Kinross Gold Q3 Free Cash Flow Hits $687M; PT Raised to $54
In Q3 2025 Kinross Gold produced 500,000 ounces of gold and generated record free cash flow of $687 million, enabling share buybacks and a dividend increase. CIBC lifted its price target to $54 from $38.50 and Scotiabank to $45, reflecting gold forecasts of $6,000/oz in 2026 and $6,500 in 2027.
1. Q3 Production and Cash Flow
Kinross Gold produced 500,000 ounces of gold in the third quarter of 2025 and delivered a record $687 million in free cash flow. This strong cash generation has funded a renewed share buyback program and a boosted dividend, underlining the company’s operational efficiency and financial discipline.
2. Analyst Price Target Increases
CIBC raised its price target on Kinross Gold to $54 from $38.50 with an Outperform rating, while Scotiabank set a new target of $45. Both firms cited higher gold price assumptions of $6,000 per ounce for 2026 and $6,500 for 2027, driven by sustained demand and geopolitical uncertainty.