Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 50,590,000 shares, a decline of 11.9% from the November 15th total of 57,430,000 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average trading volume of 18,430,000 shares, the days-to-cover ratio is presently 2.7 days.
Analyst Ratings Changes
KGC has been the subject of a number of analyst reports. National Bank Financial cut their price target on Kinross Gold from C$9.25 to C$8.25 in a report on Monday, November 14th. Royal Bank of Canada lowered their price objective on Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 6th. TD Securities lowered their price objective on Kinross Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, November 11th. Stifel Nicolaus lowered their price objective on Kinross Gold from C$10.00 to C$9.00 in a research report on Wednesday, November 23rd. Finally, Raymond James downgraded Kinross Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 23rd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.70.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Venture Visionary Partners LLC acquired a new position in shares of Kinross Gold in the second quarter worth about $29,000. Anson Funds Management LP acquired a new stake in Kinross Gold during the first quarter valued at approximately $31,000. Patriot Financial Group Insurance Agency LLC raised its stake in Kinross Gold by 66.7% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 10,000 shares of the mining company’s stock valued at $36,000 after buying an additional 4,000 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in Kinross Gold during the second quarter valued at approximately $38,000. Finally, Ieq Capital LLC acquired a new stake in Kinross Gold during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 55.00% of the company’s stock.
Kinross Gold Stock Up 0.5 %
Shares of NYSE KGC traded up $0.02 on Friday, hitting $4.09. The company had a trading volume of 23,270,354 shares, compared to its average volume of 19,865,641. Kinross Gold has a 12-month low of $3.00 and a 12-month high of $6.34. The business has a 50 day moving average of $3.93 and a two-hundred day moving average of $3.73. The company has a quick ratio of 1.28, a current ratio of 2.98 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.14 billion, a P/E ratio of -10.49 and a beta of 0.85.
Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last released its quarterly earnings results on Wednesday, November 9th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Kinross Gold had a positive return on equity of 4.34% and a negative net margin of 15.09%. The business had revenue of $856.50 million during the quarter. As a group, equities research analysts forecast that Kinross Gold will post 0.22 earnings per share for the current fiscal year.
Kinross Gold Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Wednesday, November 30th. Kinross Gold’s dividend payout ratio (DPR) is -30.77%.
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, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.