Kinross Gold Corporation (KGC) Shares Trade Near 52-Week High Amid Jefferies Target Hike

With a low forward price-to-earnings multiple and significant hedge fund interest, Kinross Gold Corporation (NYSE:KGC) secures a spot on our list of the 12 cheap gold stocks to buy now.

Kinross Gold Corporation (KGC) Shares Trade Near 52-Week High Amid Jefferies Target Hike

A close-up of a technician using advanced geological-surveying equipment, evaluating a gold deposit.

On December 12, 2025, Kinross Gold Corporation (NYSE:KGC) reached a new 52-week high of $29.17, closing at $27.92. This reflects the company’s strong momentum in 2025, as its shares have risen over 200% this year alone and roughly 80% over the past six months. Amid the upward trajectory of gold prices, the company has attracted growing investor attention.

In particular, Kinross Gold Corporation (NYSE:KGC) caught the attention of Jefferies’ Fahad Tariq, who raised the firm’s price target from $32 to $33 on December 7, while reiterating a “Buy” rating, according to The Fly. In a 2026 metals and mining preview, the analyst noted attractive valuations for gold equities. However, he cautioned on copper stocks. He projects higher margins and increased free cash flow for gold miners in 2026, driven by strong ongoing momentum and expected demand for the safe-haven asset. In September, the firm’s analyst, Chris Wood, projected that gold prices could reach as high as $6,600 per ounce in the long term.

On December 4, 2025, Kinross Gold Corporation (NYSE:KGC) saw Moody’s Investors Service upgrade its senior unsecured rating to Baa2 from Baa3, with a stable outlook. Moody’s upgrade reflects Kinross’ scale, production, profile, low leverage, and conservative financial policies.

Furthermore, on the same day, Kinross Gold Corporation (NYSE:KGC) repaid $500 million in Senior Notes ahead of schedule. With this, the company brought total 2025 debt repayments to approximately $700 million, strengthening its balance sheet.

Kinross Gold Corporation (NYSE:KGC) is focused on gold exploration, extraction, processing, and silver production. Its operations span the U.S., Brazil, Chile, Canada, and Mauritania.

While we acknowledge the potential of KGC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KGC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.