Kinross Gold (KGC): The Free Pick Explained

Before asking for a subscription, Dylan Jovine gives away a free stock pick in the BTM Gold War presentation: Kinross Gold, ticker KGC. This is not a teaser. It is a real, tradable stock on the New York Stock Exchange that you can buy through any brokerage. As we detail in our full review of the BTM Gold War presentation, giving away a free pick before the paywall is a smart move that lets you evaluate the quality of Jovine’s research before committing $49.

The Company

Kinross Gold is one of the largest gold producers operating on American soil, with operations in Nevada and Alaska. Jovine notes a poetic detail: Kinross’s flagship American operation is a massive Alaskan gold mine literally named Fort Knox. While Washington circles the real Fort Knox in Kentucky, investors can own the one in Alaska today, in a regular brokerage account.

Kinross is a real company (NYSE: KGC) and a legitimate gold producer. It is not a junior explorer or a speculative development story. It mines gold, sells it, and generates revenue. For investors who want gold exposure through an established producer rather than an early-stage developer, Kinross is the kind of company that fits.

The Valuation

Jovine makes a straightforward valuation case. Kinross trades near 12 times earnings. The average big American stock trades near twice that. Meanwhile, the metal Kinross pulls out of American ground sells near $4,000 an ounce. Central banks have built a floor under that price with the heaviest buying since 1950, with over a thousand tonnes a year being accumulated globally.

Every dollar gold holds above Kinross’s cost of mining falls almost straight to the bottom line. If gold stays at $4,000 or goes higher, Kinross’s profit margins expand without the company having to do anything differently. The leverage is embedded in the business model.

Wall Street’s average price target for Kinross sits at $40.24, about 74 percent above recent prices. This is analyst consensus, not Jovine’s own target, which is appropriate. The consensus suggests that even without a gold revaluation, there is meaningful upside in the stock based on current fundamentals.

The Timing Call

Jovine adds a timing element: “Kinross reports quarterly earnings in a matter of days. If you’re going to buy it, my strong preference is before the market sees those numbers. Not after.” This implies a near-term catalyst that could move the stock. Whether the earnings beat expectations is uncertain, but the call to act before a known catalyst is a legitimate investment approach.

Producer vs. Weapon

Jovine draws a clear distinction between Kinross and his main recommendation, the Arsenal. “Kinross is a producer. It profits from the price of gold. The Arsenal is a weapon. It profits from the policy of gold. Kinross rides the wave. The Arsenal is welded to the hand that makes the wave.”

The distinction matters for risk tolerance. Kinross is a producer with revenue, operations, and analyst coverage. Its downside is limited by its earnings and asset base. The Arsenal is an early-stage developer with no revenue whose value depends on permits, federal financing, and a gold revaluation thesis. The Arsenal offers more upside but carries more risk. For more on the Arsenal, see our article on gold mining investment.

The Gold Price Support

The structural case for Kinross is reinforced by the broader gold market. Jovine recommended gold at $1,800 in 2021, and it has since more than doubled to around $4,000, touching an all-time high near $5,600 in January 2026. The European Central Bank has confirmed that gold has overtaken U.S. Treasury bonds as the number one reserve asset held by central banks. China has bought gold for 20 straight months. For more on the gold price, see our gold price analysis.

The 96-to-1 gap adds another layer. The U.S. values its gold at $42.22 per ounce while the market price is near $4,000. If Washington revalues its gold, every gold producer with American operations benefits. For more on this, see our article on the gold revaluation concept.

The Track Record Behind the Pick

Jovine’s track record supports taking his free pick seriously. He called the housing crash in 2006, the Covid crash bottom in March 2020, gold at $1,800 in 2021, and Palantir at $7, which ran to $207. Across eight years, he reports a 71 percent win rate and a 40 percent average return. For more on his record, see our Dylan Jovine profile and our article on Dylan Jovine stock picks.

Is Kinross Worth Buying?

The case for Kinross is straightforward. It is a real gold producer trading at half the market’s earnings multiple. It operates on American soil, including a mine named Fort Knox. Gold has more than doubled since 2021 and is supported by the largest central bank buying spree since 1950. Wall Street’s consensus target implies 74 percent upside.

The risks are standard for a gold producer. Gold prices can decline, affecting margins. Operational issues at mines can impact production. The stock is exposed to broader market conditions. But at 12 times earnings with a 74 percent consensus upside, Kinross is a reasonable way to get gold exposure through an established company. And the fact that Jovine gives it away for free, before asking for a subscription, demonstrates confidence in his research.

This is not financial advice. Always do your own research before investing.