Kinross Gold Corporation (KGC, Financial) experienced a notable stock movement with a 5.07% increase in its share price, reaching $10.57 per share. The trading volume hit 12.64 million shares, with a turnover rate of 1.03% and a price fluctuation of 4.62%.
Recent financial reports reveal that Kinross Gold generated $1.432 billion in revenue and a net profit of $355 million, translating to an earnings per share of $0.29. The company reported a gross profit of $586 million and a price-to-earnings ratio of 17.59.
Among analysts, 65% of the 17 institutions covering the stock recommend a buy, 18% suggest holding, and 17% advise selling. The gold industry, where Kinross Gold operates, saw an overall increase of 1.08%. Notable gainers in the sector include Hycroft Mining Holding Corporation, Fortuna Mining Corp., and Drdgold Ltd. Iamgold Corporation, Fortuna Mining Corp., and B2Gold Corp were active, with turnover rates of 2.44%, 2.26%, and 1.82%, respectively. Stocks with significant price fluctuations include Hycroft Mining Holding Corporation, Gold Resource, and Hycroft Mining Holding Corporation, with volatility of 37.50%, 14.00%, and 12.67%, respectively.
Kinross Gold, headquartered in Canada, is a major gold producer, with a 2023 output of approximately 2.2 million ounces. The company sold its low-cost Russian operations in 2022 in response to the Ukraine invasion, focusing on mines in the Americas and West Africa. It also acquired the Great Bear project in Canada, which could produce over 500,000 ounces of gold annually for at least ten years upon development.
