Gold’s (GCM25) big run in 2025 has grabbed the attention of investors everywhere, and gold stocks have largely posted strong gains, especially those that pay dividends. The price of gold broke records this year, jumping above $3,000 for the first time in March and then climbing almost 15% in just one month to reach new highs close to $3,500 an ounce. Global economic uncertainty has created surging demand for safe-haven assets.

Since the beginning of 2025, gold prices have surged by approximately 20%, with the precious metal currently trading above $3,200 per ounce. In the last quarter of 2024 alone, demand from financial institutions and investors climbed to 675 metric tons. Countries such as China and Poland have been increasing their gold reserves in an effort to safeguard against currency fluctuations and global tensions.

Amidst all of this, Kinross Gold (KGC) is making a significant impact. The company plans to return $650 million to shareholders in 2025 through dividends and share buybacks, indicating that it is in a solid financial position and is focused on rewarding investors. 

With gold prices reaching all-time highs and Kinross enhancing its performance, it raises the question: Should you consider buying this dividend-paying gold stock in 2025? Let's take a closer look.

Kinross’s Financial Pulse in 2025

Kinross Gold (KGC) is a significant player in the gold mining industry, operating mines and projects throughout the Americas and West Africa. 

The stock has had an incredible run lately. Over the last year, Kinross shares have shot up 73.8%, and they’re up almost 48% just since the start of 2025. 

Looking at the latest numbers, Kinross had a strong start to 2025. In the first quarter, the company produced 512,088 ounces of gold, keeping costs at $1,043 an ounce. Revenue climbed to $1.5 billion, up 38% from last year, and operating cash flow jumped to $597.1 million. Margins grew by 67% to $1,814 an ounce, which is even better than the rise in gold prices. 

Free cash flow more than doubled to $370.8 million, and profits hit $368 million, or $0.30 per share, three times the last-year figure. Kinross also paid down debt, now at $540 million, and has a solid $2.3 billion in liquidity.

The Engines Behind Kinross’s Growth

Kinross’s growth in 2025 really comes down to some smart decisions and a steady approach to giving back to shareholders. One big move was buying about 9.9% of Eminent Gold Corp. (EMGDF) for just over $3 million. This investment increases Kinross’s stake in new gold opportunities and demonstrates its confidence in the future direction of gold prices. 

CEO J. Paul Rollinson has clearly outlined the factors driving the company’s progress. He has highlighted that projects such as Great Bear, Redbird at Bald Mountain, and ongoing drilling at Round Mountain and Curlew are all advancing positively. This emphasis on effective operations and cost management is contributing to Kinross’s growth in profits and cash flow. As a result, the company has more capital to reinvest in the business and reward its shareholders.

Additionally, Kinross has revived its share buyback program, aiming to repurchase at least $500 million worth of shares in 2025. On top of that, Kinross keeps paying a steady dividend of $0.03 per share every quarter, with a payout ratio of about 17% for the first quarter of 2025 and a dividend yield close to 1%. While this isn’t the highest yield out there, it’s reliable and backed by strong cash flow. 

Analyst Insights and What Lies Ahead

Analysts are pretty positive about Kinross Gold as we move through 2025, and that’s thanks to the company’s strong numbers lately. The 12 analysts have given it a consensus “Strong Buy” rating, with an average price target of $15.93. That’s about 17% higher than its current price.

Conclusion 

Kinross Gold is ticking a lot of the right boxes for 2025, riding high on record gold prices, delivering strong financials, and rewarding shareholders with both dividends and a buyback plan. With analysts seeing more room to run and management doubling down on growth projects, Kinross stands out as a solid pick for anyone looking to add a dependable, dividend-paying gold stock to their portfolio.