10 Best Low Priced Stocks to Invest in Now

1. Kinross Gold Corporation (NYSE:KGC) 

Number of Hedge Fund Investors: 41

Stock Price as of December 24: $9.43

Kinross Gold Corporation (NYSE:KGC) is a prominent Canadian gold mining company with operations and projects across the United States, Brazil, Mauritania, Chile, and Russia. The company is well-regarded for its responsible mining practices and strong dedication to sustainability.

Kinross Gold Corporation (NYSE:KGC) is also heavily focused on exploration to expand its resource base and support long-term growth. At Round Mountain in the United States, the company is advancing Phase X, which has shown promising results with multiple high-grade intercepts and substantial widths. Exploration drilling has successfully extended mineralization into deeper areas of the resource, suggesting potential for higher-margin mining operations. Similarly, exploration efforts at the Curlew Basin have identified zones with significant mining widths and strong grades.

Kinross Gold Corporation (NYSE:KGC) is advancing several key projects that are set to drive future growth. A notable example is the Great Bear project in Ontario, Canada. According to the Preliminary Economic Assessment (PEA) released on September 10, the project is expected to produce approximately 500,000 ounces of gold annually at an impressive all-in-sustaining cost of around $800 per ounce during the first eight years. The company is also making progress on the Lobo-Marte project in Chile, which has the potential to become a long-life, low-cost asset with significant production capacity. This project stands out for its high heap leach grade and low strip ratio, with baseline studies currently underway to further evaluate its feasibility.

Furthermore, the company has made meaningful progress in reducing debt, repaying $650 million of a $1 billion term loan in 2024. This initiative has significantly strengthened the balance sheet, lowering the net debt to EBITDA ratio from 1.7 times to 0.5 times by the end of Q3 2024.

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 timeframe. 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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