Kinross Gold Corp. (NYSE: KGC) is a gold mining company based in Canada, with gold properties in its native country, the United States, Russia, Brazil, Ghana, Chile, Ecuador, and Mauritania. It is integrated from acquisition and exploration, through to development and production.
Kinross stock has grown 9.92% in the year to date, despite the volatility in the market. Confidence in gold has been increasing as investors see little benefit from recently announced government economic stimulus, including a proposed payroll tax cut. Coronavirus is causing extreme unrest in some of the most popular stocks. Gold could be a fairly safe pick in this current environment. Of course, nothing is guaranteed in the stock market.
Despite not having any guarantee of stability or growth, there is a strongly implied upside on this pick. The average price target of $6.16 suggests that this stock will grow above its current price. Income and revenue are strong, following an impressive year of growth in 2019. Last year, the company increased its top-line revenue by 11%, while gross income increased by 94% for a gross profit margin of 24.43%.
Gold is a valuable metal in various industries. It is widely used in electric vehicle production, solar energy production, and high-efficiency computer hardware. Any alternative investor looking for a promising bargain pick in today’s market should consider this stock. Even ignoring the current conditions, this is a strong stock to hold for long-term portfolios.
- 1 Year Price Growth: 01%
- YTD Price Growth: 92%
- 3 Month Price Growth: 87%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.