Canaccord Genuity Group Issues Pessimistic Forecast for Kinross Gold (NYSE:KGC) Stock Price

Key Points

• Canaccord Genuity Group cut Kinross Gold’s price target from $52 to $47 but maintained a “buy” rating, implying roughly 95% upside from the stock’s $24.14 price. The broader analyst consensus remains “Moderate Buy,” with an average target of $38.10.
• Kinross shares fell 12.6% during Thursday trading, while the stock remains well below its 52-week high of $39.11. Recent analyst target reductions reflect concerns about the company’s operating outlook.
• Kinross beat quarterly EPS expectations, reporting $0.71 versus the $0.66 consensus, and revenue rose 29.5% year over year to $2.22 billion. However, production guidance was reduced and higher expected costs could pressure future margins and free cash flow.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K had its target price cut by stock analysts at Canaccord Genuity Group from $52.00 to $47.00 in a research note issued to investors on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the mining company's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 94.68% from the company's current price.

KGC has been the topic of several other research reports. Weiss Ratings downgraded Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 31st. Scotiabank reduced their price objective on Kinross Gold from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Thursday. TD Securities decreased their target price on Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Scotia lowered their target price on shares of Kinross Gold from $41.00 to $39.00 and set a "sector outperform" rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.10.

Kinross Gold Stock Down 12.6%

KGC traded down $3.48 during trading on Thursday, reaching $24.14. The stock had a trading volume of 14,259,855 shares, compared to its average volume of 9,410,186. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.70 and a beta of 0.84. The stock's 50 day moving average is $27.63 and its two-hundred day moving average is $28.41. Kinross Gold has a one year low of $22.01 and a one year high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Kinross Gold's revenue was up 29.5% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. As a group, analysts expect that Kinross Gold will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Kinross Gold by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company's stock valued at $779,677,000 after purchasing an additional 571,100 shares during the period. Norges Bank purchased a new position in shares of Kinross Gold in the fourth quarter worth approximately $518,656,000. Geode Capital Management LLC grew its position in Kinross Gold by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 12,987,140 shares of the mining company's stock valued at $383,694,000 after buying an additional 701,650 shares during the period. Man Group plc grew its position in Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company's stock valued at $352,751,000 after buying an additional 882,373 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Kinross Gold by 9.3% during the first quarter. The Manufacturers Life Insurance Company now owns 10,014,321 shares of the mining company's stock valued at $305,888,000 after buying an additional 854,802 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold News Roundup

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Kinross raised its 2026 return-of-capital target to 50% of free cash flow, potentially supporting shareholder distributions despite the operational setbacks. Kinross Gold Updates Production Outlook, Raises Capital Return Target
• Positive Sentiment: Scotiabank maintained a sector outperform rating, although it lowered its price target from $41 to $39. Other recent analyst targets remain above the current market level, indicating that some analysts still see substantial upside if operating performance improves. Scotiabank Adjusts Kinross Gold Price Target
• Neutral Sentiment: Institutional positioning was mixed in the latest reported quarter, with some large investors adding shares while others reduced their holdings. This provides no clear near-term directional signal for KGC.
• Negative Sentiment: Kinross now expects 2026 and 2027 attributable production of approximately 1.84 million to 1.86 million gold-equivalent ounces annually, or 2% to 3% below the low end of its prior guidance. Kinross Gold Lowers 2026 and 2027 Gold Production Outlook
• Negative Sentiment: The company raised its 2026 cost guidance to approximately $1,420–$1,460 per ounce for production cost of sales and $1,850–$1,900 per ounce for all-in sustaining costs. Higher costs threaten margins and free cash flow.
• Negative Sentiment: Operational problems at La Coipa in Chile—including severe winter weather, lower mining rates, weaker mill throughput and recovery issues—and at Round Mountain in Nevada, where grades, recoveries and mining rates were below expectations, drove the outlook reduction. Kinross Gold Operational Update

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company's operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.

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