Kinross Gold Corporation (KGC): Price Target and June Short Interest Disclosure

Kinross Gold Corporation (KGC) : 12 Wall Street analysts covering Kinross Gold Corporation (KGC) believe that the average level the stock could reach for the short term is $4.89. The maximum price target given is $8 and the minimum target for short term is around $3, hence the standard deviation is calculated at $1.54.

Kinross Gold Corporation (KGC) has seen a shortfall of 6,488,144 shares or 23% in the short interest. The remaining shorts are 1.7% of the total floated shares. The net short interest, as on June 30,2016, stood at 21,738,834 shares and the stocks days to cover will be 1 by factoring in the average per day volume of 18,782,780 shares. On June 15,2016, 28,226,978 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Deutsche Bank upgrades the rating on Kinross Gold Corporation (NYSE:KGC). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Sell. The Analysts at the ratings agency raises the price target from $3.1 per share to $4.5 per share. The rating by the firm was issued on July 6, 2016.


Kinross Gold Corporation (NYSE:KGC): The stock was completely flat for the day, closing at $5.40 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $5.30, the stock touched an intraday high of $5.48 and a low of $5.25. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $5.40. The total trading volume on Thursday was 10,475,755.

Kinross Gold Corporation is a senior 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 Companys segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano. Its gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania. Its gold is produced in the form of dore, which is shipped to refineries for final processing. It also produces and sells silver.

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