Kinross Gold Dividend Increase and Upgrade by RBC Capital
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
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Source: Yahoo Finance
- Analyst Upgrade: RBC Capital has upgraded Kinross Gold Corporation to Outperform, reflecting the company's strong free cash flow prospects and stable operational outlook, which is expected to enhance market confidence in its long-term gold mining assets.
- Dividend Increase: The board approved a 14% increase in dividends, which not only boosts shareholder returns but also indicates the company's robust cash generation capabilities and balance sheet strength amid firm gold prices.
- Share Buyback Authorization: Kinross has authorized a buyback of up to 104,239,211 shares, adding another layer to its capital return narrative, demonstrating proactive management of cost inflation and permitting delays while maintaining free cash flow.
- Future Projections: Kinross projects $6.4 billion in revenue and $1.5 billion in earnings by 2028, with a fair value estimate of CA$54.39, indicating a 16% upside from its current price, reflecting investor optimism about its growth potential.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
