UBS Boosts Kinross Gold’s (KGC) Price Target to $27, Maintains Buy

Kinross Gold Corp. (NYSE:KGC) is one of the best precious metals stocks to buy now. On September 19, UBS analyst Daniel Major increased the price target on the company’s stock to $27 from $20, while maintaining his Buy rating.

UBS Boosts Kinross Gold's (KGC) Price Target to $27, Maintains Buy

The company has a robust balance sheet with $1.1 billion in cash and a total liquidity (including credit facilities) of $2.8 billion. This enables it not only to fund expansions at its existing operations but also to accelerate new growth projects, supporting production through 2030 and beyond.

It also boasts a strong free cash flow yield of over 7%, which stands above most of its peers, and is supported by a high-margin production profile. Kinross Gold Corp. (NYSE:KGC) has guided for annual attributable gold equivalent production of 2.0 million oz between 2025 and 2027. This production profile is underpinned by a sizeable gold and resource base with nearly 22 million ounces in proven/probable reserves and 26 million ounces of measured and indicated resources.

Kinross Gold Corp. (NYSE:KGC) is a Canadian global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada.

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. This article is originally published at Insider Monkey.