Kinross Gold In Talks to Sell Arctic Russian Mine

KGC carries a more than 11% year-over-year deficit

Digital Content Manager
Mar 31, 2022 at 10:00 AM
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Kinross Gold Corporation (NYSE:KGC) announced plans yesterday to divest its Russian assets, amid Western sanctions against Russia over its invasion of Ukraine. The miner is reportedly in talks with Fortiana Holdings, a company that is registered in Cyprus and owned by Russian businessman Vladislav Sviblov, to sell its Arctic Russian mine. At last check, KGC is down 0.2% at $5.92. 

A ceiling at the $6 level has kept a tight lid on Kinross Gold stock since mid-December. The security yesterday managed to score its first close above the 200-day moving average since November, distancing itself from a Dec. 15, annual low of $4.90. Year-over-year, though, KGC carries an 11.2% deficit. 

A shift in the options pits could pressure the stock even lower. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), KGC' 10-day call/put volume ratio of 18.71 stands higher than 81% of readings from the past year. This means calls have been picked up at a much quicker-than-usual pace.  

It could be a good time to speculate on KGC's next move with options. The stock's Schaeffer's Volatility Index (SVI) of 41% ranks in the 26th percentile of its 12-month range. In other words, options players are pricing in low volatility expectations at the moment. 




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