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

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

Shares of KGC stock traded up $0.03 during mid-day trading on Tuesday, hitting $11.48. 8,419,608 shares of the stock traded hands, compared to its average volume of 20,857,994. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $11.68. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.61 and a beta of 1.23. The company’s 50-day simple moving average is $10.01 and its 200-day simple moving average is $9.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its 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 analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts expect that Kinross Gold will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Boothe Investment Group Inc. boosted its stake in shares of Kinross Gold by 1.7% during the 4th quarter. Boothe Investment Group Inc. now owns 853,105 shares of the mining company’s stock worth $7,908,000 after acquiring an additional 14,572 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Kinross Gold during the 4th quarter worth about $519,000. First Horizon Advisors Inc. boosted its stake in shares of Kinross Gold by 669.0% during the 4th quarter. First Horizon Advisors Inc. now owns 12,297 shares of the mining company’s stock worth $114,000 after acquiring an additional 10,698 shares in the last quarter. Leuthold Group LLC boosted its stake in shares of Kinross Gold by 152.0% during the 4th quarter. Leuthold Group LLC now owns 638,600 shares of the mining company’s stock worth $5,920,000 after acquiring an additional 385,161 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Kinross Gold by 1.0% during the 4th quarter. Allianz Asset Management GmbH now owns 5,127,891 shares of the mining company’s stock worth $47,600,000 after purchasing an additional 49,328 shares during the last quarter. Hedge funds and other 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.