| Falling Earnings Estimates Signal Weakness Ahead for Kinross Gold (KGC) | |
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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio. One such stock that you may want to consider dropping is Kinross Gold Corporation (KGC), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in KGC. A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 9 estimates moving down in the past 60 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a gain of 2 cents a share a month ago to its current level at the loss of 4 cents. Also, for the current quarter, Kinross Gold has seen 5 downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to a loss of 2 cents a share from the breakeven point. The stock also has seen some pretty dismal trading lately, as the share price has dropped 24.2% in the past month. So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait. If you are still interested in the Gold Mining industry, you may instead consider a better-ranked stock –Pretium Resources Inc. (PVG). The stock currently holds a Zacks Rank #2 (Buy) and may be better selection at this time. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KINROSS GOLD (KGC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Kinross Gold Corporation
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PRODUCER |
CODE : K.TO |
ISIN : CA4969024047 |
CUSIP : 496902404 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kinross Gold is a gold producing company based in Canada. Kinross Gold produces gold, silver in Brazil, in Canada, in Chile, in Ghana, in Mauritania, in Russia and in USA, develops copper, gold and silver in Chile, and holds various exploration projects in Canada, in Chile and in Russia. Its main assets in production are ROUND MOUNTAIN in USA, CRIXÁS, MORRO DO OURO and PARACATU in Brazil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA and LA COIPA in Chile, PORCUPINE and MUSSELWHITE in Canada, CHIRANO in Ghana, TASIAST in Mauritania and KUPOL in Russia, its main assets in development are KETTLE RIVER, GOLD HILL and CERRO CASALE in Chile and its main exploration properties are AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI and GOLDBANKS - KINROSS in Ghana, FRUTA DEL NORTE in Ecuador, HAMMOND REEF in Canada, KUBAKA MINE - BIRKACHAN in Russia and LOBO-MARTE in Chile. Kinross Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 11.6 billions as of today (US$ 8.4 billions, € 7.9 billions). Its stock quote reached its lowest recent point on October 27, 2000 at CA$ 1.43, and its highest recent level on December 13, 2002 at CA$ 9.99. Kinross Gold has 1 246 749 952 shares outstanding. |