Kinross Gold Stock Rallies 81% in 6 Months: What's Behind the Upside?

Kinross Gold Corporation KGC shares have gained 81.7% over the past six months. The company has also outperformed the Zacks Mining-Gold industry’s 63.6% growth and the S&P 500’s 14.3% increase over the same period.

KGC to Gain on Rise in Gold Prices

Kinross is among the gold mining companies that are benefiting from the surge in gold prices seen in 2025. This momentum is also expected to continue in the following year as the macro environment behind the rally is still dominant.

The U.S.-China trade war escalated unpredictability in trade policies this year. The Central Banks began aggressively increasing its gold reserves. Combined with other geopolitical risks, gold has reached unprecedented highs this year. The momentum in gold is expected to favorably push Kinross higher.

KGC’s Tasiast 24K Expansion and Performance

Tasiast is Kinross’ world-class gold deposit that enables it to attain growth targets. The commencement of its operations since 2023 has resulted in a production boost, significant cash flow and reduced costs. It achieved record production and cash flow in 2024. The mill throughput has increased to 24,000 tons per day. Tasiast remains Kinross’ lowest-cost and most important asset, delivering consistently strong performance.

The mine achieved record production and cash flow in 2024 and is on track to meet its full-year 2025 guidance, making it a key driver of the company’s cash flow and output. KGC also completed the commissioning of its Manh Choh project and commenced production during the third quarter of 2024, leading to a substantial increase in cash flow at the Fort Knox operation. The successful execution of these projects will position the company for a new wave of low-cost, long-life production. 

Kinross Gold Corporation Price, Consensus and EPS Surprise

Kinross Gold Corporation price-consensus-eps-surprise-chart | Kinross Gold Corporation Quote

KGC’s Zacks Rank & Key Picks

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

Some better-ranked stocks in the Basic Materials space are Agnico Eagle Mines AEM, Fortuna Mining Corp. FSM and Equinox Gold Corp. EQX.

At present, AEM sports a Zacks Rank #1, while FSM and EQX carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for AEM’s current-year earnings is pegged at $2.01 per share, indicating a rise of 59.52%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 11.63%. KGC’s shares have gained 119.1% over the past year.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings is pinned at 76 cents per share, indicating a 65.22% year-over-year increase. Its shares have surged 131.5% over the past year.

The Zacks Consensus Estimate for EQX’s current-year earnings stands at 54 cents per share, implying a 170% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average earnings surprise of 87%.

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

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