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

Kinross Gold Co. (NYSE:KGC) (TSE:K) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 11,890,000 shares, a growth of 22.5% from the February 28th total of 9,710,000 shares. Based on an average trading volume of 21,070,000 shares, the short-interest ratio is currently 0.6 days. Approximately 1.0% of the company’s shares are short sold.

Kinross Gold Stock Up 0.8 %

KGC stock traded up $0.10 during midday trading on Wednesday, hitting $12.70. 2,046,722 shares of the company’s stock were exchanged, compared to its average volume of 17,473,169. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The firm has a 50 day moving average price of $11.49 and a 200-day moving average price of $10.44. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold has a 12-month low of $6.16 and a 12-month high of $12.90.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. On average, analysts anticipate that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors have recently modified their holdings of the company. PKO Investment Management Joint Stock Co bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $5,398,000. Comprehensive Money Management Services LLC acquired a new position in shares of Kinross Gold during the fourth quarter valued at approximately $312,000. Polar Asset Management Partners Inc. raised its holdings in Kinross Gold by 93.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock worth $1,718,000 after purchasing an additional 89,313 shares in the last quarter. Mackenzie Financial Corp lifted its position in Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock worth $129,435,000 after purchasing an additional 2,438,445 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Kinross Gold during the 4th quarter valued at $758,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of recent analyst reports. CIBC increased their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 22nd. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.63.

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.