12 Most Promising Gold Stocks According to Hedge Funds

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4. Kinross Gold Corporation (NYSE:KGC

Number of Hedge Fund Investors: 41

Kinross Gold Corporation (NYSE:KGC) is a leading Canadian gold mining company with operations and projects spanning the United States, Brazil, Mauritania, Chile, and Russia. The company is recognized for its responsible mining practices and strong commitment to sustainability.

Kinross Gold Corporation (NYSE:KGC) is advancing several significant projects poised to drive future growth. A standout example is the Great Bear project in Ontario, Canada. The Preliminary Economic Assessment (PEA) published on September 10, estimates an annual production of approximately 500,000 ounces of gold at an impressive all-in sustaining cost of about $800 per ounce during the first eight years. The company is also progressing on the Lobo-Marte project in Chile, which holds the potential to become a long-life, low-cost asset with substantial production. The project is particularly appealing due to its high heap leach grade and low strip ratio, with baseline studies underway to further assess its viability.

Kinross Gold Corporation (NYSE:KGC) is also heavily investing in exploration to expand its resource base and drive future growth. At Round Mountain in the United States, the company is advancing Phase X, which has delivered encouraging results with multiple high-grade intercepts and strong widths. Exploration drilling has extended mineralization into lower areas of the resource, indicating potential for higher-margin mining. Similarly, exploration at the Curlew Basin has identified zones with robust mining widths and strong grades. Additionally, the company has made significant strides in reducing debt, repaying $650 million of a $1 billion term loan in 2024. This effort has considerably strengthened the balance sheet, reducing net debt to EBITDA from 1.7 times to 0.5 times by the end of Q3 2024.

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