Quarterly UpdatesSep 24, 2026, 05:21 PM
Kinross Gold Cuts Production Guidance 2-3%; Boosts Shareholder Returns to 50%
AI Summary
Kinross Gold Corporation announced an operational and return of capital update, revising its 2026 and 2027 production guidance downwards by 2-3% due to weather and operational challenges at La Coipa and Round Mountain. Despite this, the company is increasing its return of capital target to 50% of free cash flow for 2026, reflecting strong cash flow outlook and balance sheet strength. Key operations like Paracatu and Tasiast continue to perform well. The company also provided updated cost guidance and highlighted significant capital returned to shareholders year-to-date.
Key Highlights
- Kinross expects full-year 2026 and 2027 attributable production to be 2% to 3% below previous guidance, at 1.84 to 1.86 million Au eq. oz. per year.
- Attributable production cost of sales expected at $1,420 to $1,460 per Au eq. oz. sold; attributable all-in sustaining cost expected at $1,850 to $1,900 per Au eq. oz. sold.
- Kinross is increasing its return of capital target from 40% to 50% of free cash flow for 2026.
- Third-quarter 2026 attributable production expected at approximately 425,000 Au eq. oz.
- Production guidance revised due to extreme weather and operational challenges at La Coipa and Round Mountain.
- Paracatu and Tasiast operations continue to perform well, expected to produce a combined 1.1 million ounces.
- Kinross has returned approximately $800 million to shareholders year-to-date in 2026, including $655 million in share repurchases.
Price Impact
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