10 Best Canadian Gold Stocks to Buy Now

3. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 37

Kinross Gold Corporation (NYSE:KGC) is a Canadian mining company with a focus on gold acquisition, exploration, and development, as well as producing silver and managing mine reclamation. Its operations span sites such as Brazil’s Paracatu and Alaska’s Fort Knox, with new ventures including Alaska’s Manh Choh project.

Despite facing rising costs, Kinross Gold Corporation (NYSE:KGC) delivered impressive results in Q4 ended December 31, 2024. The company produced 501,209 ounces of gold, reaching a yearly total of 2.13 million ounces. This success stemmed from better mill output and higher grades at the Tasiast and Paracatu mines, which helped counter inflationary pressures.

Kinross Gold Corporation (NYSE:KGC) saw improved financial performance due to robust production with higher gold prices. This boosted Q4 operating cash flow to $734.5 million, with annual figures reaching $2.44 billion. The company achieved a record free cash flow of $1.34 billion, more than double the prior year. This allowed the company to cut net debt by roughly $1.4 billion over two years, strengthening its finances despite challenges.

Kinross Gold Corporation (NYSE:KGC) also enhanced its portfolio with the Great Bear project, reaching a key milestone through its Preliminary Economic Assessment. This study projected an annual production of 500,000 ounces at a total cost of $800 per ounce, confirming its Tier One potential. Moreover, the company completed over 15 energy efficiency projects and earned a Sustainability Award from the Canadian Council for the Americas.

For 2025, Kinross Gold Corporation (NYSE:KGC) projects 2 million ounces of production with the cost of sales guidance at $1,120 per ounce. The company’s stock surged 103.10% over one year, far outpacing the industry’s 46.85% average, thanks to strong free cash flow and significant debt reduction.