We recently published a list of 10 Best Performing Large Cap Stocks to Buy According to Analysts. In this article, we are going to take a look at where Kinross Gold Corporation (NYSE:KGC) stands against other best performing large cap stocks to buy according to analysts.
Q4 2024 Market Performance Overview
On January 6, Pathstone released its quarterly Flash Report for Q4 2024. The report highlighted several key trends and challenges for the financial markets. It highlighted that despite some volatility towards the end of the quarter in December, the US equity market continued to outperform the international markets, particularly led by the large-cap stocks. Large-cap stocks gained 7.1% during the fourth quarter, driven by strong economic fundamentals, including robust labor market data and high consumer spending during the holiday season. On the other hand, the continued strength of the USD and the persistent inflation led to a decline in other developed markets internationally.
In comparison to the large-cap stocks, small-caps faced significant challenges, experiencing a sharp monthly decline of 8.3% in December, though the sector managed a slight quarterly gain of 0.3%. As per the report, this underperformance was partly due to policy uncertainty and rising long-term yields, which dampened expectations for smaller companies. The fixed-income market also struggled, with long-term Treasury bonds declining by 9.7% for the quarter as the 10-year Treasury yield increased to 4.6%. Moreover, while elaborating on the labor market quarterly performance, the report highlighted that the US labor market demonstrated resilience in November, with nonfarm payrolls increasing by 227,000 jobs, surpassing expectations of 200,000. This growth marked a significant recovery from October’s numbers, which were affected by hurricanes and strikes. Although the unemployment rate increased to 4.2%, the labor market showed fundamental strength despite higher interest rates.
One of the key market trends that have helped large-cap growth stocks is the strength of the American consumer market. Consumer spending was exceptionally strong during the holiday season, breaking previous records across both traditional retail and online channels. However, regardless Inflation remains a significant concern as the Consumer Price Index reached 2.7% in November, above the Federal Reserve’s 2% target. Persistent inflationary pressures are influencing the Fed’s monetary policy approach, leading to a more cautious stance on future rate cuts. Lastly, the report highlights that the economic landscape ahead presents a complex mix of resilience and risk. While the labor market and spending provide a solid foundation to the market persistent inflation, higher interest rates, and policy uncertainty pose potential challenges.
Our Methodology
To curate the list of 10 best-performing large-cap stocks to buy according to analysts, we used the Finviz stock screener to get an aggregated list of stocks. Using the screener we aggregated a list of large-cap stocks that have performed positively over the past year and analysts still see upside potential over the next 12 months. Next, we cross-checked the performance and analyst upside potential of each stock from CNN and ranked these stocks in ascending order of analysts’ upside potential. We have also added the number of hedge funds holding each stock, sourced from Insider Monkey’s Q4 2024 database. Please note that the data was collected on February 28th, 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Aerial shot of a mine entrance, the bedrock of the company’s gold and silver extraction.
Kinross Gold Corporation (NYSE:KGC)
1-Year Performance: 124.80%
Number of Hedge Fund Holders: 39
Analyst Upside Potential: 21.64%
Kinross Gold Corporation (NYSE:KGC) is another Canadian company that engages in gold mining. It explores, extracts, and processes gold from various locations around the world, including the United States, Brazil, Mauritania, Chile, and Canada. The company operates several mines, including Fort Knox in Alaska and Paracatu in Brazil, and is involved in developing new projects like Manh Choh in Alaska.
On February 13, Lawson Winder from Bank of America Securities maintained a Buy rating on the stock with a price target of $12.75. Winder mentioned that he likes the stable gold production of the company and also believes in the potential for increased capital returns. The analyst noted that Kinross Gold Corporation (NYSE:KGC) has maintained a stable production guidance of 2 million gold equivalent ounces annually from 2025 to 2027. This stability has overshadowed the concerns of potential acquisitions. Winder also likes the Great Bear project and believes it presents a long-term opportunity for the company.
During the fiscal fourth quarter of 2024, Kinross Gold Corporation (NYSE:KGC) successfully repaid $800 million in debt and also achieved a record free cash flow of more than $1.3 billion. It generated 2.13 million gold equivalent ounces during the year and achieved a net profitability of $948.8 million, making it one of the best-performing large-cap stocks to buy according to analysts.
Overall, KGC ranks 3rd on our list of best performing large cap stocks to buy according to analysts. While we acknowledge the potential of 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 time frame. 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.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
