11 Best Gold Mining Companies to Invest in Right Now

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4. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 41

Kinross Gold Corporation (NYSE:KGC) is one of Canada’s leading gold mining companies. Its operations cover the Americas, West Africa, and Russia, and include gold mining, property exploration, and acquisition, as well as ore extraction and processing.

The third quarter of 2024 proved to be an exceptional one for Kinross Gold Corporation (NYSE:KGC). The company generated a record $415 million in free cash flow, a 20% increase from the previous quarter, and produced 564,000 ounces of gold at a cost of less than $1,000 per ounce. In addition, Kinross Gold Corporation (NYSE:KGC) paid back $650 million of its $1 billion term loan, with more repayments scheduled. With an estimated CapEx of $1.05 billion for 2024, the company expects to produce 2 million ounces in 2025, a slight decrease from 2.1 million ounces the year before.

On January 27, BofA upgraded Kinross Gold Corporation (NYSE:KGC) from Underperform to Buy with a price objective of $12.75, up from $9.25. Lawson Winder, one of the BofA analysts, has dramatically raised his projections for 2026 profits per share and output to 2 million gold equivalent ounces, citing Kinross Gold’s strong position entering Q4 2024 results with possible catalysts in 2025. According to Winder, the company seems to be disciplined on this front, despite market fears that Kinross would participate in a corporate acquisition. He also sees the possibility of the company increasing capital returns in 2025 through a stock repurchase.

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