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

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

Kinross Gold Price Performance

NYSE KGC traded up $0.08 during trading hours on Monday, reaching $10.31. The company’s stock had a trading volume of 21,213,434 shares, compared to its average volume of 14,752,992. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 0.51 and a beta of 1.21. The company’s 50-day moving average is $9.78 and its two-hundred day 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 has a 1-year low of $4.75 and a 1-year high of $10.82.

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

Kinross Gold Announces Dividend

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

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Kinross Gold by 634.7% in 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 last quarter. Artemis Investment Management LLP boosted its stake in shares of Kinross Gold by 28.0% in the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after acquiring an additional 1,871,939 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 worth $72,867,000 after acquiring an additional 1,777,076 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Kinross Gold in the 3rd quarter valued at $14,193,000. Finally, Toronto Dominion Bank raised its stake in Kinross Gold by 115.7% in the 3rd quarter. Toronto Dominion Bank now owns 2,078,490 shares of the mining company’s stock valued at $19,455,000 after purchasing an additional 1,114,801 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KGC. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group boosted their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.