Kinross Gold Co. (NYSE:KGC) Sees Significant Growth in Short Interest

Kinross Gold Co. (NYSE:KGCGet Free Report) (TSE:K) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 7,980,000 shares, a growth of 7.1% from the December 15th total of 7,450,000 shares. Based on an average daily volume of 16,430,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KGC. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus price target of $11.13.

Check Out Our Latest Analysis on KGC

Kinross Gold Price Performance

KGC stock opened at $10.31 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a market capitalization of $12.67 billion, a P/E ratio of 16.89, a PEG ratio of 0.51 and a beta of 1.21. The company has a fifty day moving average price of $9.80 and a 200-day moving average price of $9.51.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS. As a group, equities analysts expect that Kinross Gold will post 0.72 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.16%. Kinross Gold’s payout ratio is 19.67%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors have recently modified their holdings of the company. Capstone Investment Advisors LLC acquired a new position in Kinross Gold in the third quarter valued at $774,000. Gabelli Funds LLC lifted its stake in shares of Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after purchasing an additional 194,700 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at about $780,000. Geode Capital Management LLC grew its stake in Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after purchasing an additional 828,456 shares during the period. Finally, Raymond James & Associates increased its holdings in Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after purchasing an additional 69,520 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

(Get Free Report)

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.

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