5 Best Gold Stocks to Buy for Inflation

4. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 31     

Kinross Gold Corporation (NYSE:KGC) acquires, explores, develops gold properties. On April 5, the company announced that it had agreed to sell all of its Russian assets to mining firm Highland Gold Mining in a deal worth $680 million. The latter is one of the largest gold mining firms in Russia. The deal is reportedly the first complete sale of the assets of a Western firm in Russia since the start of the Ukraine war. The shares of the firm had fallen in the wake of the war but have risen since it announced the sale of the assets. 

On March 9, BMO Capital Jefferies analyst Christopher LaFemina kept a Hold rating on Kinross Gold Corporation (NYSE:KGC) stock and raised the price target to $6 from $5.5, predicting that greater geopolitical risk will delay a supply response to high prices in the metals sector in the coming months. 

At the end of the fourth quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $365 million in Kinross Gold Corporation (NYSE:KGC), up from 27 in the previous quarter worth $321 million.