Kinross Gold Surges 13% as Gold Prices Rebound
Kinross Gold Corporation's (KGC) shares have surged 12.7% in the past month, outperforming the Zacks Mining, Gold industry and the S&P 500. The company's better-than-expected earnings were driven by higher realized prices and strong margins.
The rebound in gold prices has contributed to KGC's growth, with bullion prices currently above $4,400 an ounce after falling from their January peak of nearly $5,600 per ounce. However, rising rate-hike expectations are weighing on the yellow metal.
Kinross boasts a strong production profile and a promising pipeline of exploration and development projects. The company is progressing with the construction of three organic growth projects to expand its U.S. portfolio, which are expected to contribute significantly to Kinross' U.S. production profile.