Kinross Gold Co. (KGC) Short Interest Update
Kinross Gold Co. (NYSE:KGC) (TSE:K) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 23,755,346 shares, a growth of 31.7% from the April 28th total of 18,034,716 shares. Based on an average daily trading volume, of 14,861,251 shares, the short-interest ratio is currently 1.6 days. Approximately 1.9% of the company’s stock are short sold.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Kinross Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Jefferies Group LLC lifted their price target on shares of Kinross Gold from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Scotiabank set a $4.00 price target on shares of Kinross Gold and gave the stock a “sector perform” rating in a research note on Thursday, May 4th. Deutsche Bank AG dropped their price target on shares of Kinross Gold from $4.00 to $3.80 and set a “hold” rating on the stock in a research note on Tuesday, March 21st. Finally, Bank of America Corp raised shares of Kinross Gold from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $4.68.
A number of hedge funds have recently modified their holdings of KGC. Creative Planning increased its stake in shares of Kinross Gold by 42.7% in the first quarter. Creative Planning now owns 38,921 shares of the mining company’s stock worth $137,000 after buying an additional 11,643 shares during the period. Sciencast Management LP bought a new stake in shares of Kinross Gold during the fourth quarter worth $162,000. Karp Capital Management Corp bought a new stake in shares of Kinross Gold during the first quarter worth $235,000. ING Groep NV bought a new stake in shares of Kinross Gold during the fourth quarter worth $227,000. Finally, Korea Investment CORP bought a new stake in shares of Kinross Gold during the first quarter worth $271,000. 60.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Kinross Gold (NYSE:KGC) opened at 4.22 on Monday. Kinross Gold has a 12 month low of $2.88 and a 12 month high of $5.81. The company’s market cap is $5.26 billion. The company’s 50 day moving average is $3.85 and its 200-day moving average is $3.58.
Kinross Gold (NYSE:KGC) last issued its quarterly earnings results on Tuesday, May 2nd. The mining company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Kinross Gold had a negative net margin of 26.82% and a positive return on equity of 1.23%. The firm had revenue of $796.10 million during the quarter, compared to the consensus estimate of $790.06 million. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Kinross Gold will post $0.06 EPS for the current fiscal year.
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Kinross Gold Company Profile
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.
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