11 Best Gold Stocks for Inflation

4. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 37

Dividend Yield: 1.01%

Kinross Gold Corporation (NYSE:KGC), operates in North and South America, as well as West Africa, and is engaged in the mining of gold and silver. Major assets under the company’s belt are the Tasiast, Fort Knox, and Round Mountain mines, along with the growing White Gold project in Canada.

During the third quarter ended September 30, 2024, Kinross Gold Corporation (NYSE:KGC) produced 564,106 gold equivalent ounces at a cost of $976 per ounce. This was accompanied by an impressive free cash flow of $415 million, which was a threefold increase from Q3 2023. The margin per ounce also increased by 47% YoY due to strong cost efficiency and operational execution. The company’s revenue growth remained solid at 30% YoY due to higher realized gold prices.

The company’s financial health also appears favorable to investors, as it reduced its net debt by $1.8 billion over the last 18 months. As a result, its net debt to EBITDA fell from 1.7x to 0.5x times as of Q3 2024. In addition to improving its leverage, the company was successfully able to pay $36.9 million in dividends during the quarter. The company also declared a quarterly dividend of $0.03 per share, which was paid in December 2024.

Therefore, with increasing margins, a strong cash position, a healthy asset pipeline, and a promising growth outlook, Kinross Gold Corporation (NYSE:KGC) stands out as one of the Best Gold Stocks For Inflation, as its stock price has already appreciated by over 29% on a YTD basis.