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Kinross Gold Divests Stake in Asante Gold for C$73.1 Million
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Key Takeaways
Kinross Gold sold 36.9M Asante Gold shares for gross proceeds of C$73.1M.
KGC remains a supportive investor in Asante through convertible instruments.
Kinross' shares have surged 153.7% in a year, outperforming its industry.
Kinross Gold Corporation (KGC - Free Report) announced the sale of 36,927,650 common shares in Asante Gold Corporation at C$1.98 per share, representing roughly 5.2% of the outstanding shares.
The transaction, through a private placement, generated gross proceeds of approximately C$73.1 million. After this transaction, Kinross remains invested in Asante through convertible instruments that represent approximately 8.4% of the outstanding shares on a partially diluted basis. Earlier, on Sept. 8, 2025, KGC sold 29,850,984 common shares of Asante, representing around 4.2% of the outstanding shares.
Prior to the sale, Kinross’ position stood at approximately 5.2% of the outstanding shares and up to 13.2% of the shares on a partially-diluted basis, marking a shift in its ownership structure. The sold shares are subject to a hold period under Canadian securities laws until Dec. 13, 2025. The sale was made in the ordinary course of investments in portfolio companies.
Kinross disclosed that it may or may not purchase or sell Asante shares, depending on market conditions, the latter’s performance, and general economic and industry factors. The company currently has no other intentions related to its investment in Asante.
KGC’s shares have gained 153.7% over the past year compared with the industry’s 78.9% growth.
The Zacks Consensus Estimate for MEOH’s current-year earnings is pegged at $3.72 per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 83.18%.
The Zacks Consensus Estimate for CRS’ current fiscal-year earnings is pegged at $9.51 per share, indicating a 27.14% year-over-year increase.Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.38%. CRS’shares have surged 48.3% in the past year.
The Zacks Consensus Estimate for MOS’ 2025 earnings is pegged at $3.17 per share, indicating a rise of 60.10% from year-ago levels. The company’s earnings beat the consensus estimate in one of the trailing four quarters while missing it in the rest. MOS’ shares have gained 22.3% in the past year.
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Kinross Gold Divests Stake in Asante Gold for C$73.1 Million
Key Takeaways
Kinross Gold Corporation (KGC - Free Report) announced the sale of 36,927,650 common shares in Asante Gold Corporation at C$1.98 per share, representing roughly 5.2% of the outstanding shares.
The transaction, through a private placement, generated gross proceeds of approximately C$73.1 million. After this transaction, Kinross remains invested in Asante through convertible instruments that represent approximately 8.4% of the outstanding shares on a partially diluted basis. Earlier, on Sept. 8, 2025, KGC sold 29,850,984 common shares of Asante, representing around 4.2% of the outstanding shares.
Prior to the sale, Kinross’ position stood at approximately 5.2% of the outstanding shares and up to 13.2% of the shares on a partially-diluted basis, marking a shift in its ownership structure. The sold shares are subject to a hold period under Canadian securities laws until Dec. 13, 2025. The sale was made in the ordinary course of investments in portfolio companies.
Kinross disclosed that it may or may not purchase or sell Asante shares, depending on market conditions, the latter’s performance, and general economic and industry factors. The company currently has no other intentions related to its investment in Asante.
KGC’s shares have gained 153.7% over the past year compared with the industry’s 78.9% growth.
Image Source: Zacks Investment Research
KGC’s Zacks Rank & Key Picks
KGC currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Methanex Corporation (MEOH - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and The Mosaic Company (MOS - Free Report) . MEOH and CRS sport a Zacks Rank #1 (Strong Buy) each, while MOS carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MEOH’s current-year earnings is pegged at $3.72 per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 83.18%.
The Zacks Consensus Estimate for CRS’ current fiscal-year earnings is pegged at $9.51 per share, indicating a 27.14% year-over-year increase.Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.38%. CRS’shares have surged 48.3% in the past year.
The Zacks Consensus Estimate for MOS’ 2025 earnings is pegged at $3.17 per share, indicating a rise of 60.10% from year-ago levels. The company’s earnings beat the consensus estimate in one of the trailing four quarters while missing it in the rest. MOS’ shares have gained 22.3% in the past year.