10 Undervalued Canadian Stocks to Buy Now

4. Kinross Gold Corporation (NYSE:KGC)

Forward P/E as of April 4: ~14.3x

Number of Hedge Fund Holders: 39

Headquartered in Toronto, Canada, Kinross Gold Corporation (NYSE:KGC) is engaged in the acquisition, exploration, and development of gold properties. Raymond James has kept a “Market Perform” rating on the company’s shares. The firm increased its gold and silver price estimates over the near and long term to exhibit healthy YTD performance, sector demand at higher than historical levels as well as continued political uncertainty. Kinross Gold Corporation (NYSE:KGC) delivered a record FCF of $1.3 billion, which more than doubled YoY, repaid $800 million of debt, and increased its margins by 37%, significantly surpassing the rise in gold price.

Kinross Gold Corporation (NYSE:KGC) is forecasting another strong year of production of ~2.0 million gold equivalent ounces while, at the same time, maintaining its consistent operational performance. The company’s operational focus in 2025 is expected to be on cost control, capital discipline, and delivering on planned grades. Kinross Gold Corporation (NYSE:KGC)’s Tasiast mine saw an excellent year in 2024, achieving record annual production and cash flow. The annual production was mainly because of record throughput after the completion of the Tasiast 24k project in H2 2023. Quarter-over-quarter, the production was lower because of planned lower grades and mill maintenance. However, this was partially offset by improvements in recovery.