Reported 1 day ago
CIBC has raised the price target for Kinross Gold Corporation (NYSE:KGC) to $22 from $21, maintaining an Outperform rating, following the company's impressive Q2 performance, where it produced 513,000 gold equivalent ounces at a cost of $1,074 per ounce. The strong results included a record operating margin exceeding $2,200 per ounce and a free cash flow of $647 million, showcasing Kinross Gold’s robust financial health with over $1.1 billion in cash. The company is on track to meet its annual production target of 2 million gold equivalent ounces.
Source: YAHOO