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

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KGC. Jefferies Financial Group upped their price objective on 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 raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Finally, Scotiabank raised their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Performance

Shares of KGC stock traded up $0.39 during trading hours 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 debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The firm has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $9.05. The firm has a market capitalization of $12.19 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.43 and a beta of 1.22. Kinross Gold has a twelve month low of $4.75 and a twelve month 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 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The company 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 quarter last year, the business earned $0.12 earnings per share. As a group, equities analysts forecast that Kinross Gold will post 0.7 earnings per share for the current year.

Kinross Gold Dividend Announcement

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

Hedge Funds Weigh In On Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Kinross Gold by 5.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after acquiring an additional 642,007 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Kinross Gold by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after buying an additional 643,013 shares during the period. National Bank of Canada FI boosted its stake in Kinross Gold by 0.7% during the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after buying an additional 70,376 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Kinross Gold by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock worth $72,867,000 after acquiring an additional 1,777,076 shares during the period. Finally, Artemis Investment Management LLP lifted its holdings in Kinross Gold by 28.0% in the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after acquiring an additional 1,871,939 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.