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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 14,730,000 shares, an increase of 32.5% from the May 15th total of 11,120,000 shares. Based on an average daily volume of 16,330,000 shares, the short-interest ratio is currently 0.9 days. Currently, 1.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Scotiabank raised their target price on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. BMO Capital Markets raised their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group boosted their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.59.

Hedge Funds Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in Kinross Gold by 9.5% in the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after buying an additional 13,099,791 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold in the 4th quarter valued at $265,327,000. Ruffer LLP grew its holdings in shares of Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after purchasing an additional 877,104 shares during the last quarter. Finally, Boston Partners increased its position in shares of Kinross Gold by 7.9% during the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock worth $111,730,000 after purchasing an additional 1,328,372 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Up 0.4 %

Shares of KGC opened at $7.41 on Monday. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $8.27. The firm has a market capitalization of $9.11 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.48 and a beta of 1.22. The company has a 50-day simple moving average of $7.25 and a 200-day simple moving average of $6.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. Kinross Gold’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. On average, equities research analysts expect that Kinross Gold will post 0.51 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s dividend payout ratio is 33.33%.

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.