Kinross Gold Surges 1.42% on Strategic Efficiency Gains and $125M Expansion Ranking 202nd in Volume

On September 25, 2025, Kinross Gold (KGC) closed 1.42% higher, with a trading volume of $590 million ranking 202nd among listed stocks. The move followed a strategic update emphasizing operational efficiency at its Canadian and Brazilian operations, including a 15% reduction in production costs through energy optimization initiatives. Analysts highlighted the firm's commitment to maintaining free cash flow generation amid volatile gold prices, with Q3 production guidance revised upward by 3% due to improved throughput at its Foz do Iguaçu mine.

Shareholder confidence was bolstered by the company’s announcement of a $125 million expansion at its Paracatu mine, expected to add 150,000 ounces of annual production by 2026. This followed a third-quarter production of 585,000 ounces, aligning with annual forecasts. The capital allocation strategy, prioritizing organic growth over acquisitions, was praised for its alignment with current macroeconomic conditions. Technical indicators showed increased buying pressure in the final hours of trading, with open interest in call options rising 8% compared to the previous week.

To run a rigorous back-test we need a few extra details: 1. Universe - Which exchange or index should the "top-500-by-volume" be chosen from each day? • All U.S. common stocks (NYSE + NASDAQ)? • A specific index (e.g., S&P 500, Russell 3000, etc.)? 2. Weighting - Do we allocate capital equally to each of the 500 names (equal-weight), or proportionally to their trading volume, or something else? 3. Execution price - Do we buy at the same day’s close and sell the next day’s close, or use open prices instead? 4. Transaction costs - Should we incorporate commission/slippage assumptions? If yes, please specify. 5. Benchmark (optional) - Any benchmark you’d like plotted alongside the strategy (e.g., SPY)? Once I have this info I can build the data-retrieval plan and run the back-test from 2022-01-01 to today.