Kinross Gold Co. (NYSE:KGC) Short Interest Update

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 8,640,000 shares, a decrease of 39.4% from the September 15th total of 14,260,000 shares. Based on an average daily trading volume, of 15,920,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.7% of the company’s stock are sold short.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $9.82 on Monday. The firm has a market cap of $12.07 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 0.54 and a beta of 1.24. The business’s 50 day moving average is $9.17 and its 200-day moving average is $8.18. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. Equities research analysts predict that Kinross Gold will post 0.61 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.22%. Kinross Gold’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KGC. Jefferies Financial Group upped their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Scotiabank boosted their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Atlas Capital Advisors LLC bought a new position in Kinross Gold during the 2nd quarter worth $40,000. Fifth Third Bancorp increased its position in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the period. Advisor Resource Council bought a new position in shares of Kinross Gold in the first quarter worth $60,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold in the fourth quarter valued at about $63,000. Finally, Blue Trust Inc. lifted its position in Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after purchasing an additional 6,011 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.