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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 7,980,000 shares, an increase of 7.1% from the December 31st total of 7,450,000 shares. Based on an average daily trading volume, of 16,430,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.7% of the company’s shares are short sold.

Kinross Gold Trading Up 0.2 %

Shares of KGC traded up $0.03 during mid-day trading on Tuesday, reaching $11.48. The company’s stock had a trading volume of 8,419,608 shares, compared to its average volume of 20,857,994. The stock has a market cap of $14.10 billion, a PE ratio of 18.80, a P/E/G ratio of 0.61 and a beta of 1.23. 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 52 week low of $4.75 and a 52 week high of $11.68. The company’s fifty day moving average price is $10.01 and its two-hundred day moving average price is $9.64.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.12 EPS. The firm’s revenue was up 29.9% compared to the same quarter last year. On average, analysts predict that Kinross Gold will post 0.72 earnings per share for the current fiscal year.

Institutional Trading of Kinross Gold

Several institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC boosted its holdings in shares of Kinross Gold by 8.7% in the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after buying an additional 981 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Kinross Gold by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock worth $219,000 after buying an additional 1,106 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after buying an additional 1,235 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Kinross Gold by 9.6% in the fourth quarter. Blue Trust Inc. now owns 23,411 shares of the mining company’s stock worth $219,000 after buying an additional 2,060 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after buying an additional 2,180 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $11.13.

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.