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Kinross Gold Unveils New NCIB Program to Buy Back Up to 104.2M Shares
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Key Takeaways
KGC gets TSX acceptance to renew NCIB, allowing repurchase of up to 104.2M shares.
Kinross sees share prices as undervalued, backing buybacks with a strong balance sheet and free cash flow.
KGC will cancel all repurchased shares; the prior program saw 35.7M shares bought and retired.
Kinross Gold Corporation (KGC - Free Report) said that the Toronto Stock Exchange has accepted the notice to renew its normal course issuer bid (“NCIB”) program, reinforcing commitment to enhancing shareholder returns.
Under the program, Kinross is authorized to repurchase up to 104,239,211 common shares, approximately 10% of its public float, from March 24, 2026, to March 23, 2027. The company views that the current market price of its common shares may not fully reflect their value, making share repurchases an attractive use of funds. The program is supported by the company’s strong balance sheet and consistent free cash flow generation.
Repurchases may be executed through the TSX, the NYSE and alternative Canadian trading systems, in accordance with the requirements of the exchange and the market price of the shares being acquired. Daily buybacks on the TSX can reach up to 1,156,500 shares, while NYSE purchases are limited to 25% of average trading volumes for the four calendar weeks preceding the date of purchase, with exceptions for block purchases.
All shares acquired under the NCIB will be cancelled, reducing the total shares outstanding. Under its previous program, Kinross repurchased 35,756,550 shares. In relation to the NCIB program, the company has entered an automatic repurchase plan with its designated broker to operate during blackout periods. The purchases under this program are intended but remain discretionary.
KGC stock has jumped 125.5% over the past year compared with the industry’s 94.5% growth.
Image Source: Zacks Investment Research
KGC’s Zacks Rank & Key Picks
KGC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space areAgnico Eagle Mines Limited (AEM - Free Report) , Compañía de Minas Buenaventura S.A.A. (BVN - Free Report) and Balchem Corporation (BCPC - Free Report) .
The Zacks Consensus Estimate for AEM’s 2026 earnings is pegged at $13.28 per share, indicating a rise of 60.39% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 10.77%. AEM’s shares have soared 77.1% over the past year.
The Zacks Consensus Estimate for BVN’s 2026 earnings is pinned at $3.88 per share, indicating a 17.58% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 80.4%. BVN’s shares have jumped 106.3% over the past year.
The Zacks Consensus Estimate for BCPC’s 2026 earnings is pinned at $5.47 per share, indicating a 6.2% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the four trailing quarters, while missing it in the remaining two.
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Kinross Gold Unveils New NCIB Program to Buy Back Up to 104.2M Shares
Key Takeaways
Kinross Gold Corporation (KGC - Free Report) said that the Toronto Stock Exchange has accepted the notice to renew its normal course issuer bid (“NCIB”) program, reinforcing commitment to enhancing shareholder returns.
Under the program, Kinross is authorized to repurchase up to 104,239,211 common shares, approximately 10% of its public float, from March 24, 2026, to March 23, 2027. The company views that the current market price of its common shares may not fully reflect their value, making share repurchases an attractive use of funds. The program is supported by the company’s strong balance sheet and consistent free cash flow generation.
Repurchases may be executed through the TSX, the NYSE and alternative Canadian trading systems, in accordance with the requirements of the exchange and the market price of the shares being acquired. Daily buybacks on the TSX can reach up to 1,156,500 shares, while NYSE purchases are limited to 25% of average trading volumes for the four calendar weeks preceding the date of purchase, with exceptions for block purchases.
All shares acquired under the NCIB will be cancelled, reducing the total shares outstanding. Under its previous program, Kinross repurchased 35,756,550 shares. In relation to the NCIB program, the company has entered an automatic repurchase plan with its designated broker to operate during blackout periods. The purchases under this program are intended but remain discretionary.
KGC stock has jumped 125.5% over the past year compared with the industry’s 94.5% growth.
Image Source: Zacks Investment Research
KGC’s Zacks Rank & Key Picks
KGC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space areAgnico Eagle Mines Limited (AEM - Free Report) , Compañía de Minas Buenaventura S.A.A. (BVN - Free Report) and Balchem Corporation (BCPC - Free Report) .
While AEM and BVN sport a Zacks Rank #1 (Strong Buy) each at present, BCPC carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AEM’s 2026 earnings is pegged at $13.28 per share, indicating a rise of 60.39% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 10.77%. AEM’s shares have soared 77.1% over the past year.
The Zacks Consensus Estimate for BVN’s 2026 earnings is pinned at $3.88 per share, indicating a 17.58% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 80.4%. BVN’s shares have jumped 106.3% over the past year.
The Zacks Consensus Estimate for BCPC’s 2026 earnings is pinned at $5.47 per share, indicating a 6.2% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the four trailing quarters, while missing it in the remaining two.