Kinross Gold Corporation Q3 2026 Earnings Recap

Kinross shares fell 12.4% after earnings, with the likely pressure point the reduced full-year production outlook: management confirmed guidance of 1.84–1.86 million ounces after updating expectations for La Coipa and Round Mountain. Q3 production and costs were in line with that revised plan, but the transcript does not identify the market’s specific reason for the selloff.

Key Takeaways

• Q3 production was 425,000 ounces; cost of sales was $1,490 per ounce and all-in sustaining cost was $1,950 per ounce.
• Adjusted earnings were $0.50 per share and adjusted operating cash flow was $831 million. Attributable adjusted free cash flow was $391 million excluding working-capital outflows.
• Cash reached $2.6 billion, with $1.9 billion in net cash. Kinross raised its shareholder-return commitment from 40% to 50% of full-year free cash flow.
• The company repurchased 8.6 million shares in Q3 and reported more than $950 million returned to shareholders year to date.
• Management said Great Bear remains on track for first production in late 2029; Lobo Marte is targeting first production in the early 2030s.