Jefferies Upgrades Kinross Gold (KGC) to Buy, Raises PT

Kinross Gold Corporation (NYSE:KGC) is one of the 10 Best Gold Stocks To Buy Right Now. On June 26, Jefferies upgraded Kinross Gold Corporation (NYSE:KGC) from a “Hold” rating to a “Buy” rating and also raised the price target from $14 to $18.

The main reason for this upgrade is the company’s strong projected free cash flow yield for 2025 and 2026. Jefferies pointed out that this distinguishes Kinross Gold Corporation (NYSE:KGC) from other major gold producers and also allows for increased share buybacks.

Jefferies believes the company can repurchase around 11% of its market value during 2025 and 2026. This shows that Kinross Gold Corporation (NYSE:KGC) has a strong financial position and is focused on returning value to shareholders.

The research firm also highlighted Kinross Gold Corporation’s (NYSE:KGC) strong production outlook. The company aims to produce about 2 million ounces of gold in 2026. Jefferies believes this is a clear and achievable target.

Additionally, the firm mentioned the potential for resource growth at Kinross Gold Corporation’s (NYSE:KGC) Great Bear project. This further supports the bullish stance.

Kinross Gold Corporation (NYSE:KGC) is a senior gold mining company with operations and projects in the US, Brazil, Mauritania, Chile and Canada.

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