SCHEDULE: BlackRock Boosts Kinross Gold Stake to 6.5%

BlackRock, Inc. has reported a 6.5% beneficial ownership stake in Kinross Gold Corp., holding 78,955,000 common shares as of December 31, 2025.

Summary

• BlackRock, Inc. beneficially owns 78,955,000 shares of Kinross Gold Corp. Common Stock.
• This ownership represents 6.5% of the total class of securities.
• BlackRock, Inc. holds sole voting power over 73,557,090 shares and sole dispositive power over all 78,955,000 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Kinross Gold Corp.
• BlackRock Life Limited, a subsidiary of BlackRock, Inc., beneficially owns 5% or greater of the outstanding shares of Kinross Gold Corp.

Sentiment

Score: 7

Explanation: A major institutional investor like BlackRock holding a significant stake (6.5%) in the ordinary course of business is generally viewed positively, indicating confidence in the company without seeking control.

Positives

• A major institutional investor, BlackRock, Inc., holds a significant 6.5% stake in Kinross Gold Corp., indicating institutional confidence.
• The shares are held in the ordinary course of business, suggesting a long-term investment perspective rather than an activist stance.

Management Comments

• BlackRock, Inc. certifies that the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

This Schedule 13G filing indicates a significant passive investment by BlackRock, Inc., a leading global asset manager, in Kinross Gold Corp. Such filings are common for institutional investors that acquire more than 5% of a company's voting shares without the intent to control or influence management, providing transparency on major ownership stakes in publicly traded companies.

Stakeholder Impact

• Shareholders may view BlackRock's significant stake as a positive signal of institutional confidence in Kinross Gold Corp.'s long-term prospects.

Key Dates

Recommendation

The filing indicates a significant institutional ownership by BlackRock, Inc., holding 6.5% of Kinross Gold Corp.'s common stock. This suggests a vote of confidence from a major asset manager, holding the shares in the ordinary course of business without intent to influence control. While this is a positive signal, the filing itself does not contain financial performance data or strategic updates from Kinross Gold Corp. that would warrant a 'buy' or 'sell' recommendation. Therefore, a 'hold' recommendation is appropriate, acknowledging the institutional backing while awaiting further operational or financial disclosures from the issuer.

Keywords

Kinross Gold, BlackRock, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Stock, Gold Mining