How Analysts Feel About Kinross Gold Corporation (KGC) After Forming Bearish H&S Chart Pattern?

December 7, 2017 - By Marguerite Chambers

The stock of Kinross Gold Corporation (KGC) formed H&S with $3.67 target or 5.00 % below today’s $3.86 share price. The 6 months Head & Shoulders indicates high risk for the $4.85B company. It was reported on Dec, 7 by Faxor.com. If the $3.67 price target is reached, the company will be worth $242.60 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 decreased 1.03% or $0.04 during the last trading session, reaching $3.86. About 1.53M shares traded. Kinross Gold Corporation (NYSE:KGC) has declined 13.79% since December 7, 2016 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 EPS, up 200.00 % or $0.08 from last year’s $-0.04 per share. KGC’s profit will be $50.28 million for 24.13 P/E if the $0.04 EPS becomes a reality. After $0.07 actual EPS 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. $4.07’s average target is 5.44% above currents $3.86 stock price. Kinross Gold Corporation had 60 analyst reports since July 24, 2015 according to SRatingsIntel. Jefferies upgraded Kinross Gold Corporation (NYSE:KGC) on Thursday, July 14 to “Hold” rating. The rating was downgraded by BMO Capital Markets on Monday, December 19 to “Market Perform”. TD Securities maintained the stock with “Buy” rating in Thursday, October 19 report. RBC Capital Markets maintained it with “Buy” rating and $5.25 target in Monday, October 30 report. RBC Capital Markets maintained Kinross Gold Corporation (NYSE:KGC) on Monday, June 12 with “Buy” rating. RBC Capital Markets maintained Kinross Gold Corporation (NYSE:KGC) on Monday, September 25 with “Buy” rating. The firm has “Equal Weight” rating given on Friday, February 12 by Barclays Capital. The stock has “Outperform” rating by Credit Suisse on Tuesday, February 9. The firm has “Neutral” rating by UBS given on Thursday, February 25. The company was upgraded on Monday, May 29 by BMO Capital Markets.

More notable recent Kinross Gold Corporation (NYSE:KGC) news were published by: Fool.ca which released: “Why Kinross Gold Corporation Could Be a Glimmering Turnaround Play” on July 24, 2017, also Fool.ca with their article: “Which Is the Better Buy: Kinross Gold Corporation or Eldorado Gold Corp.?” published on September 08, 2017, Fool.ca published: “Time to Buy Kinross Gold Corporation?” on May 29, 2017. More interesting news about Kinross Gold Corporation (NYSE:KGC) were released by: Fool.ca and their article: “Gold Hits US$1330: Time to Buy Kinross Gold Corporation?” published on September 06, 2017 as well as Fool.ca‘s news article titled: “Should Kinross Gold Corporation or Barrick Gold Corp. Be in Your Portfolio?” with publication date: July 17, 2017.

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