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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large increase in short interest in November. As of November 29th, there was short interest totalling 13,780,000 shares, an increase of 12.7% from the November 14th total of 12,230,000 shares. Based on an average daily volume of 13,190,000 shares, the short-interest ratio is currently 1.0 days. Approximately 1.1% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KGC. Millennium Management LLC increased its position in shares of Kinross Gold by 86.1% during the third quarter. Millennium Management LLC now owns 9,559,496 shares of the mining company’s stock worth $43,973,000 after acquiring an additional 4,422,966 shares in the last quarter. Man Group plc bought a new stake in Kinross Gold in the third quarter valued at $2,220,000. Squarepoint Ops LLC increased its stake in Kinross Gold by 577.6% in the third quarter. Squarepoint Ops LLC now owns 116,956 shares of the mining company’s stock valued at $538,000 after purchasing an additional 99,695 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Kinross Gold during the third quarter valued at about $1,404,000. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Kinross Gold by 49.7% during the third quarter. Parametric Portfolio Associates LLC now owns 2,482,950 shares of the mining company’s stock valued at $11,422,000 after purchasing an additional 823,785 shares during the period. 52.22% of the stock is currently owned by institutional investors.

NYSE KGC traded up $0.04 on Friday, reaching $4.40. The company had a trading volume of 248,309 shares, compared to its average volume of 9,545,853. The stock’s 50 day moving average is $4.43 and its 200-day moving average is $4.39. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 43.55 and a beta of -0.17. The company has a quick ratio of 0.99, a current ratio of 2.71 and a debt-to-equity ratio of 0.39. Kinross Gold has a 52 week low of $2.77 and a 52 week high of $5.47.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, November 6th. The mining company reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $877.10 million during the quarter, compared to analysts’ expectations of $908.75 million. Kinross Gold had a net margin of 5.15% and a return on equity of 6.02%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. As a group, analysts forecast that Kinross Gold will post 0.31 EPS for the current year.

A number of research analysts have commented on KGC shares. Barclays reiterated an “equal weight” rating and set a $5.00 price objective on shares of Kinross Gold in a research note on Tuesday, October 15th. They noted that the move was a valuation call. CIBC set a $6.00 target price on shares of Kinross Gold and gave the company a “buy” rating in a research report on Wednesday, September 18th. ValuEngine lowered shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.00 price objective on shares of Kinross Gold in a report on Thursday, December 5th. Finally, Citigroup boosted their price target on shares of Kinross Gold from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.67.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

Further Reading: Oversold

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