Kinross Gold Co. (NYSE:KGC) Short Interest Up 24.7% in October

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 10,770,000 shares, an increase of 24.7% from the September 30th total of 8,640,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 15,290,000 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new position in Kinross Gold during the 2nd quarter worth $40,000. Advisor Resource Council purchased a new position in shares of Kinross Gold in the 1st quarter valued at approximately $60,000. Bright Futures Wealth Management LLC. acquired a new position in shares of Kinross Gold in the first quarter valued at approximately $70,000. Fifth Third Bancorp raised its stake in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock worth $80,000 after purchasing an additional 9,375 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company's stock valued at $94,000 after buying an additional 6,011 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Down 2.1 %

Shares of KGC traded down $0.22 during midday trading on Wednesday, reaching $10.48. The stock had a trading volume of 18,039,367 shares, compared to its average volume of 15,239,942. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The company's fifty day simple moving average is $9.56 and its two-hundred day simple moving average is $8.53. The company has a market cap of $12.88 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 0.55 and a beta of 1.24. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. Equities research analysts expect that Kinross Gold will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com lowered Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, September 25th. CIBC lifted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Kinross Gold Company Profile

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.