#3 - Kinross Gold (NYSE:KGC)
With a $13.2 billion market cap, Kinross Gold Corp. (NYSE: KGC) is just barely considered a large-cap mining stock. However, the Canadian-based company has been one of the best-performing gold mining stocks in 2024, with stock price growth of approximately 77%.
This is an extension of the company’s performance in 2023 when it delivered record production and leading margins at its three key products. The company has strengthened its balance sheet by paying down debt. This is increasing the company’s cash flow which it can devote to new opportunities to fuel even more growth, including its expansion into West Africa, in the coming years.
The Kinross Gold analyst forecasts on MarketBeat show a consensus price target of $9.50 which suggests the stock could be overvalued. However, on October 24, 2024, Jefferies Financial Group raised its price target from $10 to $11. And with the company reporting earnings in early November, analysts may start to bid the stock higher.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.
Read More - Current Price
- $10.53
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.50 (9.8% Downside)
