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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 11,510,000 shares, a growth of 8.2% from the January 15th total of 10,640,000 shares. Based on an average daily trading volume, of 18,940,000 shares, the short-interest ratio is presently 0.6 days. Currently, 0.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Kinross Gold by 46.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,607,136 shares of the mining company’s stock valued at $24,168,000 after acquiring an additional 823,118 shares during the period. USS Investment Management Ltd purchased a new position in Kinross Gold during the fourth quarter valued at $2,505,000. Voloridge Investment Management LLC purchased a new stake in Kinross Gold in the fourth quarter worth about $14,395,000. Wexford Capital LP purchased a new stake in Kinross Gold in the fourth quarter worth about $338,000. Finally, Two Sigma Advisers LP lifted its position in shares of Kinross Gold by 44.9% during the 4th quarter. Two Sigma Advisers LP now owns 2,721,500 shares of the mining company’s stock valued at $25,228,000 after buying an additional 843,399 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of Kinross Gold stock traded down $0.15 during trading on Monday, hitting $11.27. 22,320,648 shares of the company’s stock traded hands, compared to its average volume of 20,737,160. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $12.28. The business has a 50-day simple moving average of $10.39 and a 200-day simple moving average of $9.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The stock has a market capitalization of $13.85 billion, a P/E ratio of 18.47, a PEG ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. As a group, analysts forecast that Kinross Gold will post 0.73 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KGC shares. CIBC raised their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $11.63.

About Kinross Gold

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.