Kinross Gold Corporation KGC stated that the Toronto Stock Exchange (TSX) accepted the company's notice to renew its normal course issuer bid (NCIB) program.

Under the NCIB program, KGC is authorized to purchase up to 110,350,160 of its common shares (out of 1,229,635,757 outstanding as of Feb. 28, 2025), representing up to 10% of its public float of 1,103,501,601 common shares, between March 24, 2025, and March 23, 2026.

Kinross Gold perceives that the market price of the common shares may not always completely reflect their value and that purchasing the common shares would be in its best interests as well as an attractive and acceptable use of available funds. The company is committed to increasing shareholder returns through initiatives such as share repurchases and quarterly dividends, which are supported by its investment grade balance sheet and significant free cash flow generation from its global portfolio.

Shares of Kinross Gold have surged 113.3% in the past year compared with the 47.8% growth of the industry.

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For 2025, Kinross Gold expects production to be 2 million gold equivalent ounces (+/- 5%). The company expects a production cost of sales of $1,120 per gold equivalent ounce (+/- 5%) for the year. It expects an all-in-sustaining cost per gold equivalent ounce of $1,500 for 2025. Attributable capital expenditures are predicted at roughly $1,150 million (+/- 5%) for this year.

KGC’s Rank & Key Picks

KGC currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space are Carpenter Technology Corporation CRS, CSW Industrials Inc. CSWI and Axalta Coating Systems Ltd. AXTA

Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 181.2% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CSW Industrials’ current fiscal-year earnings is pegged at $8.50 per share. CSWI, carrying a Zacks Rank of 2 at present, surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 10.1%. The company's shares have rallied 23% in the past year.

Axalta Coating Systems, which currently sports a Zacks Rank of 1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have gained 2.7% over the past year. 

 

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This article originally published on Zacks Investment Research (zacks.com).

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