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

Kinross Gold Co. (NYSE:KGC) (TSE:K) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 11,560,000 shares, a decline of 9.7% from the October 31st total of 12,800,000 shares. Based on an average daily volume of 16,160,000 shares, the short-interest ratio is currently 0.7 days. Approximately 1.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Finally, Scotiabank lifted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

KGC stock traded up $0.39 during mid-day trading on Tuesday, hitting $9.92. The stock had a trading volume of 16,303,202 shares, compared to its average volume of 15,507,616. The firm has a market capitalization of $12.19 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.43 and a beta of 1.22. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $9.93 and a 200 day simple moving average of $9.05. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly 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. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s payout ratio is currently 19.67%.

Institutional Trading of Kinross Gold

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in Kinross Gold by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,080,957 shares of the mining company’s stock worth $10,804,000 after purchasing an additional 6,634 shares during the last quarter. Tidal Investments LLC boosted its position in Kinross Gold by 354.9% during the third quarter. Tidal Investments LLC now owns 48,068 shares of the mining company’s stock valued at $450,000 after acquiring an additional 37,502 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Kinross Gold during the 3rd quarter worth about $248,000. Te Ahumairangi Investment Management Ltd raised its position in shares of Kinross Gold by 6.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 298,800 shares of the mining company’s stock worth $2,786,000 after acquiring an additional 18,000 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Kinross Gold by 107.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 44,538 shares of the mining company’s stock valued at $417,000 after purchasing an additional 23,023 shares during the period. Institutional investors own 63.69% of the company’s stock.

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.