We just covered the 12 Best Stocks to Invest In According to Jim Simons’ Renaissance Technologies and Kinross Gold Corporation (NYSE:KGC) ranks 4th on this list.
Kinross Gold Corporation (NYSE:KGC) has been a consistent feature in the 13F portfolio of Renaissance Technologies for many years. The fund first disclosed a stake in the company back in the first quarter of 2011. This position comprised 448,000 shares. The fund sold off this holding within months. A new position in the company was then declared in the second quarter of 2013. Since then, the firm has featured constantly in the portfolio of the fund. Filings for the first quarter of 2026 show that the fund owned more than 25 million shares in the company, up more than 2% compared to filings for the fourth quarter of 2025.
Gold bars. Photo by Zlaťáky.cz on Pexels
The bull case for Kinross Gold Corporation (NYSE:KGC) centers on the operating leverage it is capturing as gold trades at historically elevated prices. When revenue expands faster than unit costs, the translation to the bottom line is explosive. Driven by an extraordinary average realized gold price of $4,873 per ounce in Q1, metal sales in the latest earnings rose 61% year-over-year to $2.41 billion, up from $1.50 billion in Q1 2025. Adjusted net earnings skyrocketed to $854.1 million, or $0.71 per share, more than doubling the $0.30 per share reported in the prior-year period. Despite facing inflationary operational cost pressures, production margins increased by 92% year-over-year to a record $3,476 per gold equivalent ounce sold, comfortably outpacing cost increases.
While we acknowledge the potential of KGC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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