Kinross Gold Corp (KGC) News & EventsKGCKinross Gold Corp

Kinross Reports Q3 Revenue of $1.77B, Below Consensus

Reports Q3 revenue $1.77B, consensus $1.85B. J. Paul Rollinson, CEO, made the following comments in relation to 2026 third-quarter results: "Kinross' portfolio demonstrated its resilience in Q3. Our largest operations, Paracatu and Tasiast, continued to make significant contributions and we maintained disciplined cost management. We remain on track for our updated guidance, supported by operational improvements at Round Mountain and La Coipa. We are focused on maintaining this momentum and driving continuous improvement across our operations. We continue to make strong progress across our development pipeline. At Great Bear, AEX underground development is well underway and AEX surface construction is substantially complete. Round Mountain Phase X and Curlew are advancing well, and first gold was poured at Redbird in early October. At Lobo-Marte, permitting continues to progress and detailed engineering has commenced. These projects underpin our grade enhancement strategy and, together with the opportunities across our significant resource inventory, contribute to our long-term production profile. Our strong financial position and ability to generate significant free cash flow provide us with flexibility to advance these opportunities while continuing to return robust capital to shareholders. During the quarter, we increased our 2026 return of capital target to 50% of full-year free cash flow and have returned over $950 million to shareholders year-to-date. Since April 2025, we have repurchased approximately 5% of our shares outstanding. Looking ahead, we remain focused on optimizing our cash flow across the business and allocating capital in a disciplined manner to advance our project pipeline, deliver operational excellence and maximize shareholder value."

Kinross Gold Shares Down 10.1% to $24.84

Kinross Gold is down -10.1%, or -$2.78 to $24.84.

Kinross Gold Raises 2026 Capital Return Target to 50%

Kinross Gold provided an operational, guidance and return of capital update. The company now expects full-year 2026 and 2027 attributable production to be 2%-3% below the low end of previous guidance, with 1.84M-1.86M gold equivalent ounces expected per year. The change to the company's 2026 guidance is concentrated at two smaller assets, La Coipa and Round Mountain, and is the result of extreme weather and operational challenges. Kinross expects Q3 attributable production of approximately 425,000 Au eq. oz. Adjusting the company's 2026 cost guidance as a result of the updated production estimates, attributable production cost of sales is expected to be $1,420-$1,460 per Au eq. oz. sold and attributable all-in sustaining cost is expected to be $1,850-$1,900 per Au eq. oz. sold. Total operating and capital costs for the year remain on track despite higher oil prices. Kinross is increasing its return of capital target from 40% to 50% of free cash flow to shareholders for 2026. Kinross is increasing its return of capital target by 25%, from 40% to 50%, of free cash flow for 2026. To date in 2026, Kinross has returned approximately $800M to shareholders, including approximately $655M in share repurchases. Since 1Q25, Kinross has returned more than $1.5B to shareholders and has repurchased more than 4% of its outstanding shares.