Can Kinross Gold's Ongoing Projects Power Its Next Phase of Strength?

Kinross Gold Corporation KGC maintains a solid production profile and a robust pipeline of exploration and development projects. These initiatives are poised to enhance output, strengthen cash flow and unlock meaningful value. Major projects and exploration efforts, including Great Bear in Ontario and Round Mountain Phase X in Nevada, continue to advance as planned.  

KGC is making progress with Great Bear’s Advanced Exploration program, having already completed and commissioned the key infrastructure. Detailed engineering for the key infrastructure is also advancing for the Main Project. At Round Mountain Phase X, underground drilling during the third quarter confirmed strong grades in the primary target zones. 

Moreover, drilling at the Curlew basin continued to show high-grade intercepts, supporting high-margin production. At the Lobo-Marte project in Chile, KGC is progressing studies to support the Environmental Impact Assessment and remains committed to advancing this potentially long-life, low-cost mine. 

KGC’s robust portfolio of growth projects is set to shape its next phase of production strength and profitability. Effective execution of these initiatives will pave the way for a new cycle of low-cost, long-life output. The company’s solid financial footing supports disciplined capital allocation, shareholder returns and continued investment in its key development pipeline.

Among its peers, Agnico Eagle Mines Limited AEM is executing growth projects that are expected to provide additional growth in production. Agnico Eagle is making steady progress with its key value drivers and pipeline projects, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas. Agnico Eagle’s strong liquidity position and cash flows allow it to maintain a robust exploration budget and fund a solid pipeline of growth projects.

Barrick Mining Corporation B also remains on track with its slate of high-return growth projects. Barrick’s major gold and copper growth projects, including Goldrush, the Pueblo Viejo plant expansion and mine life extension, Fourmile, Lumwana Super Pit and Reko Diq, are being executed. These projects are advancing on schedule and within budget, laying the groundwork for the next generation of profitable production for Barrick.  

The Zacks Rundown for KGC

Kinross Gold’s shares have shot up 180.9% year to date compared with the Zacks Mining – Gold industry’s rise of 115.1%, largely driven by the gold price rally.

From a valuation standpoint, KGC is currently trading at a forward 12-month earnings multiple of 13.14, a 6.5% premium to the industry average of 12.34X. It carries a Value Score of B.

The Zacks Consensus Estimate for KGC’s 2025 and 2026 earnings implies a year-over-year rise of 139.7% and 23.7%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days.

KGC stock currently carries a Zacks Rank #1 (Strong Buy). 

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This article originally published on Zacks Investment Research (zacks.com).

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