What’s Propelling Kinross Gold Corporation (KGC) to Decrease? The Stock Formed a Head & Shoulders Chart Pattern

January 16, 2018 - By marketbeat

The stock of Kinross Gold Corporation (KGC) formed H&S with $3.95 target or 9.00 % below today’s $4.34 share price. The 9 months Head & Shoulders indicates high risk for the $5.33 billion company. It was reported on Jan, 16 by Faxor.com. If the $3.95 price target is reached, the company will be worth $479.88 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 4.33% or $0.18 during the last trading session, reaching $4.34. About 13.44M shares traded or 55.40% up from the average. Kinross Gold Corporation (NYSE:KGC) has declined 13.79% since January 16, 2017 and is downtrending. It has underperformed by 30.49% the S&P500.

Analysts await Kinross Gold Corporation (NYSE:KGC) to report earnings on February, 21. They expect $0.04 earnings per share, up 200.00 % or $0.08 from last year’s $-0.04 per share. KGC’s profit will be $49.14 million for 27.13 P/E if the $0.04 EPS becomes a reality. After $0.07 actual earnings per share reported by Kinross Gold Corporation for the previous quarter, Wall Street now forecasts -42.86 % negative EPS growth.

Kinross Gold Corporation (NYSE:KGC) Ratings Coverage

Among 17 analysts covering Kinross Gold Corporation (NYSE:KGC), 8 have Buy rating, 0 Sell and 9 Hold. Therefore 47% are positive. Kinross Gold Corporation has $6 highest and $1.50 lowest target. $4.03’s average target is -7.14% below currents $4.34 stock price. Kinross Gold Corporation had 61 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of Kinross Gold Corporation (NYSE:KGC) has “Outperform” rating given on Monday, February 8 by BMO Capital Markets. The rating was downgraded by RBC Capital Markets to “Underperform” on Monday, August 24. The stock of Kinross Gold Corporation (NYSE:KGC) earned “Hold” rating by Jefferies on Thursday, July 14. The stock of Kinross Gold Corporation (NYSE:KGC) earned “Hold” rating by Canaccord Genuity on Tuesday, May 3. The company was upgraded on Friday, November 10 by Macquarie Research. The firm has “Buy” rating by RBC Capital Markets given on Tuesday, July 18. The stock has “Buy” rating by Bank of America on Tuesday, May 23. The stock of Kinross Gold Corporation (NYSE:KGC) has “Outperform” rating given on Thursday, March 31 by Raymond James. The rating was maintained by Jefferies on Monday, September 18 with “Hold”. IBC initiated the shares of KGC in report on Friday, July 24 with “Sector Perform” rating.

More notable recent Kinross Gold Corporation (NYSE:KGC) news were published by: Investorplace.com which released: “Trade of the Day: Kinross Gold Corporation (USA) (NYSE:KGC)” on July 07, 2016, also Fool.ca with their article: “Kinross Gold Corporation: Should This Be Your Top Gold Pick?” published on June 22, 2017, Fool.ca published: “Gold Investors: Kinross Gold Corporation vs. Barrick Gold Corp.” on June 08, 2017. More interesting news about Kinross Gold Corporation (NYSE:KGC) were released by: Fool.ca and their article: “Kinross Gold Corporation: A Golden Opportunity for Investors” published on June 09, 2017 as well as Fool.ca‘s news article titled: “Time to Buy Kinross Gold Corporation?” with publication date: May 29, 2017.

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