Kinross Gold Divests Stake in Asante Gold for C$73.1 Million
Kinross Gold Corporation KGC 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 ResearchKGC’s Zacks Rank & Key PicksKGC currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the Basic Materials space are Methanex Corporation MEOH, Carpenter Technology Corporation CRS and The Mosaic Company MOS. 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.Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kinross Gold Corporation (KGC): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Methanex Corporation (MEOH): Free Stock Analysis Report The Mosaic Company (MOS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
