We recently compiled a list of the 12 Best Gold Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where Kinross Gold Corporation (NYSE:KGC) stands against the other gold stocks.
Within the global metals industry, the gold sector is essential because it offers long-term investors a profitable opportunity as well as a store of value in times of crisis. Gold continues to be one of the most sought-after precious metals in the world due to its historical use as a haven during times of inflation and geopolitical unrest, as well as its growing use in cutting-edge technologies.
According to Reuters, gold prices have risen to all-time highs as of March 2025, with spot prices hitting $2,936.38 per ounce and U.S. gold futures topping $2,956.10. Record central bank purchases, growing fears about inflation, and changing global monetary policies have all contributed to the surge, which has made gold a key asset class in an uncertain environment. Demand for gold as a safe haven has increased as a result of increased investor uncertainty brought on by the ongoing trade war between the United States and China, which has resulted in supply chain disruptions and retaliatory tariffs.
Gold produced a 43.83% return in 2024, significantly above the 20.89% gain of the whole market. Supported by over-the-counter investments and strategic central bank hoarding, especially in emerging nations like China and India, the total demand for gold hit a record high of 4,974 metric tons. For the third year in a row, central bank purchases topped 1,000 metric tons, according to the World Gold Council. Gold’s appeal is strengthened by this accumulation, which is a part of a larger trend of diversification away from the U.S. currency. The premium that investors are willing to pay in the current inflationary environment is reflected in the 9% increase in overall expenditure on gold jewelry, despite an 11% drop in demand for jewelry due to high costs.
Strong demand for investments further supports the market’s momentum. Demand for actual bars and coins remained stable at 1,186 metric tons, while ETFs saw no significant withdrawals for the first time since 2020. Due to gold’s use in semiconductor and artificial intelligence applications, technology use also increased by 7%. As gold moved from Asian markets like Dubai and Hong Kong to the U.S. due to favorable futures premiums and expected import duties, arbitrage opportunities drove an 80% increase in U.S. Comex inventories since late 2024.
Additionally, billionaire investors have increased their attention to the metals industry. According to the 2024 UBS Billionaire Ambitions Report, 40% of affluent investors intend to expand their holdings of gold and other precious metals in the upcoming year. Warren Buffett’s conglomerate has chosen mining stocks over actual gold, and Jeff Bezos and Bill Gates have invested $537 million in Africa’s rare metals sector. This is part of a larger strategy move toward assets linked to technology and sustainable energy. The fact that eight of the top 100 billionaires in Forbes have made their riches in mining and metals highlights the industry’s ongoing profitability.
Methodology
To create our list of the 12 Best Gold Stocks to Invest In According to Billionaires, we examined Insider Monkey’s exclusive database of billionaire stock holdings. Based on the largest number of billionaire investors, as of Q4 2024, we have chosen the 12 best gold stocks. We have included the total value of billionaire holdings as a secondary criterion to rank the stocks that have the same number of billionaire holdings. We have also considered the number of hedge funds holding a stake in the respective stocks, as per Insider Monkey’s database of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Aerial shot of a mine entrance, the bedrock of the company’s gold and silver extraction.
Kinross Gold Corporation (NYSE:KGC)
Number of Billionaire Investors: 12
Number of Hedge Fund Holders: 42
The acquisition, exploration, and development of gold properties in the United States, Brazil, Chile, Canada, and Mauritania define Kinross Gold Corporation’s (NYSE:KGC) operations. In addition, the company manufactures silver and works on gold mining property reclamation. The $598.4 million that billionaires own in Kinross Gold shows how confident investors are in the company’s sound foundation and future expansion, helping it rank among the best gold stocks.
According to its yearly projection, Kinross Gold Corporation (NYSE:KGC) produced 512,000 gold equivalent ounces in Q1 2025 at a cost of sales of $10.38 per ounce. Strong free cash flow of $371 million and a decrease in net debt to $540 million were the results of this success. The company was able to achieve strong margins across its portfolio because of the favorable gold pricing environment. Kinross is still in a great financial position with a healthy cash position and $2.3 billion in total liquidity. The business plans to produce 2 million ounces over the course of the year, with an all-in sustaining cost of $15 per ounce and a cost of sales projection of $11.20 per ounce.
Adjusted operating cash flow of $676 million, attributable free cash flow of $371 million, and a cash position of $695 million are the financial highlights for the first quarter of 2025. A $500 million share repurchase program is also planned by Kinross Gold Corporation (NYSE:KGC), demonstrating its confidence in its financial stability. Risks include operational disruptions, shifting gold prices, and exploration difficulties, especially in new project locations, even in a good market scenario.
With a particular focus on brownfield projects, Kinross Gold Corporation (NYSE:KGC) is nevertheless committed to exploration at important locations including Tasiast and Paracatu. While acknowledging Kinross’s emphasis on producing net cash by the end of the year, CEO Paul Rollinson voiced confidence in the company’s production profile and cash flow generation.
Overall KGC ranks 3rd on our list of the best gold stocks to invest in according to billionaires. While we acknowledge the potential of KGC as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than KGC but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
