Kinross announces renewal of NCIB

Rhea-AI Summary

Kinross (TSX: K, NYSE: KGC) renewed its normal course issuer bid to repurchase up to 104,239,211 common shares (up to 10% of the public float) from March 24, 2026 to March 23, 2027. All shares bought will be cancelled.

The company noted 1,197,584,004 shares outstanding (as of March 12, 2026), a public float of 1,042,392,116, daily TSX limits of 1,156,500 shares, and that it repurchased 35,756,550 shares under the prior NCIB. Kinross also established an automatic repurchase plan with its broker.

Positive

• Authorized buyback of 104,239,211 shares (up to 10% of public float)
• All repurchased shares cancelled, potentially improving per-share metrics
• Prior repurchases of 35,756,550 shares indicate ongoing buyback activity

Negative

• Daily TSX limit of 1,156,500 shares may slow repurchase pace
• NCIB is authorisation, not obligation; purchases are discretionary and not guaranteed

Key Figures

NCIB authorization: 104,239,211 shares Shares outstanding: 1,197,584,004 shares Public float: 1,042,392,116 shares +5 more

8 metrics

NCIB authorization 104,239,211 shares Maximum common shares purchasable under renewed NCIB

Shares outstanding 1,197,584,004 shares Common shares outstanding as of March 12, 2026

Public float 1,042,392,116 shares Public float referenced for 10% NCIB limit

NCIB limit as float % 10% Repurchases represent up to 10% of public float

TSX daily limit 1,156,500 shares Maximum daily repurchases on TSX, excluding block purchases

TSX ADV 4,626,000 shares Average daily trading volume for six months ended Feb 28, 2026

Prior NCIB authorization 110,408,573 shares Maximum shares authorized under previous NCIB

Prior NCIB repurchases 35,756,550 shares Aggregate common shares repurchased under prior NCIB

Market Reality Check

Price: $27.42 Vol: Volume 17,452,859 vs 20-d...

high vol

$27.42 Last Close

Volume Volume 17,452,859 vs 20-day average 11,448,897, indicating elevated trading activity. high

Technical Price at 27.42, trading above 200-day MA at 24.73 before the NCIB renewal news.

Peers on Argus

KGC was down 6.61% while key gold peers AU (+4.16%), PAAS (+1.64%), WPM (+1.93%)...

1 Down

KGC was down 6.61% while key gold peers AU (+4.16%), PAAS (+1.64%), WPM (+1.93%) and AGI (+1.69%) were up, suggesting a stock-specific move rather than a sector-wide trend.

Historical Context

5 past events · Latest: Mar 03 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 03	Trade show showcase	Neutral	-8.1%	Korea Ginseng branded presence at Natural Products Expo West 2026.
Feb 18	Dividend increase	Positive	-3.2%	Announced 14% annual dividend increase to $0.16 per share and Q4 dividend.
Feb 18	Earnings results	Positive	-3.2%	Delivered on 2025 guidance with record $2.5B free cash flow and returns.
Jan 22	Earnings date notice	Neutral	+1.4%	Announced timing for 2025 Q4/full-year results and 2026 guidance release.
Jan 15	Project construction	Positive	-0.1%	Approved construction of Phase X, Curlew and Redbird 2 to add 3M ounces.

Pattern Detected

Recent positive capital return and operational updates have often been followed by negative or muted next-day price reactions.

Recent Company History

Over the past few months, Kinross has emphasized shareholder returns and operational strength. On Feb 18, 2026, it reported record free cash flow of $2.5 billion for 2025, a three-year outlook of 2.0 million Au eq. oz. annually, and $1.5 billion returned to debt and equity holders, alongside a 14% annual dividend increase to $0.16 per share. Despite these supportive updates, shares often moved lower afterward, framing today’s NCIB renewal within a pattern of cautious price follow-through.

Market Pulse Summary

This announcement renews Kinross’s normal course issuer bid, authorizing repurchases of up to 104,23...

Analysis

This announcement renews Kinross’s normal course issuer bid, authorizing repurchases of up to 104,239,211 common shares, or 10% of its 1,042,392,116-share public float, between March 24, 2026 and March 23, 2027. All repurchased shares will be cancelled. The program complements prior capital returns, including 35,756,550 shares repurchased under the previous NCIB and a higher dividend, with future activity remaining discretionary and subject to market conditions and management decisions.

Key Terms

normal course issuer bid, public float, average daily trading volume, automatic repurchase plan, +1 more

5 terms

normal course issuer bid financial

"renew its normal course issuer bid (“NCIB”) program."

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

public float financial

"representing up to 10% of the Company’s public float of 1,042,392,116"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

average daily trading volume financial

"25% of the average daily trading volume for the six months ended"

The average daily trading volume is the typical number of shares or units of a security that change hands each trading day, calculated over a set period. It tells investors how active a market is—like average traffic on a road—so higher volume usually means easier, faster trades and smaller price swings when buying or selling, while low volume can make orders harder to fill and cause bigger price moves.

automatic repurchase plan financial

"has entered into an automatic repurchase plan with its designated broker"

An automatic repurchase plan is a pre-set program that lets a company buy back its own shares on a regular, automated schedule rather than making one-off purchases. For investors, it matters because it can steadily reduce the number of shares available, potentially supporting the stock price and boosting per-share metrics, while also signaling management’s view of the company’s value—think of it like a standing order to quietly trim inventory over time.

black-out periods regulatory

"allow for purchases of its common shares during certain pre-determined black-out periods"

A black-out period is a company-imposed window when certain people—typically executives, employees, or directors—are not allowed to buy or sell the company’s stock or exercise stock options. Like a store putting up a “closed” sign before a big announcement, these quiet times reduce the risk of unfair trading on nonpublic information and matter to investors because they affect who can trade, when shares may change hands, and how market activity may be constrained ahead of major news.

AI-generated analysis. Not financial advice.

(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.)

TORONTO, March 19, 2026 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (“Kinross” or the “Company”) (TSX: K, NYSE: KGC) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the notice filed by the Company to renew its normal course issuer bid (“NCIB”) program.

Under the NCIB program, the Company is authorized to purchase up to 104,239,211 of its common shares (out of the 1,197,584,004 common shares outstanding as at March 12, 2026) representing up to 10% of the Company’s public float of 1,042,392,116 common shares, during the period starting on March 24, 2026 and ending on March 23, 2027.

The Company believes that the market price of the common shares may not, from time to time, fully reflect their value and accordingly the purchase of the common shares would be in the best interest of the Company and an attractive and appropriate use of available funds.   Kinross is committed to enhancing shareholder returns through programs such as a share buyback and its quarterly dividend, which are underpinned by the Company’s investment grade balance sheet and strong free cash flow generation from its global portfolio.

Kinross may make purchases, from time to time, through the facilities of the TSX, the New York Stock Exchange (the “NYSE”) and/or alternative Canadian trading systems, if eligible, or by such other means as may be permitted by the TSX and/or NYSE or under applicable law. Daily repurchases on the TSX will be limited to a maximum of 1,156,500 common shares, representing 25% of the average daily trading volume for the six months ended February 28, 2026 (being 4,626,000 common shares), except where purchases are made in accordance with the “block purchase exception” of the TSX rules. Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase. All shares purchased by the Company under the NCIB program will be cancelled. Pursuant to the terms of the previous normal course issuer bid approved by the TSX on March 20, 2025, the Company was authorized to repurchase up to 110,408,573 of its common shares and repurchased an aggregate of 35,756,550 common shares.

Purchases will be made by the Company in accordance with the requirements of the TSX and/or the NYSE and the price which the Company will pay for any such common shares will be the market price of any such common shares at the time of acquisition, or such other price as may be permitted by the TSX and/or the NYSE.

In connection with the NCIB program, the Company has entered into an automatic repurchase plan with its designated broker to allow for purchases of its common shares during certain pre-determined black-out periods, based on Company instructions provided when not in black out, should the Company determine to proceed with purchases under the ASPP. Outside of these pre-determined black-out periods, any repurchases of common shares will be in accordance with management’s discretion, subject to applicable law. Although the Company has a present intention to acquire its common shares pursuant to the NCIB program, the Company will not be obligated to make any purchases under this NCIB.

About Kinross Gold Corporation

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

Media Contact
Samantha Sheffield
Director, Corporate Communications
phone: 416-365-3034
Samantha.Sheffield@Kinross.com

Investor Relations Contact
David Shaver
Executive Vice-President, Investor Relations & Communications
phone: 416-365-2854
InvestorRelations@kinross.com

Cautionary statement on forward-looking information

All statements, other than statements of historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as to the future financial or operating performance of Kinross, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for “safe harbor” under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements contained in this news release, include, but are not limited to, those relating to potential purchases under the Company’s NCIB. The words “anticipate”, “continue”, “estimates”, “expects”, “forecast”, “guidance”, “intends”, “may”, “outlook”, “progress”, “potential”, “prioritize”, or variations of or similar such words and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result and similar such expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates, models and assumptions of Kinross referenced, contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2025, and the Annual Information Form dated March 27, 2025. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: the inaccuracy of any of the foregoing assumptions. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross’ actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross, including but not limited to resulting in an impairment charge on goodwill and/or assets. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by this cautionary statement and those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the “Risk Analysis” section of our MD&A for the year ended December 31, 2025 and the Annual Information Form dated March 27, 2025. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Source: Kinross Gold Corporation

FAQ

How many shares will Kinross (KGC) be allowed to buy back under the 2026 NCIB?

Kinross may repurchase up to 104,239,211 common shares, representing up to 10% of its public float. According to the company, this authorization runs from March 24, 2026 to March 23, 2027 and all shares bought will be cancelled.

What is the effective period and trading limits for Kinross (KGC) share repurchases in 2026?

The NCIB period is March 24, 2026 to March 23, 2027 with daily TSX limits. According to the company, TSX daily purchases are capped at 1,156,500 shares, except for block purchase exceptions.

How many shares had Kinross (KGC) repurchased under the previous NCIB?

Under the prior NCIB, Kinross repurchased an aggregate of 35,756,550 common shares. According to the company, this was out of an authorization to repurchase up to 110,408,573 shares approved March 20, 2025.

Will Kinross (KGC) cancel the shares it buys back under the NCIB?

Yes, all shares repurchased under the NCIB will be cancelled. According to the company, cancellations follow each purchase, which may reduce the number of outstanding shares and affect per-share metrics.

Does the NCIB commit Kinross (KGC) to make share purchases during 2026–2027?

No, the NCIB authorizes purchases but does not obligate the company to buy shares. According to the company, repurchases are discretionary and may be executed via an automatic repurchase plan or at management's direction.