Kinross Gold (TSX: K, NYSE: KGC) said on Tuesday it has sold its entire shareholding in Asante Gold (TSXV: ASE) at a discount, without providing reasons for the divestment.According to an early warning report, Kinross sold approximately 36.93 million of Asante’s shares, representing 5.2% of those outstanding, at a price of C$1.80 per share. Asante opened the session at C$2.20 and later rose to a 52-week high of C$2.29, giving Asante a market capitalization of roughly C$1.6 billion ($1.16bn).Kinross had alre ...

(All dollar amounts are expressed in Canadian dollars, unless otherwise noted.) TORONTO, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (“Kinross”) (TSX: K, NYSE: KGC) announced today that it has sold an aggregate of 36,927,650 common shares (“Shares”) of Asante Gold Corporation (“Asante”) representing approximately 5.2% of the outstanding Shares and 100% of the Shares held by Kinross. The Shares were sold at a price per Share of C$1.98 (not including commission), representing an aggregate sale ...

Core Viewpoint - Kinross Gold Corporation has sold 36,927,650 common shares of Asante Gold Corporation, representing approximately 5.2% of the outstanding shares, for a total of C$73,116,747 at a price of C$1.98 per share [1] Group 1: Sale Details - The shares were sold on a private placement basis and are subject to a hold period until December 13, 2025 [2] - Prior to the sale, Kinross held approximately 5.2% of the outstanding shares and up to 13.2% on a partially-diluted basis [1] - After the sale, Kinross retains convertible instruments representing approximately 8.4% of the outstanding shares on a partially diluted basis [1] Group 2: Future Intentions - Kinross may consider future purchases or sales of Asante securities depending on market conditions and other factors [2] - Currently, Kinross has no specific plans or intentions regarding its investment in Asante [2] Group 3: Company Information - Kinross Gold Corporation is a Canadian-based global senior gold mining company with operations in the United States, Brazil, Mauritania, Chile, and Canada [4] - The company focuses on responsible mining, operational excellence, disciplined growth, and maintaining a strong balance sheet [4]

Group 1: Market Overview - The analysis covers the performance of Gold Spot in US Dollars, indicating fluctuations in the precious metal market [1] - Chevron Corp and Exxon Mobil Corp are highlighted for their significant roles in the energy sector, with a focus on their stock performance and market strategies [1] - Kinross Gold Corp is discussed in relation to its operational efficiency and production levels, reflecting trends in the gold mining industry [1] Group 2: Company-Specific Insights - Chevron Corp's recent financial results show a strong revenue increase, driven by higher oil prices and production levels [1] - Exxon Mobil Corp is noted for its strategic investments in renewable energy, positioning itself for future growth amid changing market dynamics [1] - Kinross Gold Corp's production costs are analyzed, revealing challenges in maintaining profitability in a volatile gold market [1]

Key Takeaways KGC advances Great Bear and Round Mountain Phase X projects with drilling confirming strong grades.Studies for Lobo-Marte progress, supporting a long-life, low-cost production outlook.KGC shares surged 151.1% YTD, outpacing the industry's 112.5% rally.Kinross Gold Corporation (KGC) has a strong production profile and boasts a promising pipeline of exploration and development projects. These are expected to boost production and cash flow and deliver significant value. Its key development projec ...

Core Viewpoint - Kinross Gold Corporation (KGC) has experienced a significant stock price increase of 49% over the past three months, outperforming both the Zacks Mining – Gold industry and the S&P 500, driven by rising gold prices and favorable market conditions [1][7]. Group 1: Stock Performance - KGC's stock has outperformed its peers, with Barrick Mining Corporation, Newmont Corporation, and Agnico Eagle Mines Limited gaining 36%, 35.6%, and 24.1%, respectively, during the same period [2]. - Technical indicators show KGC trading above its 200-day and 50-day simple moving averages, indicating a bullish trend [5]. Group 2: Development Projects - Key projects such as Great Bear in Ontario and Round Mountain Phase X in Nevada are expected to enhance KGC's production and cash flow [10]. - The Tasiast and Paracatu assets are crucial for cash flow generation, with Tasiast achieving record production and cash flow in 2024 [11]. Group 3: Financial Health - KGC reported robust liquidity of approximately $2.8 billion, including over $1.1 billion in cash and cash equivalents, and a significant increase in free cash flow of about 87% year-over-year [12]. - The company repaid $800 million of debt in 2024, improving its net debt position to around $100 million by the end of the second quarter of 2025 [13]. Group 4: Gold Price Dynamics - Gold prices have surged by 40% this year, driven by trade tensions and expectations of a U.S. Federal Reserve interest rate cut, with prices exceeding $3,600 per ton [15][16]. - Central banks are increasing gold reserves, contributing to sustained demand and price support [16]. Group 5: Cost Pressures - KGC experienced a 4% year-over-year increase in production costs per ounce, with all-in-sustaining costs rising nearly 8% to $1,493 per gold equivalent ounce sold [18]. - The company anticipates continued cost pressures through 2025, with expected AISC reaching $1,500 per gold equivalent ounce [19]. Group 6: Analyst Sentiment - Analysts have raised earnings estimates for KGC, with the Zacks Consensus Estimate for 2025 earnings projected at $1.38, indicating a year-over-year growth of 102.9% [20]. - KGC is currently trading at a forward price/earnings ratio of 16.25X, which is a premium compared to the industry average [21]. Group 7: Investment Outlook - KGC's strong project pipeline and financial health, along with rising earnings estimates, present a positive outlook, although higher production costs and stretched valuations may warrant caution for new investors [24].

Industry Overview - The Zacks Mining - Gold industry has experienced a 38.5% growth in gold prices this year, driven by geopolitical tensions and central bank buying [1][4] - The industry involves complex processes of gold extraction from both underground and open-pit mines, requiring significant financial resources and time [3] Major Trends - Gold prices are expected to continue rising due to a demand-supply imbalance, with central banks accumulating gold reserves [2][6] - The industry faces challenges such as high production costs and a shortage of skilled labor, prompting companies to focus on cost-reduction strategies and digital innovation [5] Demand & Supply Dynamics - Depleting resources and declining supply from old mines are significant threats, while demand from sectors like energy and technology is increasing [6] - India and China account for approximately 50% of global consumer gold demand, with strong demand expected to persist in India [6] Industry Performance - The Mining-Gold Industry has outperformed the S&P 500 Index and the Basic Material sector, with a collective gain of 67.3% compared to the sector's 6.6% and the S&P 500's 19.1% [9] - The industry currently trades at an EV/EBITDA of 9.04X, significantly lower than the S&P 500's 18.23X and the Basic Material sector's 14.11X [11] Company Highlights - **Agnico Eagle Mines (AEM)**: Focused on extending mine life and optimizing costs, with a projected 64% year-over-year earnings growth for 2025 [18][17] - **Barrick Mining (B)**: Positioned to benefit from key growth projects, with a projected 56.4% year-over-year earnings growth for 2025 [23][22] - **Newmont (NEM)**: Created an industry-leading portfolio through the acquisition of Newcrest Mining, with a projected 52% year-over-year earnings growth for 2025 [26][25] - **Franco-Nevada (FNV)**: Expected to see a 51.4% year-over-year earnings growth for 2025, focusing on cost management and a healthy portfolio of agreements [30][29] - **Kinross Gold (KGC)**: Anticipates a remarkable 103% year-over-year earnings growth for 2025, supported by strong liquidity and development projects [32][34]

Core Insights - Kinross Gold has sold 29,850,984 common shares of Asante Gold, representing approximately 4.2% of Asante's outstanding shares and about 44.7% of Kinross's holdings in Asante [1] - The shares were sold at C$1.55 each, resulting in a total sale price of C$46.2 million [1] - Following the sale, Kinross's stake in Asante is now approximately 5.2% on a non-diluted basis and 13.2% on a partially diluted basis [2] Group 1: Transaction Details - The sale was part of Kinross's regular investment portfolio management [3] - Kinross currently holds 36,927,650 shares, 5,000,000 warrants, and a convertible debenture that can be converted into shares at C$1.81 within five years [2] - Asante's president and CEO noted that the shares sold were part of the consideration when Kinross sold the Chirano Mine to Asante in 2022 [3] Group 2: Future Considerations - Kinross has indicated that future transactions involving Asante's securities may occur based on market conditions, but there are no specific plans at this time [3] - Asante recently secured C$237 million through a private placement as part of a larger $500 million financing package for advancing its mining projects [4] - The private placement involved selling 163.3 million subscription receipts at C$1.45 each, with funds released after meeting escrow conditions [5]

Group 1 - The gold sector experienced a significant rise, with spot gold surpassing $3,560, marking a new historical high [1] - Notable stock performances include Harmony Gold (HMY.US) up over 7%, Royal Gold (RGLD.US) up 0.34%, Coeur Mining (CDE.US) up over 3%, New Gold (NGD.US) up over 1%, DRDGOLD (DRD.US) up over 5%, and Kinross Gold (KGC.US) up over 2% [1] - According to Tavi Costa from Crescat Capital, foreign central bank gold holdings have exceeded U.S. Treasury holdings for the first time since 1996 as gold prices reach record levels [1]

Core Insights - Kinross Gold Corporation (KGC) ended Q2 2025 with strong liquidity of approximately $2.8 billion, including over $1.1 billion in cash and cash equivalents, and experienced a significant increase in free cash flow by about 87% year over year and 74% from the previous quarter, driven by robust gold prices and strong operational performance [1][2][7] Financial Performance - KGC improved its net debt position to around $100 million at the end of Q2 from $540 million in the prior quarter, enhancing its financial stability and capacity for growth and debt reduction [2] - The Zacks Consensus Estimate for KGC's earnings for 2025 and 2026 indicates a year-over-year increase of 102.9% and 5.2%, respectively, with EPS estimates trending higher over the past 60 days [8] Development Projects - KGC's solid financial foundation supports key development projects such as Great Bear in Ontario and Round Mountain Phase X in Nevada, which are expected to enhance production and cash flow while delivering significant value [3][7] Industry Comparison - Among peers, Agnico Eagle Mines Limited (AEM) reported cash and cash equivalents of $1,558 million and free cash flow of $1,305 million, more than doubling the prior-year figure, while Barrick Mining Corporation had cash and cash equivalents of around $4.8 billion and generated operating cash flows of approximately $1.3 billion, reflecting a 15% year-over-year increase [4][5] Stock Performance - KGC's shares have increased by 131.5% year to date, outperforming the Zacks Mining – Gold industry's rise of 85.4%, largely attributed to the rally in gold prices [6] - KGC is currently trading at a forward 12-month earnings multiple of 15.01, which is a modest 4.5% premium to the industry average of 14.36X, and carries a Value Score of B [9]