Kinross Gold Corporation Earnings Recaps
Q2 2026
Aug 1, 2026
Kinross Gold's shares declined modestly by 0.5% following the Q2 earnings release, reflecting a market response that found the results largely in line with expectations without clear upside catalysts.
Key takeaways
- Q2 gold production reached 492,000 ounces, driven primarily by Tasiast and Paracatu, which together contributed over half of total output.
- Cost of sales was $1,336 per ounce and all-in sustaining costs totaled $1,821 per ounce, consistent with prior guidance.
- Operating margins remained stable at over $3,100 per ounce, supporting strong free cash flow of $727 million after capital expenditures and taxes.
- Balance sheet strengthened with a record $2.7 billion in cash and $1.9 billion in net cash by quarter end.
- Returned approximately 37% of free cash flow to shareholders year-to-date via dividends and share buybacks, on track for a 40% full year target.
Q3 2025
Nov 5, 2025
Kinross Gold delivered strong third-quarter results, producing 504,000 ounces of gold at a cost of $1,145 per ounce, contributing to record free cash flow of nearly $700 million.
Key takeaways
- Adjusted earnings reached $0.44 per share, supported by an average realized gold price of $3,458 per ounce, yielding margins over $2,300 per ounce.
- The company's balance sheet continues to strengthen, ending Q3 with approximately $1.7 billion in cash and a net cash position of nearly $500 million.
- Kinross is committed to enhancing shareholder returns, planning to exceed its initial capital return commitment of $650 million for the year through increased dividends and share repurchases.
- Key assets, including Paracatu and Tasiast, performed well, significantly contributing to production goals, while operational efficiency remains on track to meet full-year guidance.
- Successful project progression in Curlew, Great Bear, and Lobo-Marte positions Kinross for future growth opportunities.