-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
Our unchanged 12-month target of CAD58 values Kinross at an EV/EBITDA of 6.8x applied to our 2027 EBITDA estimate, above Kinross's three-year average forward EV/EBITDA of 5.4x but below peers' median forward EV/EBITDA of 7.1x. We increase our 2026 EPS estimate by USD0.23 to USD3.20 and our 2027 EPS estimate by USD0.26 to USD3.59. Kinross remains on track to produce 2.0 million ounces in 2026 at an AISC of USD1,730/oz. The company generated record free cash flow of USD837M in Q1, supporting its strategy to return 40% of FCF to shareholders through buybacks and dividends. With USD2.2B in cash and USD3.9B in liquidity, Kinross maintains an exceptional balance sheet. The growth pipeline is compelling, with U.S. projects (Phase X, Curlew, Redbird) adding production in 2028 and Great Bear advancing toward late-2029 production. Kinross's grade enhancement strategy, combined with fuel hedging (63% hedged for 2026) and operational improvements, positions it to deliver margin expansion and strong cash flow generation.