Kinross Gold Maintained at Outperformer at CIBC Following Q3 Results; Price Target Raised to US$37.00

MT Newswires Live
11/20

CIBC Capital Markets on Thursday reiterated its outperformer rating on the shares of Kinross Gold (K.TO, KGC) while raising its price target to US$37.00 from US$36.00 following the miner's third-quarter results.

"After market on November 4, KGC reported headline Q3/25 adjusted EPS of $0.44 (CIBCe adjusted diluted $0.43), beating our estimate and the Street at $0.40, driven by higher consolidated gold sales and lower other costs. Attributable FCF of $687M beat our estimate of $501M and the Street at $590M on higher operating income. After updating our model for KGC's strong Q3/25 results, we are increasing our price target to $37.00 from $36.00 and maintaining our Outperformer rating. Our annualized CFPS estimate (valuation rolled forward from Q3/25E-FY26E to Q4/25E-FY26E) increases from $3.53 to $3.79," analyst Anita Soni wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 36.24, Change: +0.29, Percent Change: +0.81

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