10 Best Canadian Stocks to Buy Under $10

1. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Funds Holders: 41

Share Price as of November 27: $9.80

Kinross Gold Corporation (NYSE:KGC) is one of the largest gold mining companies based out of Canada. The company has operations across the Americas, West Africa, and Russia. Kinross focuses on high-quality, low-cost gold development projects including the Great Bear project in Ontario, the Manh Choh project in Alaska, and the Lobo-Marte project in Chile, all driving its future growth and expansion.

In Q3, the company increased its operating margins by 14% compared to Q2. This helped the company with a record quarterly free cash flow of $415 million. The increase in cash flows has allowed the company to repay its debt, repaying $650 million out of the $1 billion term loan. Kinross Gold Corporation’s (NYSE:KGC) focus on cost-effective and high-quality gold production allows the company to generate strong cash flows.

In addition to the company’s strong quarterly performance, on November 19, Kinross Gold Corporation (NYSE:KGC) announced that it has further increased the size of its flagship White Gold project in west-central Yukon, Canada. The company’s latest update on the asset will have a significant increase in total gold ounces, including an 18.5% rise in inferred resources and a 4.3% increase in indicated resources. The indicated resource category will now comprise 1.2 million ounces of gold, while the inferred resource category will account for 1.11 million ounces of gold.

While we acknowledge the potential of Kinross Gold Corporation (NYSE:KGC) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KGC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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