6 Most Profitable Gold Stocks To Buy Now

2. Kinross Gold Corporation (NYSE:KGC) 

Number of Hedge Fund Investors: 41

5-Year Net Income CAGR: 34.25%

TTM Net Income: $738.6 Million

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

Kinross Gold Corporation (NYSE:KGC) is actively developing several key projects that are expected to drive future growth. The Great Bear project in Ontario, Canada, is a prime example. The Preliminary Economic Assessment (PEA) released in September 2024 outlined annual production of approximately 500,000 ounces of gold with an impressive all-in-sustaining cost of around $800 per ounce. Additionally, the company is making progress on the Lobo-Marte project in Chile, which has the potential to become a long-life, low-cost asset with meaningful production. The project’s high heap leach grade and low strip ratio are particularly attractive, and Kinross Gold Corporation (NYSE:KGC) is advancing baseline studies to further evaluate its potential.

Kinross Gold Corporation (NYSE:KGC) is also heavily focused on exploration to expand its resource base and support future 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 strong widths. The exploration drilling has expanded mineralization in the lower areas of the resource and indicates potential for higher-margin mining. Similarly, at the Curlew Basin, exploration drilling has highlighted areas with good mining widths and strong grades. Furthermore, Kinross Gold Corporation (NYSE:KGC) has been proactive in reducing its debt, repaying $650 million out of a $1 billion term loan in 2024. This debt reduction has significantly strengthened the company’s balance sheet, with net debt to EBITDA decreasing from 1.7 times to 0.5 times as of the end of Q3 2024.