Kinross Gold Co. (NYSE:KGC – Get Free Report) TSE: K was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 18,900,000 shares, a drop of 13.5% from the November 30th total of 21,860,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 13,560,000 shares, the days-to-cover ratio is currently 1.4 days.
Analyst Ratings Changes
A number of equities analysts have weighed in on KGC shares. Raymond James cut their target price on shares of Kinross Gold from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Tuesday, November 28th. TheStreet upgraded shares of Kinross Gold from a “c+” rating to a “b-” rating in a research report on Thursday, November 30th. Desjardins began coverage on shares of Kinross Gold in a research report on Monday, September 11th. They issued a “buy” rating for the company. CIBC raised their price objective on shares of Kinross Gold from $6.25 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Finally, Jefferies Financial Group cut their price objective on shares of Kinross Gold from $5.00 to $4.65 and set a “hold” rating for the company in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.04.
Get Our Latest Analysis on KGC
Kinross Gold Price Performance
Shares of KGC stock traded down $0.03 during trading hours on Monday, hitting $6.05. 9,875,200 shares of the company’s stock were exchanged, compared to its average volume of 12,703,743. The company has a market capitalization of $7.43 billion, a PE ratio of 30.25, a PEG ratio of 0.97 and a beta of 0.98. Kinross Gold has a 12-month low of $3.40 and a 12-month high of $6.34. The business’s 50 day simple moving average is $5.66 and its 200-day simple moving average is $5.15. The company has a current ratio of 2.70, a quick ratio of 1.06 and a debt-to-equity ratio of 0.39.
Kinross Gold (NYSE:KGC – Get Free Report) TSE: K last issued its earnings results on Wednesday, November 8th. The mining company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Kinross Gold had a net margin of 5.83% and a return on equity of 8.43%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $964.04 million. On average, equities research analysts anticipate that Kinross Gold will post 0.41 earnings per share for the current year.
Kinross Gold Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, November 29th. Kinross Gold’s payout ratio is 60.00%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in Kinross Gold by 3.1% in the 2nd quarter. Van ECK Associates Corp now owns 150,701,196 shares of the mining company’s stock worth $718,851,000 after buying an additional 4,529,091 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after purchasing an additional 463,035 shares during the last quarter. Millennium Management LLC increased its holdings in Kinross Gold by 207.3% in the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock worth $67,244,000 after acquiring an additional 11,097,512 shares in the last quarter. Bank of Nova Scotia increased its holdings in Kinross Gold by 1.7% in the 2nd quarter. Bank of Nova Scotia now owns 14,898,937 shares of the mining company’s stock worth $71,079,000 after acquiring an additional 245,265 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Kinross Gold by 374.2% in the 1st quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock worth $68,230,000 after acquiring an additional 9,285,284 shares in the last quarter. 49.80% of the stock is owned by hedge funds and other institutional investors.
Kinross Gold Company Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition,…
Read More: Kinross Gold Co. (NYSE:KGC) Short Interest Update