The Globe and Mail reports in its Friday, Sept. 13, edition that Canaccord Genuity analyst Carey MacRury is maintaining his "buy" recommendation for Kinross Gold. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacRury raised his share target to $16.50 from $16. Analysts on average target the shares at $15.30.
Mr. MacRury says in a note: "We reiterate our 'buy' rating and increase our target price on Kinross following the release of the Great Bear PEA. We believe the PEA results confirm the Tier 1 potential of Great Bear with more than 500koz at an AISC of less than $1,000/oz for an asset in a top-tier mining jurisdiction. We also note this is an initial point-in-time mine plan; we expect more ounces to be added to the mine plan as drilling gets underway underground. Kinross remains one of our top picks among the senior gold producers." The Globe reported on July 18 that National Bank Financial analyst Mike Parkin had reaffirmed his "outperform" recommendation for Kinross Gold. The shares could then be had for $12.22. The Globe's guest columnist John Rapley was bullish on Kinross Gold on Sept. 3. The shares could then be had for $12.18.
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