Short Interest in Kinross Gold Co. (NYSE:KGC) Grows By 15.0%

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 13,690,000 shares, an increase of 15.0% from the March 15th total of 11,900,000 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 13,700,000 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

KGC has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Kinross Gold in a research note on Thursday, February 29th. They set a “hold” rating and a $5.00 price objective for the company. CIBC boosted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Finally, StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.28.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC purchased a new stake in Kinross Gold during the 4th quarter valued at about $26,000. S.A. Mason LLC purchased a new stake in Kinross Gold during the 3rd quarter valued at about $27,000. Steward Partners Investment Advisory LLC grew its position in Kinross Gold by 790.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,450 shares of the mining company’s stock valued at $27,000 after purchasing an additional 3,950 shares during the last quarter. CWM LLC grew its position in Kinross Gold by 353.2% during the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after purchasing an additional 5,750 shares during the last quarter. Finally, Natixis purchased a new stake in Kinross Gold during the 4th quarter valued at about $35,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Down 1.6 %

NYSE KGC traded down $0.10 during trading on Tuesday, hitting $6.31. The company had a trading volume of 19,345,379 shares, compared to its average volume of 14,111,113. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a one year low of $4.32 and a one year high of $6.81. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.08 and a beta of 1.15. The company’s fifty day moving average is $5.59 and its 200-day moving average is $5.55.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that Kinross Gold will post 0.35 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is presently 35.29%.

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.