What Next for Kinross Gold Corporation After Today’s Gap Up?

 What Next for Kinross Gold Corporation After Today's Gap Up?

The stock of Kinross Gold Corporation (TSE:K) gapped up by $0.06 today and has $6.97 target or 30.00% above today’s $5.36 share price. The 9 months technical chart setup indicates low risk for the $6.91B company. The gap was reported on Nov, 1 by Barchart.com. If the $6.97 price target is reached, the company will be worth $2.07 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 3.27M shares traded hands. Kinross Gold Corporation (TSE:K) has risen 30.58% since March 28, 2016 and is uptrending. It has outperformed by 27.56% the S&P500.

Kinross Gold Corporation (TSE:K) Ratings Coverage

Out of 3 analysts covering Kinross Gold Corporation (TSE:K), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Kinross Gold Corporation has been the topic of 10 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The stock of Kinross Gold Corporation (TSE:K) earned “Neutral” rating by JP Morgan on Thursday, February 4. The rating was upgraded by RBC Capital Markets to “Sector Perform” on Tuesday, November 24. The firm earned “Outperform” rating on Friday, August 26 by RBC Capital Markets. RBC Capital Markets maintained it with “Outperform” rating and $10 target price in Friday, September 23 report.

Another recent and important Kinross Gold Corporation (TSE:K) news was published by Fool.ca which published an article titled: “Barrick Gold Corp. or Kinross Gold Corporation: Which Is the Better Buy Right Now?” on October 18, 2016.

Kinross Gold Corporation is gold mining company. The company has a market cap of $6.91 billion. The Firm 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. It currently has negative earnings. The Company’s divisions include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

K.TO Company Profile

Kinross Gold Corporation is gold mining company. The Firm 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 Company’s divisions include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano. The Company’s gold production and exploration activities are carried out in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania. The Firm produces gold in the form of dore, which is shipped to refineries for final processing. The Firm also produces and sells silver.

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