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

Kinross Gold Co. (NYSE:KGC) (TSE:K) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 8,640,000 shares, a decline of 39.4% from the September 15th total of 14,260,000 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 15,920,000 shares, the short-interest ratio is presently 0.5 days.

Kinross Gold Stock Down 0.3 %

Shares of NYSE KGC opened at $9.82 on Friday. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 0.52 and a beta of 1.24. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.10. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $9.15 and its 200 day moving average is $8.12.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts expect that Kinross Gold will post 0.61 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is currently 29.27%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in Kinross Gold by 9.5% in the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after buying an additional 13,099,791 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Kinross Gold by 321.5% in the 2nd quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Kinross Gold in the 1st quarter valued at approximately $23,907,000. National Bank of Canada FI boosted its position in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after purchasing an additional 2,267,999 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Kinross Gold by 64.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after purchasing an additional 1,856,478 shares during the period. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

KGC has been the topic of a number of research reports. CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank lifted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average target price of $9.50.

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.