Canaccord Raised the Firm's PT on Kinross Gold Corporation (KGC), Maintained a Buy Rating

Kinross Gold Corporation (NYSE:KGC) is one of the Best Performing Canadian Stocks So Far in 2025. On August 7, Canaccord raised the firm’s price target on Kinross Gold Corporation (NYSE:KGC) from $28 to $29.50, while keeping a Buy rating on the stock.

The increased price target for the company comes after it announced its second-quarter results on July 30. The company delivered $1.73 billion in revenue, up 41.74% year-over-year and ahead of expectations by $167.1 million. The EPS of $0.44 also came in ahead of expectations by $0.10. This was driven by production of 512,574 gold equivalent ounces, which was produced at a cost of $1,080 per ounce sold.

As a result of improved operational efficiency, the company reached a record free cash flow of $646.6 million. Moreover, margins also improved 68% compared to Q2 2024, outpacing gold price increases. Management noted that the company remains on track to meet its full-year guidance, expecting to produce 2 million gold equivalent ounces.

Kinross Gold Corporation (NYSE:KGC) is a global gold mining company involved in exploring, extracting, and processing gold from various mining sites.

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Disclosure: None. This article is originally published at Insider Monkey.