Short Interest in Kinross Gold Co. (KGC) Grows By 55.8%
Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 16,522,341 shares, a growth of 55.8% from the August 31st total of 10,605,195 shares. Based on an average trading volume of 11,215,636 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.3% of the company’s stock are short sold.
A number of analysts have recently commented on KGC shares. Jefferies Group LLC reissued a “hold” rating and issued a $3.75 price objective on shares of Kinross Gold in a research report on Thursday, September 21st. BMO Capital Markets reaffirmed a “buy” rating and issued a $5.25 target price on shares of Kinross Gold in a research report on Wednesday, September 20th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday, September 7th. Citigroup Inc. upgraded shares of Kinross Gold from a “sell” rating to a “neutral” rating and lifted their price target for the company from $3.25 to $4.75 in a research note on Friday, September 1st. Finally, ValuEngine upgraded shares of Kinross Gold from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Kinross Gold presently has a consensus rating of “Hold” and a consensus target price of $5.17.
Shares of Kinross Gold (NYSE:KGC) opened at 4.28 on Wednesday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 101.90 and a beta of 0.12. Kinross Gold has a 1-year low of $2.88 and a 1-year high of $4.91. The firm has a 50-day moving average price of $4.43 and a 200 day moving average price of $4.08.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. The business had revenue of $868.60 million during the quarter, compared to the consensus estimate of $825.02 million. Kinross Gold had a net margin of 3.65% and a return on equity of 3.08%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. On average, analysts predict that Kinross Gold will post $0.11 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI raised its stake in shares of Kinross Gold by 56.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,033,931 shares of the mining company’s stock worth $8,278,000 after purchasing an additional 730,634 shares during the period. Contrarius Investment Management Ltd grew its position in Kinross Gold by 4.0% during the second quarter. Contrarius Investment Management Ltd now owns 16,214,176 shares of the mining company’s stock valued at $65,992,000 after buying an additional 626,077 shares during the period. State of Wisconsin Investment Board grew its position in Kinross Gold by 2.4% during the second quarter. State of Wisconsin Investment Board now owns 1,350,184 shares of the mining company’s stock valued at $5,479,000 after buying an additional 31,400 shares during the period. FMR LLC grew its position in Kinross Gold by 18.7% during the first quarter. FMR LLC now owns 3,643,767 shares of the mining company’s stock valued at $12,851,000 after buying an additional 573,328 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Kinross Gold by 15.1% during the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock worth $322,000 after buying an additional 12,016 shares during the last quarter. Hedge funds and other institutional investors own 59.56% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Short Interest in Kinross Gold Co. (KGC) Grows By 55.8%” was first published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.watchlistnews.com/short-interest-in-kinross-gold-co-kgc-grows-by-55-8/1606444.html.
About Kinross Gold
Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
Receive News & Ratings for Kinross Gold Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.