces and sells silver.