Kinross Gold Corp. (KGC) Short Interest Update
Kinross Gold Corp. (NYSE:KGC) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 10,464,883 shares, a drop of 32.7% from the September 15th total of 15,548,596 shares. Based on an average daily trading volume, of 14,330,845 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.8% of the company’s shares are sold short.
Shares of Kinross Gold Corp. (NYSE:KGC) opened at 3.66 on Tuesday. Kinross Gold Corp. has a 52 week low of $1.31 and a 52 week high of $5.82. The stock’s market cap is $4.56 billion. The firm has a 50-day moving average of $4.07 and a 200 day moving average of $4.71.
Kinross Gold Corp. (NYSE:KGC) last issued its earnings results on Wednesday, July 27th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Kinross Gold Corp. had a negative return on equity of 2.35% and a negative net margin of 29.41%. The business had revenue of $876.40 million for the quarter, compared to analysts’ expectations of $841.98 million. During the same period last year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Kinross Gold Corp. will post $0.11 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on KGC. Vetr raised Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $5.70 price objective on the stock in a research note on Wednesday, July 13th. Deutsche Bank AG raised Kinross Gold Corp. from a “sell” rating to a “hold” rating and raised their price objective for the company from $3.10 to $4.50 in a research note on Wednesday, July 6th. Credit Suisse Group AG reissued a “hold” rating on shares of Kinross Gold Corp. in a research note on Wednesday, June 29th. Zacks Investment Research raised Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Monday, August 29th. Finally, Berenberg Bank began coverage on Kinross Gold Corp. in a research note on Wednesday, September 7th. They issued a “hold” rating and a $4.60 target price on the stock. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Kinross Gold Corp. has a consensus rating of “Buy” and an average target price of $5.43.
Hedge funds and other institutional investors have recently modified their holdings of the company. Concert Wealth Management Inc. boosted its position in shares of Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock valued at $106,000 after buying an additional 1,675 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Kinross Gold Corp. during the second quarter valued at about $169,000. Bayesian Capital Management LP acquired a new position in shares of Kinross Gold Corp. during the first quarter valued at about $121,000. IFP Advisors Inc boosted its position in shares of Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Kinross Gold Corp. during the second quarter valued at about $216,000. 62.06% of the stock is owned by hedge funds and other institutional investors.
Kinross Gold Corp. Company Profile
Kinross Gold Corporation is 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. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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