| Kinross Gold gets show of support | |
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Kinross Gold has been falling for years, but traders are betting on an end to the bloodletting.
optionMONSTER's tracking systems detected the sale of 5,000 May 2 puts in two prints for $0.36 and $0.41 yesterday. These are new positions, as there was no open interest in the strike before the trades appeared.
The traders collect the premium from the option sales and are looking for KGC to stay above $2 through expiration in mid-May 2016. If the stock falls below that strike price, these put sellers will be on the hook to buy shares at that level. Investors sometimes sell puts this way in hopes of picking up a stock at an effective discount to existing levels. (See our Education section)
KGC dropped 8.93 percent to $2.04 yesterday. The miner has been hammered with the decline in the price of gold but has rebounded 45 percent in the last month.
With yesterday's put sales, overall option volume in the name was more than triple its daily average for the last month.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
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CODE : K.TO |
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ISIN : CA4969024047 |
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CUSIP : 496902404 |
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ProfileMarket
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Asset profileContact Cpy |
Kinross Gold is a gold producing company based in Canada. Kinross Gold produces gold, silver in Brazil, in Canada, in Chile, in Ghana, in Mauritania, in Russia and in USA, develops copper, gold and silver in Chile, and holds various exploration projects in Canada, in Chile and in Russia. Its main assets in production are ROUND MOUNTAIN in USA, CRIXÁS, MORRO DO OURO and PARACATU in Brazil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA and LA COIPA in Chile, PORCUPINE and MUSSELWHITE in Canada, CHIRANO in Ghana, TASIAST in Mauritania and KUPOL in Russia, its main assets in development are KETTLE RIVER, GOLD HILL and CERRO CASALE in Chile and its main exploration properties are AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI and GOLDBANKS - KINROSS in Ghana, FRUTA DEL NORTE in Ecuador, HAMMOND REEF in Canada, KUBAKA MINE - BIRKACHAN in Russia and LOBO-MARTE in Chile. Kinross Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is 624.3 millions as of today (US$ 447.4 millions, € 421.5 millions). Its stock quote reached its lowest recent point on October 27, 2000 at 1.43, and its highest recent level on November 14, 2024 at 13.16. Kinross Gold has 47 442 200 shares outstanding. |