Finance

Dissecting the Insider Trading Patterns of Kinross Gold Corporation (KGC)

Recent insider trends for Kinross Gold Corporation (NYSE:KGC) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how KGC might perform in the future.

Institutions own 56.83% of Kinross Gold Corporation (KGC)’s shares. The total value of these holdings, in millions, is $2,749. Among active positions in the latest quarter, 113 holders increased their positions by a total of 62.59 million shares, 100 holders decreased the positions by a total of 109.88 million shares, and 56 holders held their positions. This works out to a net decrease in ownership of 47.29 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 28 holders initiated new positions by a total of 8.06 million shares and 25 holders exited their positions by a total of 23.82 million shares. This nets out to a decrease of 15.75 million shares and is another bearish sign for KGC.

Insider ownership increased by a total of 0 shares, which suggests that KGC’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.



Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Kinross Gold Corporation (NYSE:KGC)’s short interest is 8.07 million shares, or 0.65% of the float. This represents a decrease of -3% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.

Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that KGC is a Strong sell, which implies that KGC is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Kinross Gold Corporation (NYSE:KGC) is overvalued.

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