Kinross Gold ( (TSE:K) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Kinross Gold shares have been under pressure even as analysts grow more optimistic about the broader Materials sector and more positive industry conditions. The recent shifts in analyst targets are driven mainly by an improved sector outlook and stronger conviction in the stock, supported by analysts’ track records, rather than any fresh, company-specific news. With Kinross recently trading in the mid-$30s, the consensus view now points to relatively limited upside in the near term despite this more constructive sentiment, weighing on the stock’s performance.
More about Kinross Gold
YTD Price Performance: 29.97%
Average Trading Volume: 9,201,424
Technical Sentiment Signal: Buy
Current Market Cap: $45.99B
For further insights into K stock on TipRanks’ Stock Analysis page.
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