Kinross Gold Corporation Has Another Very Weak Trading Session Recording a Gap Down

 Kinross Gold Corporation Has Another Very Weak Trading Session Recording a Gap Down

The stock of Kinross Gold Corporation (TSE:K) gapped down by $0.04 today and has $3.97 target or 6.00% below today’s $4.22 share price. The 9 months technical chart setup indicates high risk for the $5.29 billion company. The gap down was reported on Nov, 23 by Barchart.com. If the $3.97 price target is reached, the company will be worth $317.40 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 3.64 million shares traded hands. Kinross Gold Corporation (TSE:K) has declined 20.27% since April 19, 2016 and is downtrending. It has underperformed by 25.60% the S&P500.

Kinross Gold Corporation (TSE:K) Ratings Coverage

Out of 5 analysts covering Kinross Gold Corporation (TSE:K), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $10 is the highest target while $2.25 is the lowest. The $7.92 average target is 87.68% above today’s ($4.22) stock price. Kinross Gold Corporation has been the topic of 13 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The stock of Kinross Gold Corporation (TSE:K) has “Outperform” rating given on Friday, September 23 by RBC Capital Markets. The stock of Kinross Gold Corporation (TSE:K) earned “Outperform” rating by RBC Capital Markets on Friday, August 26. The firm has “Sector Perform” rating given on Tuesday, November 24 by RBC Capital Markets. The company was maintained on Thursday, November 3 by Scotia Capital. The firm has “Neutral” rating given on Thursday, February 4 by JP Morgan.

Kinross Gold Corporation is gold mining company. The company has a market cap of $5.29 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment