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

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

Kinross Gold Trading Up 0.7 %

Shares of NYSE:KGC traded up $0.08 on Friday, hitting $10.31. 21,213,434 shares of the company’s stock were exchanged, compared to its average volume of 14,752,992. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21. Kinross Gold has a 12 month low of $4.75 and a 12 month high of $10.82. The business’s 50 day simple moving average is $9.78 and its two-hundred day simple moving average is $9.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The business’s revenue was up 29.9% compared to the same quarter last year. Analysts anticipate that Kinross Gold will post 0.72 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC raised its stake in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares during the last quarter. Corundum Trust Company INC acquired a new stake in shares of Kinross Gold in the third quarter worth $94,000. OneDigital Investment Advisors LLC acquired a new position in Kinross Gold during the third quarter valued at $94,000. EP Wealth Advisors LLC acquired a new stake in Kinross Gold during the 3rd quarter worth about $95,000. Finally, Fiera Capital Corp acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $99,000. 63.69% of the stock is currently owned by hedge funds and other 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.