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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 10,140,000 shares, a decline of 11.9% from the January 31st total of 11,510,000 shares. Based on an average daily volume of 19,490,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KGC. CIBC boosted their price objective on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in Kinross Gold during the third quarter valued at approximately $774,000. Mediolanum International Funds Ltd acquired a new stake in Kinross Gold during the fourth quarter valued at approximately $2,506,000. International Assets Investment Management LLC acquired a new stake in Kinross Gold during the third quarter valued at approximately $780,000. Geode Capital Management LLC raised its stake in Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after buying an additional 828,456 shares in the last quarter. Finally, Truist Financial Corp raised its stake in Kinross Gold by 48.2% during the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after buying an additional 98,196 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Down 2.9 %

NYSE:KGC opened at $11.11 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a one year low of $5.32 and a one year high of $12.28. The business’s 50-day simple moving average is $10.80 and its 200 day simple moving average is $10.06. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.68 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, sell-side analysts predict that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed 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. This represents a $0.12 annualized dividend and a yield of 1.08%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s payout ratio is currently 15.58%.

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.