Kinross Gold Corporation is named one of the most undervalued Canadian stocks to buy, with a price target raised to $22 by CIBC following a strong Q2 report. The company produced 513,000 gold equivalent ounces in Q2, leading to a record operating margin and free cash flow. Financials show over $1.1 billion in cash and reduced net debt.

Kinross Gold is on track to meet full-year guidance targets for gold production, with total capital expenditures expected to be $1.15 billion. The company has returned almost $300 million to shareholders and is focused on operational execution and cost efficiency.

Kinross Gold Corporation acquires, explores, and develops gold properties in various countries. While the company is seen as a potential investment, some believe AI stocks offer greater upside potential with less downside risk. Investors seeking undervalued AI stocks can explore the free report on the best short-term AI stock.

Investors can also explore other stock options such as those that should double in 3 years or hidden AI stocks to buy right now. This article is originally published at Insider Monkey.

Read more at Yahoo Finance: CIBC Raises Kinross Gold (KGC) PT to $22 Following Strong Q2 Performance