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How to Buy Kinross Gold Stock in Canada [2024]

How to Buy Kinross Gold Stock in Canada
Nemanja Curcic

Summary: Some investors appreciate gold and silver more than other commodities, so investing in Kinross Gold is a suitable investment opportunity. This guide will detail every step of buying Kinross Gold stock (KGC) in Canada through a regulated investing service like Interactive Brokers

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

About Kinross Gold

Founded in 1993, the company is a significant player in the gold mining industry, operating six active mines on three continents: North America (the U.S.), South America (Brazil), and Africa (Mauritania). Notably, it is also included on the ‘Top 10 Gold-mining Companies‘ list.

How to Buy Kinross Gold Stock in Canada: Kinross Gold homepage screenshot.
Kinross Gold homepage screenshot. Source: kinross.com

Kinross Gold emphasizes responsible and sustainable mining, employee safety, and social responsibility. It actively seeks to minimize the environmental impact of mining while putting effort into contributing to local economies. In May 2021, the company committed to achieving net-zero greenhouse gas emissions by 2050

Besides its mining operations, Kinross Gold engages in exploration and innovation in the mining sector, investing in research and development of the mining practice for greater efficiency and safety.

How to buy Kinross Gold stock in Canada: step-by-step

As the company had its initial public offering (IPO) on June 1, 1993, the general public can invest in Kinross Gold via an online exchange service. The process is straightforward, and this article will explain each step.

Step 1: Choose a broker

To buy KGT in Canada, investors have to register with a regulated brokerage first. A brokerage will provide access to the stock market, allowing you to purchase publicly traded stock. Consider these aspects when opting for a brokerage:

  • Range of offerings: You should look to have more assets available than just KGT. Check for different commodities, various stocks, forex, and even derivative assets like options, CFDs, and futures;
  • Cost: The industry standard is commission-free trading with no-minimum accounts for stocks and ETFs, so you should not choose anything less than that;
  • Regulation and security: Ensure the investing platform follows the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations, as well as the availability of two-factor authentication (2FA) and similar security measures; 
  • Fractional stock trading: Platforms that enable fractional stock trading allow you to buy stocks by the dollar amount, which suits those with limited capital or traders seeking to pursue the dollar-cost averaging approach.

To securely buy Kinross Gold stock (KGC), we recommend:

Interactive Brokers (IBKR)

  • Commission-free stock trading;
  • Global stock-trading on 90+ market centers;
  • Fractional shares available;
  • Extra income on fully paid shares;
  • Lowest financing rates for margin accounts in the industry;
  • No account minimum. 

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Step 2: Open and fund your account

Once you choose your platform, proceed to create an account with the brokerage and go through the verification procedure. When you complete that, you need to transfer some funds to make the purchase. 

Opt for your preferred payment option: the most widespread include a bank transfer, debit or credit card, and a third-party transaction service such as PayPal (PYPL). 

Step 3: Decide how much you want to invest

Prior to buying any stock, you need to define how much you want to buy. To help you decide how much KGC to purchase, answer the following questions:

  • Will my living standards decline if I lose this amount of money?
  • Have I established an emergency fund to cover a few months of living costs and paid off all high-interest debt?


Besides, the answer depends on your investing style, the level of risk you are comfortable with, and the ultimate goals of your investment.

Step 4: Place your order and buy Kinross Gold stock in Canada

You must place a trade order to buy the desired amount of Kinross Gold stock. Do this in a four-step procedure: 

  • Step 1: Log into your exchange service account and navigate to the company’s ticker stock symbol KGC;
  • Step 2: Type in the amount of stock you want to buy in the provided slot;
  • Step 3: Select the order type (market order or limit order) and place it;
  • Step 4: Execute the trade.

Step 5: Monitor and manage your investment

After receiving the stock, the investing process continues as you need to monitor and manage your portfolio.

Regularly track the company’s financial status, the price of gold on the Canadian market, and currency inflation rates. Basing your investment decisions on up-to-date and relevant information will boost your investing odds.

Kinross Gold stock price today

Pros and cons of buying Kinross Gold stock in Canada

Pros

Pros

  • Exposure to gold prices: As Kinross Gold is a gold mining company, investing in it provides indirect access to gold price speculation, which serves as a hedge against inflation;
  • Diversification: Investing in gold-related industries is a perfect diversification opportunity as the price of gold tends to rise in cases of financial crisis;
  • Dividend stock: KGC is a dividend stock that pays all shareholders a portion of its profit.
Cons

Cons

  • Gold price volatility: The gold price is volatile as it depends on many factors, including geopolitics, global economic trends, and inflation rate. Any changes in the gold price will reflect on the performance of KGC;
  • Operational safety: Gold mining often involves hazards like mine accidents, production disruptions, and unexpected costs that can impact Kinross Gold company’s performance;
  • Environmental effects: Mining companies, including gold mines, are often affected by regulations that increase the cost of production and incur extra expenses in alleviating the ecological footprint.

Common mistakes to avoid when investing

Make sure to avoid these common investing mistakes:

  • Lack of research: Perform detailed analysis of the investment, market, and sector tendencies before investing;
  • Lack of strategy: Set your investment goals before you spend any money;
  • Staking everything on one asset: Always diversify your portfolio;
  • Falling prey to scams: Avoid suspicious platforms and fanciful deals.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Kinross Gold stock in Canada

How to buy KGC stock?

The most optimal way to invest in Kinross Gold in Canada is through a regulated third-party brokerage like Interactive Brokers.

Where to buy KGC stock?

Since KGC is publicly listed, you can buy the stock via an online investing service such as Interactive Brokers.

Should I invest in KGC stock?

The answer depends on factors such as your investing strategy, personality, age, etc. Also, besides the stock itself, it is vital to confirm the performance of the gold commodity, as KGC’s performance directly depends on it.

How do I sell my KGC stock?

Log into your investing account, go to KGC’s page, type in how much stock you want to dispose of, and press ‘sell.’

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

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