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Home 2020 Kinross Gold Corporation (K.TO) Expected to Rise in August/September
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Kinross Gold Corporation (K.TO) Expected to Rise in August/September

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June 17, 2020
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    Kinross Gold Corporation (K.TO) Expected to Rise in August/September

    Rated As Best Value Gold Stock

    Kinross Gold Corporation
    Ticker: K.TO
    Price: CAD 8.51

    Kinross Gold Corporation KGC has reached an agreement with the government of mauritania to enhance their partnership.

    Per the terms of the deal, Kinross will receive a 30-year exploitation license for Tasiast Sud from the government under the 2012 Mining Convention and the 2008 Mining Code. Further, the deal reinstates the tax exemption on fuel duties and includes the repayment of around $40 million in outstanding VAT refunds to Kinross by the government.

    Post completion of the definitive agreements, Kinross will pay $10 million to the government to resolve disputed problems associated with fuel use and tax exemptions. Additionally, Kinross will pay $15 million upon receiving the earlier-mentioned exploitation license to resolve any disputed issues stemming from Kinross’ previous application to convert the Tasiast Sud exploration license into an exploitation license.

    The renewed partnership approach contemplates the government to receive a 15% free carried interest in Tasiast Sud together with an option to purchase a further 10% interest in the project once completion of additional feasibility works.

    Per Kinross, the balanced agreement will deliver increased stability and position Tasiast for long-term success along with providing advantages to mauritania and its people.

    Shares of Kinross have surged 85.7% in the past year compared with the industry’s 49% growth.

    Business Summary

    Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties.

    The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Paracatu, Kupol, Maricunga, Tasiast and Chirano.

    Fort Knox is an open-pit gold mine located in Fairbanks, Alaska. Round Mountain open-pit mine is located in Nye County, Nevada.

    Bald Mountain open-pit mine is located in Nevada. The Company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania.

    Gold is produced in the form of dore, which is shipped to refineries for final processing. Kinross also produces and sells a quantity of silver.

    Shayne Heffernan Trade Idea

    “We predict the future price of Kinross Gold will come in around CAD 11.95 which will give the stock a price increase of +40.42%.”

    Price Performance

    Relative Valuation

    Technical Indicators

    Overall, the bias in prices is: Sideways.

    The projected upper bound is: 9.47.

    The projected lower bound is: 7.61.

    The projected closing price is: 8.54.

    Candlesticks

    A black body occurred (because prices closed lower than they opened).
    During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 23 white candles and 24 black candles for a net of 1 black candles.

    Momentum Indicators

    Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

    Stochastic Oscillator

    One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 52.3648. This is not an overbought or oversold reading. The last signal was a buy 7 period(s) ago.

    Relative Strength Index (RSI)

    The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.21. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 34 period(s) ago.

    Commodity Channel Index (CCI)

    The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 1. This is not a topping or bottoming area. The last signal was a buy 5 period(s) ago.

    MACD

    The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 31 period(s) ago.

    Rex Takasugi – TD Profile

    KINROSS GOLD closed down -0.320 at 8.510. Volume was 19% below average (neutral) and Bollinger Bands were 10% narrower than normal.

    Open     High     Low      Close      Volume
    8.890    8.975    8.450    8.510      5,704,808
    Technical Outlook
    Short Term:        Neutral
    Intermediate Term: Bearish
    Long Term:         Bullish
    Moving Averages: 10-period     50-period      200-period
    Close:           8.50          9.09           6.99
    Volatility:      65            68             83
    Volume:          5,520,141     6,300,688      5,072,723

    Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

    Summary

    KINROSS GOLD is currently 21.8% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of K.TO at a relatively equal pace (neutral).

    Our trend forecasting oscillators are currently bearish on K.TO and have had this outlook for the last 15 periods.

    We invite you to try out any MetaStock product (including Add-Ons) for 30 days. If you are not convinced that it helps you make more accurate, educated trading decisions, just return it to us within the 30 days for a refund of the purchase price. It’s that simple. This policy does not apply to subscriptions.

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the Toronto Stock Market.

    Trading and investing carries a HIGH LEVEL OF RISK, you could lose some or all of your investment. Trading commodities or any other financial instrument may not be suitable for all traders. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite. We accept no liability for any losses or damages you may incur—this means that you alone are responsible for your actions in any trading or investing activities.

    Sources:
    Kinross Gold Company Website
    Thomson Reuters Metastock and Eikon financial tools

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