What does this mean for Kinross? Massive buying potential??

BennyC · Feb 25, 2016

http://www.kinross.com/news-and-inv...50-Million-Bought-Deal-Financing/default.aspx

Does this mean the stock will remain at $3 for a few weeks then rally like crazy to catch its competitors? Or it is permanently damaged? Assuming gold continues to rally?

trendie · Feb 25, 2016

(where is pboyles? he would no doubt jump on this)

if you google "kinross gold" with "review" or "scam", in the past 2-3 years:

they revised their gold reserves down by a third;

they were subject to a class-action lawsuit (settled for $33m);

they are subject to a SEC investigation into corruption and bribery;

risk only money you can afford to lose.

malaguti · Feb 25, 2016

BennyC said:
http://www.kinross.com/news-and-inv...50-Million-Bought-Deal-Financing/default.aspx

Does this mean the stock will remain at $3 for a few weeks then rally like crazy to catch its competitors? Or it is permanently damaged? Assuming gold continues to rally?

the price action will tell you..don't go buying shares on a hunch that it "may" go up. the deal could fall through.
its been bottoming/basing for a year now and a new breakout has just happened the last couple of weeks. personally id wait for a retrace and then if it breaks that last high I'd be all over it. if it doesnt and just carries on up, then its just one of those things, I wouldn't go chasing it
thats just my opinion based on the technicals..nothing to do with news.

BennyC · Feb 25, 2016

I am new to buying actual stocks (was spread betting before) so for this to happen is a big shock!!

What is everyone's verdict given what's happened? Buy? Hold? Or sell? Why?

trendie · Feb 25, 2016

malaguti said:
the price action will tell you..don't go buying shares on a hunch that it "may" go up. the deal could fall through.
its been bottoming/basing for a year now and a new breakout has just happened the last couple of weeks. personally id wait for a retrace and then if it breaks that last high I'd be all over it. if it doesnt and just carries on up, then its just one of those things, I wouldn't go chasing it
thats just my opinion based on the technicals..nothing to do with news.

perfectly valid assessment.

I was coming from the angle that it seems to be a "canadian stock", "gold", which tends to be a warning signal, alongside the low stock price, virtually a penny stock.

aside from the technicals, you would also want to be sure their is sufficient liquidity as well as the width of the spreads when considering trading.
ie, can you sell easily without too much slippage, if you needed to.
if its a long-term investment, then fine.

platinumtrade · Mar 2, 2016

trendie said:
perfectly valid assessment.

I was coming from the angle that it seems to be a "canadian stock", "gold", which tends to be a warning signal, alongside the low stock price, virtually a penny stock.

aside from the technicals, you would also want to be sure their is sufficient liquidity as well as the width of the spreads when considering trading.
ie, can you sell easily without too much slippage, if you needed to.
if its a long-term investment, then fine.

Massive debt combined with investigations are never a good thing. Many red flags here. If you have money to gamble with and don't care if you lose it, this might be for you.

What does this mean for Kinross? Massive buying potential??

BennyC

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trendie

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malaguti

BennyC

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trendie

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