Kinross Gold Price Target Rises to $42.75 as Free Cash Flow Hits $2.5B
Bank of America raised its price target on Kinross Gold to $42.75 from $37.50 after updating metal price forecasts for 2026. Kinross reported a record $2.5 billion in free cash flow for fiscal 2025 and plans to return 40% of 2026 free cash flow to shareholders.
1. Bank of America Raises Price Target
Bank of America lifted its price target on Kinross Gold to $42.75 from $37.50 and reiterated a Buy rating after revising its 2026 metal price forecasts for North American metals and mining coverage.
2. Fiscal 2025 Results and Production Outlook
Kinross delivered on all key guidance metrics for fiscal year 2025, reporting record free cash flow of $2.5 billion, operating cash flow of $1.146 billion in Q4 and $3.760 billion for the full year, while maintaining a three-year production outlook of 2.0 million gold equivalent ounces per year.
3. Operational Highlights and Shareholder Returns
Tasiast was the highest-margin operation and Paracatu produced over 600,000 ounces, marking the eighth consecutive year above 500,000 ounces. The company returned $1.5 billion to debt and equity holders in 2025 and is targeting a 40% free cash flow return to shareholders in 2026.