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After Hitting a New 52-Week Low, Is Kinross Gold a Buy?

·5-min read
After Hitting a New 52-Week Low, Is Kinross Gold a Buy?
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Kinross Gold (NYSE: KGC) is in a hole as deep as the gold nuggets it digs up, with its stock setting new 52-week lows almost daily. After peaking in late 2020 at $10.31, shares of the gold miner have lost almost half their value. The rise and subsequent fall of Kinross Gold and most other gold miners (the sector is a sea of red) was the result of the sharp increase in value of an ounce of gold from around $1,500 in January 2020 to almost $2,100 last September, and its subsequent retreat since then.

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