Kinross Gold Corporation (NYSE:KGC) Short Interest Update

The company has trimmed its forecasts for all-in sustaining cost (AISC), cost of sales per gold equivalent ounce and capital expenditure for the year.

Adjusted operating cash flow: $206.6 million, or $0.18 per share, compared with $324.1 million, or $0.28 per share, in Q3 2014.

Gold miner Kinross Gold CorporationKGC reported a net loss of $52.7 million (or 5 cents per share) for the third quarter of 2015, much wider than net loss of $4.3 million (or breakeven per share) in the year-ago quarter. The Firm also stated that adjusted net income for the third quarter 2015 was $226 million, or $0.49 per diluted share, compared with $203 million, or $0.44 per diluted share, for the same period past year. The company has the total of 1.15 billion outstanding shares right now, while its market capitalization is about $2.11 billion. (NYSE:HTZ) traded at $16.37 by plunging -0.43% with price volatility of 5.77% for a week and 4.19% for a month. Company reported revenue of $809.40M. A second phase would boost capacity to 38,000 tonnes a day.

Kinross Gold Corporation(NYSE:KGC) announced the earnings results for Fiscal Year 2015 and Q3.

As part of its cost reduction efforts, Kinross cut corporate headcount costs by 23% during the third quarter. Gold prices remain near five-year lows at about US$1,090 an ounce, but Kinross thinks the smaller Phase One expansion to 12,000 tonnes would make Tasiast profitable even today. The sections of the Company’s comprise Fort Knox, Round Mountain, Kettle River- Tasiast, Kupol, Paracatu, Maricunga, Buckhorn and Chirano. Kinross expects combined annual savings of roughly $30 million from these actions.

“It is with these three priorities in mind that we continue to explore financially prudent alternatives to realizing Tasiast’s significant growth potential”. Around 2% of the company’s shares, which are float, are short sold.

(3) Net earnings/loss figures in this release represent “net earnings (loss) from continuing operations attributable to common shareholders”. Weight Watchers sees FY2015 EPS of $0.64-$0.74, versus the consensus of $0.67. The outlook for cost of sales per gold equivalent ounce was cut to $690-$730 from $720-$780. The Firm is engaged in gold mining and relevant activities, including acquisition and investigation of gold-bearing the extraction, properties and processing of gold-containing ore, and reclamation of gold mining properties. A feasibility study of the expansion is expected to complete in first-quarter 2016. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

Turning to Canada-based stocks trading in the United States, Kinross Gold Corporation (USA)(NYSE:KGC) is trading at $1.80, up 1.98 percent from 52-week low of $1.35.