On the back of strong hedge fund and analyst support, Kinross Gold Corporation (NYSE:KGC) features on our list of the best commodity stocks to buy in 2026. The stock carries an upside of 44.1%.
On May 18, 2026, Freedom Broker upgraded Kinross Gold Corporation (NYSE:KGC) to “Buy” from “Hold” and raised its price target to $38 from $13.50, calling Kinross Gold Corporation (NYSE:KGC)’s Q1 a “clean, high-quality beat.” The firm identified the Great Bear project as the “most important unpriced option” in Kinross’ portfolio.
The underlying numbers reinforce that view.
An average realized gold price of $4,873 per ounce in Q1 drove metal sales up 61% year-over-year to $2.41 billion, from $1.50 billion in Q1 2025. Adjusted net earnings more than doubled to $854.1 million, or $0.71 per share, compared to $0.30 per share in the prior-year period. Production margins rose 92% to a record $3,476 per gold equivalent ounce sold, comfortably outpacing cost increases despite inflationary pressures.
On the production side, Kinross Gold Corporation (NYSE:KGC) reported 492,563 gold equivalent ounces in Q1. Production cost of sales came in at $1,397 per gold equivalent ounce sold, with attributable production cost of sales of $1,380 per ounce.
The operating leverage Freedom Broker cited is tied to a realized price that is near $4,900 and a cost structure that is still anchored below $1,400. When revenue expands that much faster than unit costs, the translation to earnings is substantial, and that dynamic is what drove the analyst’s upgrade.
Looking ahead, Kinross Gold Corporation (NYSE:KGC) maintained full-year guidance of 2.0 million gold equivalent ounces, plus or minus 5%, at a production cost of $1,360 per ounce and an all-in sustaining cost of $1,730 per ounce. Total attributable capital expenditures are forecast at $1,500 million, plus or minus 5%.
Based in Canada, Kinross Gold Corporation (NYSE:KGC) is involved in the production, exploration, acquisition, and development of gold properties. Its operations are divided into the following business segments: Tasiast, Paracatu, La Coipa, Fort Knox, Round Mountain, Bald Mountain, and Corporate & Other.
While we acknowledge the risk and potential of KGC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KGC and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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