Kinross Gold (NYSE:KGC) Price Target Cut to $39.00 by Analysts at Scotia

Key Points

• Scotia cut Kinross Gold’s price target from $41 to $39 but maintained its “sector outperform” rating, implying substantial upside from the stock’s previous close.
• Kinross shares fell 12.6% to $24.14; despite the decline, analysts maintain a “Moderate Buy” consensus with an average price target of $38.10.
• The company’s outlook faces pressure from operational issues at La Coipa and Round Mountain, with projected production lowered and 2026 cost guidance raised, potentially weighing on margins and free cash flow.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K had its price target decreased by equities researchers at Scotia from $41.00 to $39.00 in a research note issued on Thursday, BayStreet reports. The firm presently has a "sector outperform" rating on the mining company's stock. Scotia's target price would suggest a potential upside of 61.54% from the company's previous close.

Several other research analysts also recently issued reports on the stock. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 31st. TD Securities reduced their price target on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday. Weiss Ratings lowered shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. UBS Group cut their target price on Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Kinross Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.10.

Kinross Gold Stock Down 12.6%

Shares of KGC traded down $3.48 on Thursday, reaching $24.14. The company's stock had a trading volume of 14,259,855 shares, compared to its average volume of 9,410,186. The stock has a market capitalization of $28.60 billion, a PE ratio of 9.15, a PEG ratio of 0.70 and a beta of 0.84. The firm has a fifty day moving average of $27.63 and a 200-day moving average of $28.41. Kinross Gold has a twelve month low of $22.01 and a twelve month high of $39.11. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.

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

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its holdings in shares of Kinross Gold by 17.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 9,596,638 shares of the mining company's stock valued at $227,141,000 after acquiring an additional 1,395,576 shares during the period. U S Global Investors Inc. boosted its position in Kinross Gold by 95.4% during the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company's stock valued at $5,962,000 after purchasing an additional 95,363 shares in the last quarter. SteelPeak Wealth LLC purchased a new position in Kinross Gold in the first quarter valued at about $2,263,000. TD Asset Management Inc grew its stake in Kinross Gold by 4.7% in the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company's stock valued at $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Kinross Gold in the second quarter worth about $217,800,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Kinross Gold

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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