Short Interest in Kinross Gold Co. (NYSE:KGC) Decreases By 17.0%

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 10,480,000 shares, a decrease of 17.0% from the March 31st total of 12,620,000 shares. Approximately 0.9% of the company's stock are short sold. Based on an average daily volume of 22,110,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Kinross Gold by 62.2% in the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the period. Norges Bank acquired a new position in shares of Kinross Gold during the fourth quarter valued at $280,697,000. Man Group plc increased its holdings in shares of Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after purchasing an additional 5,871,904 shares during the period. First Eagle Investment Management LLC lifted its holdings in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock worth $116,898,000 after purchasing an additional 5,639,383 shares during the period. Finally, Artemis Investment Management LLP grew its position in Kinross Gold by 365.8% in the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after buying an additional 5,400,447 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $14.21 on Friday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $12.70 and a 200 day simple moving average of $11.13. Kinross Gold has a fifty-two week low of $6.44 and a fifty-two week high of $15.46. The company has a market cap of $17.48 billion, a PE ratio of 18.45, a P/E/G ratio of 0.68 and a beta of 1.12.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share 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%. On average, sell-side analysts anticipate that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Wednesday, March 5th. Kinross Gold's payout ratio is 15.58%.

Analysts Set New Price Targets

KGC has been the topic of several analyst reports. Raymond James lifted their price objective on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th. CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Scotiabank reiterated an "outperform" rating on shares of Kinross Gold in a research note on Monday, April 14th. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets began coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $13.30.

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.

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