Kinross Gold Co. (NYSE:KGC) Short Interest Up 7.1% in January

Kinross Gold Co. (NYSE:KGCGet Free Report) (TSE:K) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 7,980,000 shares, a growth of 7.1% from the December 31st total of 7,450,000 shares. Based on an average daily volume of 16,430,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.7% of the company’s stock are sold short.

Kinross Gold Stock Up 0.0 %

NYSE:KGC traded up $0.01 during trading hours on Tuesday, hitting $11.46. 10,590,250 shares of the stock traded hands, compared to its average volume of 20,965,896. The firm has a 50 day moving average price of $10.01 and a 200 day moving average price of $9.64. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $11.68. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 0.61 and a beta of 1.23.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.12 earnings per share. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities research analysts anticipate that Kinross Gold will post 0.72 earnings per share for the current year.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently modified their holdings of KGC. Global Retirement Partners LLC raised its holdings in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,788 shares in the last quarter. Avior Wealth Management LLC increased its position in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after buying an additional 5,140 shares during the last quarter. Valley National Advisers Inc. acquired a new position in Kinross Gold during the fourth quarter worth $92,000. Corundum Trust Company INC acquired a new position in Kinross Gold during the third quarter worth $94,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Kinross Gold during the third quarter worth $94,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and an average price target of $11.13.

Read Our Latest Analysis on Kinross Gold

Kinross Gold Company Profile

(Get Free Report)

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.

Further Reading

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