On August 19, Kinross rose 5.64% in regular trading, trading at $28.735/share, with turnover of $29.40 million. The rally came amid a broad-based surge across the gold mining sector as spot gold prices climbed to fresh multi-month highs.
Gold prices have been propelled by heightened geopolitical risks, including escalating US-Iran tensions and the ongoing Russia-Ukraine conflict, which have boosted safe-haven demand. Bank of America recently issued a bold forecast targeting gold at $6,000/oz, while Goldman Sachs maintained its year-end target of $5,400/oz, citing expectations of renewed central bank purchasing at approximately 60 tonnes per month and potential further rate cuts.
Within the Gold sector, the entire group posted strong gains. Among individual stocks, Coeur Mining rose 6.89%, Newmont Mining rose 6.60%, Agnico Eagle Mines rose 5.89%, Anglogold Ashanti rose 5.69%, and Barrick Mining Corporation rose 5.42%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)