Ultime notizie per Kinross Gold (NYSE:KGC) Azioni

Kinross Gold

Kinross Gold is a Canada-based gold producer, producing roughly 2.2 million gold equivalent ounces in 2023. The company had about a decade of gold reserves at the end of 2023. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.

Kinross Gold Corp

KINROSS GOLD ORD

Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.19 by 26.32 percent. The company reported $1.432 billion in sales this quarter. This is a 29.95 percent increase over sales of $1.102 billion the same period last year.

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Kinross Gold Q3 2024 Adj. EPS $0.24 Beats $0.19 Estimate, Sales $1.432B Up From $1.102B YoY

Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) has outperformed the market over the past 5 years by 3.37% on an annualized basis producing an average annual return of 17.17%. Currently, Kinross Gold has a market capitalization of $13.10 billion. 
Buying $100 In KGC: If an investor had bought $100 of KGC stock 5 years ago, it would be worth $224.15 today based on a price of $10.66 for KGC at the time of writing.
<h3>Kinross Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729879218_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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If You Invested $100 In This Stock 5 Years Ago, You Would Have $200 Today

GOLD

PAAS

Shares of gold and silver companies are trading higher. Precious metals have recently gained on macro uncertainty amid Middle East conflict and the upcoming US presidential election.

Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) has outperformed the market over the past 10 years by 3.13% on an annualized basis producing an average annual return of 14.49%. Currently, Kinross Gold has a market capitalization of $13.03 billion. 
Buying $1000 In KGC: If an investor had bought $1000 of KGC stock 10 years ago, it would be worth $3,940.45 today based on a price of $10.60 for KGC at the time of writing.
<h3>Kinross Gold's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729526452_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $3,900 Today

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Shares of precious metals stocks are trading higher amid a rise in the price of gold and silver.

Jefferies analyst Matthew Murphy maintains Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) with a Hold and raises the price target from $9 to $10.

Price Target

Analyst Ratings

Jefferies Maintains Hold on Kinross Gold, Raises Price Target to $10

RGLD

Shares of gold companies are trading higher following a spike in the price of the safe haven asset after Iran launched a missile attack on Israel.

Shares of precious metals companies are trading lower amid a pullback in gold and silver.

Shares of gold companies are trading higher after the price of the commodity reached all-time highs following last week's Fed rate cut.

Source: <a href="https://www.streetwisereports.com/article/2024/09/20/new-data-point-to-two-types-of-mineralization-at-property.html?utm_medium=feed">Streetwise Reports 09/20/2024</a>
Sampling results showed that this Chilean project could host high-grade copper and precious metal deposits, which would bode well for its economic viability. Find out why one newsletter writer believes this company is a Buy.
Preliminary results of Vortex Metals Inc.&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vmssf#OTC">VMSSF</a>) recent surface sampling program at the brownfield Illapel copper project in Chile, indicate the presence of copper, silver, and gold mineralization, as announced in a news release.
&quot;[The company] put out some fairly impressive soil sample results yesterday morning&quot; Michael Ballanger of GGM Advisory Inc. wrote in a Sept. 18 article. &quot;They were recovered from a brand new area of the Illapel property.&quot;
Vortex Metals Director Dr. John Larson and his team collected 13 surface samples from several key areas in the project concessions and sent them to ALS Global, a laboratory in Santiago, for multielement analysis. The team also collected bulk samples from which to produce standards for quality control in future drill core analysis.
Eight of the surface samples showed copper, gold, and silver mineralization. Some samples demonstrated elevated levels of associated elements, including iron, molybdenum, and cobalt. Some of the standout results showing high grades are:
<ul>
<li>0.62 grams per ton (0.62 g/t) gold and 1.33% copper in sample 1021</li>
<li>75.2 g/t silver and 4.31% copper in sample 1019</li>
<li>32.6 g/t silver, 0.21 g/t gold, and 5.85% copper in sample 1029</li>
</ul>
The findings overall confirm that the Illapel concessions may host at least two distinct styles of mineralization: mantos (predominantly copper-silver mineralization) and epithermal vein systems (copper-gold mineralization), the release pointed out. Illapel&#39;s potential to host high-grade copper and precious metals deposits suggests the economic viability of future projects, according to the company.
<h2>Diversified Exploration Portfolio</h2>
Vortex Metals is a copper-focused explorer-developer with a diversified portfolio of exploration projects in Chile and Mexico. The discovery-driven company believes there has never been a better time to invest in copper-gold exploration, it noted in its presentation.
The Illapel project comprises three mineral leases over about 6,000 hectares in Chile&#39;s Choapa province, not far from the community of Illapel. The area boasts sufficient infrastructure and is conducive to year-round drilling, noted Technical Analyst Clive Maund in a Sept. 9 report.* The fully permitted project is in &quot;a most promising copper-rich area&quot; and &quot;can be said to have &#39;blue sky&#39; potential.&quot;
Specifically, Illapel is near the fully operational Rio 27 copper-silver mine, from which favorable geology runs north and south. Rio-27 has been in production for more than 10 years and has processed 400,000 tons of high-grade copper (averaging 1.39%) and silver (about 7 g/t) ore, Ballanger wrote.
&quot;This property is a favorite of ex-BHP Billiton Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) Chilean country manager John Larson, whose 16 years with the multinational giant afforded him many &#39;looks&#39; at properties of merit in the Andean copper belt&quot; he added.
Vortex holds an option to acquire up to an 80% interest in Illapel including right of first refusal on the Rio 27 mine and processing facility, Maund explained.
Illapel is also near Sociedad Punta del Cobre&#39;s US$380 million (US$380M) El Espino copper-gold mine, where annual production is estimated to be 26,000,000 tons of copper and 13,000 ounces of gold.
Vortex also owns 100% of Riqueza Marina and Zaachila in an emerging copper belt in Oaxaca, Mexico, through its subsidiary, Empresa Minera Acagold SA de CV. Both of these, drill ready, copper-gold volcanogenic massive sulphide projects, hold potential for significant copper discovery.
The team advancing these assets has successfully developed and exited several exploration projects, including Underworld Resources, sold to Kinross Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>) for CA$139M.
<h2>Copper Price To Remain Strong</h2>
The global copper market is expected increase in value by more than 50%, reaching US$259 billion (US$259B), up from US$170B in 2022, according to Statista.
Bank of America analysts predict the copper price will climb past US$10,000 per ton by 2025, Mining.com reported in a Sept. 17 article. (It is now about US$9,266 per ton.) The price will remain strong, they assert, given high demand, constrained supply, and rising investment in energy transition projects.
Marin Katusa of Katusa Research wrote in a recent article, &quot;Copper has become indispensable.&quot; From electric vehicles to renewable energy systems, its role in the global economy is critical. The ongoing electrification of the world depends heavily on copper, and this dependence is only set to grow.&quot;
This is good news for copper exploration companies, particularly those with a copper-gold porphyry deposit. These deposits, according to Investing News Network, are &quot;among the world&#39;s most valuable deposits&quot; because they contain the largest known exploitable concentrations of copper.
Maund pointed out that junior exploration companies with worthwhile assets likely will become takeover targets.
INN explained in another article, &quot;Due to their size and scope, copper porphyry deposits have the potential to become large-tonnage, low-cost operations based on mineralization.&quot;
According to Katusa, demand for &quot;the engine of the green economy&quot; is &quot;unstoppable&quot; and a supply crunch is inevitable, as indicated by three metrics. They are the rapid decline in days of forward consumption of copper, the long-term global market balance for copper moving toward a deficit and a slowing of global mine production of copper. From 2015 to 2023, only 18,000,000 (18 Mt) of copper were discovered versus 28 Mt in 2014 alone.
While demand for the red metal is increasing, supply remains constrained. Joe Austin, senior analyst at Chaikin Analytics, reported that the copper supply is expected to start declining after peaking at some point in the next two years, according to the International Energy Agency. The agency estimates a copper shortfall of about 7 Mt by 2035, about a third of the output forecasted for that year.
&quot;By 2040, the available supply of copper will be roughly two-thirds of what we produce today. But by then, the demand for copper will have soared far higher than where it is today&quot; Austin wrote.
This anticipated tightening of the copper market is likely to cause a price surge, Katusa purported.
<h2>The Catalyst: Drill Results</h2>
Phase 1 drilling, comprising 3,000 meters, at Illapel is underway to systematically evaluate and advance several high-priority targets within the project area, noted a previous news release.
&quot;It probably won&#39;t be long until results from it start coming in, which could clearly act as a catalyst for the stock&quot; Maund wrote.
<h2>&quot;Stock in Buying Territory&quot;</h2>
Both Ballanger and Maund are bullish on Vortex Metals. In his recent report, Ballanger highlighted that the company&#39;s stock is &quot;dirt cheap&quot; and thus, now was a good time to buy.
&quot;I think it will be a solid performer by the end of the year&quot; he added.
Similarly, Maund wrote recently that the stock is in buying territory, based on its charts. In addition, Vortex is well poised to benefit from the current, major bull markets in copper and gold and the momentum in each that is expected soon.
&quot;This being so, [Vortex&#39;s] stock is regarded as most attractive here following its dip back to a foundation of strong support that is expected to propel an advance to much higher levels&quot; wrote Maund.
<h2>Ownership and Share Structure</h2>
According to Reuters, four strategic entities own 7.84%, or 6.28 million (6.28M) shares, of Vortex. They are Director Michael Williams with 3.6% or 2.88M shares, Cofounder, Chief Executive Officer, and Director Vikas Ranjan with 2.5% or 2M shares, Roger Zelong with 1.07% or 0.86M shares and Director John Larson with 0.67% or 0.54M shares.
One institution, AIPM Azur International Portfolio Management AG, holds 0.94% or 0.75M shares.
Retail investors own the remaining 91.22% of Vortex.
The company has 80.05M outstanding shares and 77.37M free float traded shares.
Its market cap is CA$5.88M, and its 52-week trading range is CA$0.07&ndash;CA$0.15 per share.
Important Disclosures:
<ol>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Vortex Metals Inc.</li>
<li>Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research.</li>
<li>Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
<li>* Disclosure for the quote from the Clive Maund article published on September 9, 2024</li>
<li>For the quoted article (published on September 9, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,575.</li>
<li>Author Certification and Compensation: [Clive Maund of clivemaund. com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts&#39; Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed</li>
</ol>
Clivemaund. com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund&#39;s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund&#39;s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

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New Data Point to Two Types of Mineralization at Property

Shares of precious metals stocks are trading higher as gold and silver rise after the Fed on Wednesday cut rates by 50 basis points.

Shares of gold stocks are trading higher in sympathy with overall market sentiment after the Fed policy decision to cut rates by 50 basis points.

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) shares rocketed 98.32% after the company announced it raised&nbsp;<a href="https://www.benzinga.com//node/40833208" target="_blank" rel="noreferrer noopener">$235 million&nbsp;in net proceeds</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) stock gained 31.77% in the last week after GSK halted development of the Herpes Simplex Virus Vaccine, clearing the path for other contenders like Moderna and BioNTech.</li>
<li>Applovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) stock jumped 28.38% as several analysts raised<a href="https://www.benzinga.com/quote/app/analyst-ratings" target="_blank" rel="noreferrer noopener"> the price target on the stock</a>.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) stock escalated 21.37%. The stock possibly jumped amid sympathy with Petco Health and Wellness Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) after the company <a href="https://www.benzinga.com//node/40822147" target="_blank" rel="noreferrer noopener">reported&nbsp;financial results</a>.</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares increased 20.81%. The stock may be up amid a <a href="https://www.benzinga.com//node/40852990" target="_blank" rel="noreferrer noopener">rebound in some chip stocks</a>.</li>
<li>Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) shares gained 20.50% after Raymond James initiated coverage on the stock with an Outperform rating and announced <a href="https://www.benzinga.com/quote/arm/analyst-ratings" target="_blank" rel="noreferrer noopener">a $160 price target</a>.</li>
<li>MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock upped 18.74% after the company announced purchasing 18,300 bitcoins (CRYPTO: BTC/USD).</li>
<li>Kinross Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) shares increased 17.14% after the company announced it completed a Preliminary Economic <a href="https://www.benzinga.com//node/40788842" target="_blank" rel="noreferrer noopener">Assessment for the Great Bear project</a>.</li>
<li>Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) stock gained 17.10% in the last week on continued strength after a recently announced multi-year partnership with Charter to integrate linear video and streaming services to enhance flexibility and value in video bundles.</li>
<li>Vertiv Holdings, LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) stock upped 17.02%.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40869968/moderna-tyson-foods-and-adobe-are-among-top-10-large-cap-stock-losers-last-week-sep-8-sep-14-are-t">Moderna, Tyson Foods And Adobe Are Among Top 10 Large Cap Stock Losers Last Week (Sep 8-Sep 14): Are The Others In Your Portfolio?</a></li>
</ul>
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Chewy, Broadcom And MicroStrategy Are Among Top 10 Large Cap Stock Gainers Last Week (Sep 8-Sep 14): Are The Others In Your Portfolio?

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent inflation data.

Newmont Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) shares have rallied 24.8% in the past three months, outperforming the Zacks Mining &ndash; Gold industry&#39;s rise of 12.4%. Forecast-topping earnings performance in the second quarter on the back of higher selling prices and production, along with a surge in gold prices, has contributed to the run-up in NEM&#39;s shares.
The stock is currently trading at a roughly 6% discount to its 52-week high of $53.88, reached on Aug. 30, 2024.
Technical indicators show that NEM has been unremittingly trading above the 200-day simple moving average&nbsp;since April 23, 2024. After a series of ebbs and flows, the stock broke the 50-day SMA on July 3, 2024.&nbsp; Following a golden crossover on May 13, 2024, the 50-day SMA continues to read higher than the 200-day moving average, manifesting a bullish trend, with the 200-day SMA acting as the support level.
<h2>Newmont&#39;s Shares Trade Above 50-Day SMA</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a7/77086.jpg?v=2064703259" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
Is the time right to buy NEM&#39;s shares for potential upside? Let&#39;s take a look at the stock&#39;s fundamentals.
<h2>NEM Stock Well Poised on Key Projects &amp; Newcrest Buyout</h2>
Newmont continues to invest in growth projects in a calculated manner. The company is pursuing several projects, including Tanami Expansion 2 in Australia, the Ahafo North expansion in Ghana and Cadia Block Caves in Australia. These projects should expand production capacity and extend mine life, thereby driving revenues and profits.
The acquisition of Newcrest Mining Limited has also created an industry-leading portfolio with a multi-decade gold and copper production profile in the most favorable mining jurisdictions globally. The combination of Newmont and Newcrest is expected to deliver significant value for shareholders and generate meaningful synergies, with $500 million in total annual pre-tax benefits expected by the end of 2025. NEM also remains on track to meet its 2024 gold production target of around 6.9 million ounces with solid performances of its managed Tier 1 assets and contributions of the sites acquired from the Newcrest buyout.
<h2>Solid Financial Health Supports NEM&#39;s Capital Allocation</h2>
Newmont has a strong liquidity position and generates substantial cash flows, which allows it to fund its growth projects, meet short-term debt obligations and drive shareholder value. At the end of the second quarter of 2024, Newmont had liquidity of $6.8 billion, including cash and cash equivalents of around $2.6 billion. Its operating cash flow more than doubled year over year to around $1.4 billion. NEM also generated $594 million in free cash flow and returned roughly $539 million to its shareholders through dividends and share buybacks in the quarter.
As a leading gold producer, Newmont also stands to benefit significantly from the record-setting upswing in gold prices, which should boost its profitability and drive cash flow generation. Gold prices are hitting record highs this year, and the yellow metal has been among the best-performing assets.
Prices skyrocketed to surpass the $2,500 per ounce level for the first time on Aug. 2, 2024, as ebbing inflation raised hopes of a U.S. interest rate cut in September. Increased tensions in the Middle East and concerns over an economic slowdown also fueled safe-haven demand. Prices rallied to a record high of $2,531.70 per ounce on Aug. 20, 2024, on growing Fed rate cut expectations.
NEM offers a healthy dividend yield of 2% at the current stock price. Its payout ratio is 47% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of 15.5%. Backed by strong cash flows and sound financial health, the company&#39;s dividend is perceived to be safe and reliable.
<h2>NEM&#39;s Higher Production Costs A Concern</h2>
Newmont is being challenged by higher production costs, which will likely weigh on its margins over the near term. Its gold costs applicable to sales rose roughly 13% year over year in 2023. Newmont also saw a 19% surge in all-in-sustaining costs &mdash; the most important cost metric of miners. Both cost metrics increased year over year in the second quarter of 2024. The impacts of increased direct operating costs are leading to cost inflation. Higher materials, labor and contract services costs, despite easing somewhat lately, remain as concerns.
<h2>Newmont&#39;s Earnings Estimates Going Up</h2>
Earnings estimates for NEM have been going up over the past 60 days, reflecting analysts&#39; optimism. The Zacks Consensus Estimate for 2024 and 2025 have been revised upward over the same time frame.&nbsp; 
The Zacks Consensus Estimate for 2024 earnings is currently pegged at $2.82, reflecting an expected year-over-year growth of 75.2%. Earnings are expected to register a roughly 20.6% growth in 2025. NEM has a long-term EPS growth rate of 48.5% versus 28.1% for its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/14/77088.jpg?v=2120108024" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>NEM&#39;s Valuation: A Bit Stretched But Reasonable</h2>
Newmont is currently trading at a forward 12-month earnings multiple of 15.74X, a roughly 4.9% premium to the industry average of 15X. The valuation looks reasonable, considering the company&#39;s healthy earnings trajectory.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/97/77087.jpg?v=980756600" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Newmont Outperforms S&amp;P 500</h2>
Thanks to the rally in gold prices, NEM&#39;s shares have racked up a gain of 22.6% year to date, underperforming the industry&#39;s 24% rise but topping the S&amp;P 500&#39;s rise of 13.3%. Its gold mining peers, Barrick Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>), Agnico Eagle Mines Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>) and Kinross Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>), have gained 6.6%, 41.8% and 40.8%, respectively, over the same period.
<h2>NEM&#39;s YTD Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/1e/77085.jpg?v=839872447" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>How Should Investors Play the NEM Stock?</h2>
NEM presents an attractive investment case backed by a robust portfolio of growth projects, solid financial health and bullish technicals. Other positives include a healthy growth trajectory, rising earnings estimates and an attractive dividend yield. Rallying gold prices should also boost NEM&#39;s profitability and drive cash flow generation. Despite the upbeat growth prospects, its high production costs warrant caution. Holding onto this Zacks Rank #3 (Hold) stock will be prudent for investors who already own it.
<a href="https://www.zacks.com/stock/news/2333834/does-newmont-s-25-gain-in-3-months-justify-buying-the-stock-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2333834">To read this article on Zacks.com click here.</a>

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Does Newmont's 25% Gain in 3 Months Justify Buying the Stock Now?

Kinross Gold shares are trading higher after the company announced it completed a Preliminary Economic Assessment for the Great Bear project.

Annual production over 500,000 ounces1 Impressive margins with low AISC2 of ~$800/oz Drilling beyond PEA inventory shows high-grade mineralization at depth
TORONTO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/K#TSX">K</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) ("Kinross" or the "Company") today is pleased to provide an update on the Great Bear project (the "Project"), located in Red Lake, Ontario, Canada.
&nbsp;
Kinross has completed a Preliminary Economic Assessment (PEA) for the Great Bear project which supports the Company's acquisition thesis of a top tier high-margin operation in a stable jurisdiction with strong infrastructure. Based on mineral resources drilled to date, the PEA outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales3 of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC)1 of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.

TSX:K

Kinross Completes Great Bear Preliminary Economic Assessment; Annual Production Over 500K Ounces; Margins With Low AISC Of ~$800/oz; Drilling Beyond PEA Inventory Shows High-Grade Mineralization At Depth

Shares of precious metals stocks are trading lower as gold and silver drop amid a rise in the dollar.

CGAU

Shares of precious metal companies are trading lower amid a drop in the price of gold. Weakness in the commodity may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

Gold prices plunged below the $1,650 mark in 2022, only to gain momentum in 2023 amid recession disquiets. Gold prices settled above $2000 an ounce last year, and registered 28 record-highs this year.&nbsp;
Following a choppy trading session over the previous two weeks, gold prices surged to an all-time high on Friday, topping $2,500 an ounce, and gaining more than 20% this year. One of the prominent gold ETFs, SPDR Gold MiniShares Trust (ARCA:GLDM) also jumped 21.5% year to date.
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Higher demand for gold from central banks, growing Federal Reserve rate-cut expectations, and geopolitical uncertainties have jacked up the price of the bullion metal, with many market participants estimating gold prices to soar well over $3000 an ounce by the end of 2025.
<h2>Central Banks Boost Demand for Gold</h2>
The demand for gold by central banks worldwide has increased significantly over the past five-year period. Almost one out of 10 ounces of gold produced by the mining industry is now being bought by global central banks, per Bullion Vault&#39;s research director, Adrian Ash.&nbsp;
The total value of gold held by central banks, mostly in China, India and Russia has climbed seven times to $2.4 trillion since 2004, added Ash. China, in particular, bought gold for 18 straight months up to May 2024, but demand for the yellow metal has also increased among smaller countries like Poland and Turkey.
<h2>Lower Interest Rate Environment to Help Gold</h2>
The recent discouraging data from the U.S. housing market reinforced expectations of a swift implementation of interest rate cuts to boost economic growth. Residential construction in the United States slowed down in July, with housing starts and building permits declining.&nbsp;
Meanwhile, with inflationary pressure subsiding, Fed officials would certainly be wary of keeping an aggressive monetary policy in place for a longer than obligatory period.
Thus, in a low-interest rate scenario, money is expected to flow out of high-yielding fixed-income investments and into gold.&nbsp;
<h2>Middle East Tensions Push Gold as Safe Haven</h2>
Unrest in the Middle East further bolstered the demand for the bullion metal since gold is generally perceived as a safe haven, unlike riskier assets such as stocks and bitcoin.
Volatility is expected to spike across global equity markets as the Gaza war rages on and nations fail to make headway, raising concerns of a wider spillover.&nbsp;
<h2>Gold Glitters, So Does Mining Stocks: GOLD, FNV, KGC</h2>
With the price of the yellow metal scaling upward, the profit margins of gold mining stocks such as Barrick Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>), Franco-Nevada Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnv#NYSE">FNV</a>) and Kinross Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>) are expected to improve. Thus, astute investors should place bets on them. These stocks, currently, possess a Zacks Rank #2 (Buy).
<h3>Barrick Gold</h3>
Barrick Gold is one of the largest gold mining companies in the world and has operations in the United States as well.&nbsp;
The Zacks Consensus Estimate for GOLD&#39;s current-year earnings has increased 14.2% over the past 60 days. The company&#39;s expected earnings growth for the current year is 44.1%.&nbsp;
<h3>Franco-Nevada</h3>
Franco-Nevada functions as a gold-fixated royalty and stream company. FNV has numerous energy assets worldwide, including the United States.&nbsp;
The Zacks Consensus Estimate for FNV&#39;s current-year earnings has increased 1.6% over the past 60 days. The company&#39;s expected earnings growth for the next quarter and year is 2.2% and 11.1%, respectively.
<h3>Kinross Gold</h3>
Kinross Gold explores gold mines and has major assets in the United States and Canada.&nbsp;
The Zacks Consensus Estimate for KGC&#39;s current-year earnings has increased 9.6% over the past 60 days. The company&#39;s expected earnings growth for the current year is 29.6%.&nbsp;
Shares of Barrick Gold, Franco-Nevada and Kinross Gold have gained 9%, 9.9%, and 51.6%, respectively, so far this year.
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