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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large decline in short interest in 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 trading volume, of 16,160,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Kinross Gold Stock Up 4.1 %

NYSE KGC traded up $0.39 on Tuesday, reaching $9.92. The stock had a trading volume of 16,303,202 shares, compared to its average volume of 15,507,616. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The business has a 50 day moving average price of $9.93 and a 200 day moving average price of $9.05. The company has a market capitalization of $12.19 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.43 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. Kinross Gold’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. On average, analysts forecast that Kinross Gold will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

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

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently modified their holdings of KGC. Artemis Investment Management LLP raised its position in Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after purchasing an additional 5,107,120 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Kinross Gold by 634.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after buying an additional 3,405,478 shares during the period. National Bank of Canada FI boosted its stake in Kinross Gold by 31.2% in the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after buying an additional 2,267,999 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Kinross Gold by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after acquiring an additional 1,777,076 shares during the period. Finally, Andra AP fonden bought a new position in shares of Kinross Gold during the second quarter valued at $13,181,000. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

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.