Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 20,960,000 shares, a drop of 17.1% from the September 30th total of 25,270,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 14,660,000 shares, the short-interest ratio is currently 1.4 days.
Several analysts have issued reports on KGC shares. Raymond James restated an “outperform” rating and issued a $6.00 price target on shares of Kinross Gold in a research report on Friday, November 8th. Citigroup raised their price target on shares of Kinross Gold from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. CIBC set a $6.00 price objective on shares of Kinross Gold and gave the stock a “buy” rating in a report on Wednesday, September 18th. Beacon Securities reaffirmed a “buy” rating on shares of Kinross Gold in a report on Tuesday, October 8th. Finally, Royal Bank of Canada raised their price objective on shares of Kinross Gold from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.77.
Several large investors have recently added to or reduced their stakes in the company. Corient Capital Partners LLC bought a new position in shares of Kinross Gold during the 3rd quarter worth about $55,000. SG Americas Securities LLC bought a new position in Kinross Gold during the 3rd quarter valued at about $361,000. Symmetry Partners LLC bought a new position in Kinross Gold during the 3rd quarter valued at about $95,000. Atlas Capital Advisors LLC bought a new position in Kinross Gold during the 3rd quarter valued at about $224,000. Finally, Sigma Planning Corp bought a new position in Kinross Gold during the 3rd quarter valued at about $267,000. 52.98% of the stock is owned by institutional investors.
Shares of NYSE:KGC traded down $0.06 during midday trading on Friday, reaching $4.21. 8,147,958 shares of the company’s stock were exchanged, compared to its average volume of 13,492,690. The company’s 50 day simple moving average is $4.67 and its two-hundred day simple moving average is $4.23. The firm has a market capitalization of $5.35 billion, a PE ratio of 42.10 and a beta of -0.05. Kinross Gold has a 12 month low of $2.40 and a 12 month high of $5.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 2.71.
Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, November 6th. The mining company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. Kinross Gold had a net margin of 5.15% and a return on equity of 6.02%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. On average, research analysts anticipate that Kinross Gold will post 0.31 earnings per share for the current year.
Kinross Gold Company Profile
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.
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