The Globe and Mail reports in its Friday, Jan. 16, edition that National Bank Financial analyst Shane Nagle has reaffirmed his "outperform" recommendation for Kinross Gold. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle bumped his share target ahead by $2 to $52. Analysts on average target the shares at $43.77. Mr. Nagle says Kinross's announcement that it plans to proceed with the construction of three important organic growth projects "better define" its long-term production profile. On Thursday Kinross said it will progress with the Round Mountain Phase X and Bald Mountain Redbird 2 projects in Nevada, and the Kettle River-Curlew project in Washington, which is "expected to meaningfully extend mine life and will benefit long-term costs within Kinross's United States (U.S.) portfolio." It revealed a projected combined internal rate of return of 55 per cent and an incremental posttax NPV4 of $4.1-billion (U.S.). Mr. Nagle says in a note: "[Thursday's] technical reports provide more conviction in mine life extensions and long-term growth outlook for the company beyond development of Great Bear. Our target has increased slightly as we now model lower costs and higher EBITDA for 2026."