Kinross Gold Corporation (NYSE:KGC) (TSE:K) was the target of a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 9,518,904 shares, a drop of 42.4% from the September 15th total of 16,522,341 shares. Based on an average daily volume of 9,297,967 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the shares of the stock are sold short.

Shares of Kinross Gold Corporation (NYSE KGC) opened at 4.25 on Thursday. The stock has a 50 day moving average of $4.44 and a 200 day moving average of $4.14. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 101.19 and a beta of 0.12. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The firm had revenue of $868.60 million during the quarter, compared to analyst estimates of $825.02 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Kinross Gold Corporation’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts predict that Kinross Gold Corporation will post $0.11 earnings per share for the current fiscal year.

Several research firms have commented on KGC. Royal Bank Of Canada set a $5.00 price objective on shares of Kinross Gold Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and set a $3.75 price objective (down previously from $4.00) on shares of Kinross Gold Corporation in a research report on Friday, July 14th. BMO Capital Markets reiterated a “buy” rating and set a $5.25 price objective on shares of Kinross Gold Corporation in a research report on Wednesday, September 20th. BidaskClub lowered shares of Kinross Gold Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Kinross Gold Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.17.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Kinross Gold Corporation by 6.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,764 shares of the mining company’s stock valued at $146,000 after purchasing an additional 2,116 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Kinross Gold Corporation by 63.1% in the second quarter. GSA Capital Partners LLP now owns 37,944 shares of the mining company’s stock valued at $154,000 after purchasing an additional 14,674 shares during the period. IFP Advisors Inc grew its holdings in shares of Kinross Gold Corporation by 22.0% in the second quarter. IFP Advisors Inc now owns 38,769 shares of the mining company’s stock valued at $158,000 after purchasing an additional 7,000 shares during the period. Gotham Asset Management LLC grew its holdings in shares of Kinross Gold Corporation by 53.2% in the second quarter. Gotham Asset Management LLC now owns 41,487 shares of the mining company’s stock valued at $169,000 after purchasing an additional 14,398 shares during the period. Finally, Creative Planning grew its holdings in shares of Kinross Gold Corporation by 14.2% in the second quarter. Creative Planning now owns 44,435 shares of the mining company’s stock valued at $181,000 after purchasing an additional 5,514 shares during the period. 59.55% of the stock is owned by hedge funds and other institutional investors.

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Kinross Gold Corporation 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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