Kinross Gold Corporation (KGC) reported third-quarter 2026 metal sales of $1,774.7 million, down 2% year over year, as total gold-equivalent production fell 17% to 432,368 ounces. Net earnings attributable to common shareholders were $583.2 million, comparable with the prior-year quarter; adjusted net earnings were $591.3 million, up 12%.
For the first nine months, metal sales rose 28% to $6,420.5 million and net earnings attributable to common shareholders rose 53% to $2,270.4 million. Net cash flow provided from operating activities increased 14% to $2,999.8 million, while capital expenditures rose 37% to $1,133.8 million. The average realized gold price was $4,549 per ounce, up 42%. Third-quarter net cash flow provided from operating activities fell 30% to $714.4 million.
As of September 30, 2026, cash and cash equivalents were $2,638.4 million. Kinross said it remained on track to meet revised 2026 attributable production guidance of 1.84 million to 1.86 million gold-equivalent ounces, attributable production cost of sales per equivalent ounce sold of $1,420 to $1,460, and attributable all-in sustaining cost per equivalent ounce sold of $1,850 to $1,900.
Kinross Gold Corporation (KGC) reported attributable production of 424,693 gold-equivalent ounces in Q3 2026, versus 503,862 a year earlier. Revenue was $1,774.7 million versus $1,802.1 million. Net earnings attributable to common shareholders were $583.2 million; adjusted net earnings were $591.3 million, or $0.50 per share, versus $529.6 million and $0.44. The average gold price was $4,249 per ounce, up 23%, and margins rose 19% to $2,747 per ounce.
Operating cash flow was $714.4 million versus $1,024.1 million, and attributable free cash flow was $281.3 million versus $686.7 million; Kinross cited sales timing and higher capital spending. It raised its 2026 return-of-capital commitment from 40% to 50% of free cash flow and had returned over $950 million year-to-date as of October 28, 2026. A $0.04 quarterly dividend is payable December 3, 2026, to shareholders of record November 19. S&P upgraded Kinross' issuer and unsecured-debt ratings to BBB from BBB-, with a stable outlook.
Great Bear, Round Mountain Phase X and Curlew development advanced; Redbird 1 poured first gold in early October, and Round Mountain Phase X production is planned for 2028. Two business-partner employees died following separate Bald Mountain safety incidents in September; Kinross held company-wide Safety Stand Downs.
Kinross Gold Corporation (KGC) declared a third-quarter 2026 dividend of US$0.04 per common share. The dividend is payable December 3, 2026, to shareholders of record at the close of business on November 19, 2026.
Kinross Gold Corporation will release its third-quarter 2026 financial statements and operating results on October 28, 2026, after market close. The company will discuss the results on a conference call and audio webcast on October 29, 2026, at 8:00 a.m. EDT, followed by a question-and-answer session. The webcast will be available on a listen-only basis, and an audio replay will be available for up to 14 days after the call.
Kinross Gold Corporation (KGC) now expects full-year 2026 and 2027 attributable production of approximately 1.84 to 1.86 million gold equivalent ounces per year, 2% to 3% below the low end of previously disclosed guidance. Third-quarter 2026 attributable production is expected to be approximately 425,000 Au eq. oz. Updated 2026 attributable production cost of sales is expected at $1,420 to $1,460 per Au eq. oz. sold, and attributable all-in sustaining cost at $1,850 to $1,900 per Au eq. oz. sold.
The revised outlook reflects extreme winter weather and operating challenges at La Coipa, along with lower mining rates, grades and recoveries at Round Mountain. Kinross raised its 2026 return-of-capital target from 40% to 50% of free cash flow. To date in 2026, it has returned approximately $800 million to shareholders, including approximately $655 million in share repurchases; since the first quarter of 2025, it has returned more than $1.5 billion and repurchased more than 4% of its outstanding shares. Paracatu and Tasiast are expected to produce a combined 1.1 million ounces for the fifth consecutive year.
Kinross Gold Corporation reported that S&P Global Ratings has upgraded its long-term issuer credit rating and unsecured debt rating to ‘BBB’ from ‘BBB-’, with a stable outlook. S&P cited meaningfully improved credit measures supported by solid cash flow and debt reduction, and expects Kinross to maintain a strong net cash position, a competitive cost profile, and a project pipeline that supports steady production and earnings diversity.
Management highlighted an excellent balance sheet, including a net cash position of $1.9 billion and total liquidity of approximately $4.4 billion as of June 30, 2026. The company has returned $1.4 billion to shareholders since January 2025, while continuing to pursue operational and development goals under a disciplined financial strategy across its gold mining operations in the United States, Brazil, Mauritania, Chile, and Canada.
Kinross Gold Corporation reported significantly stronger results for the three and six months ended June 30, 2026, as higher gold prices more than offset slightly lower production volumes.
In the second quarter of 2026, metal sales rose 29% to $2,238.1 million and net earnings attributable to common shareholders increased to $844.2 million, or $0.71 per share, driven by a 37% increase in the average realized gold price to $4,483 per ounce. Production cost of sales grew 19% to $674.7 million, and per‑ounce metrics such as attributable all‑in sustaining cost per equivalent ounce sold rose 22% to $1,821 amid higher fuel, royalty, labour and reagent costs.
For the first six months of 2026, metal sales were $4,645.8 million and net earnings reached $1,687.2 million, or $1.41 per share. Net cash flow from operating activities increased to $2,285.4 million and attributable free cash flow to $1,564.3 million, supporting cash and cash equivalents of $2,656.4 million alongside elevated capital expenditures on projects including Great Bear, Round Mountain Phase X, Bald Mountain Redbird, Curlew and Lobo‑Marte. Management states Kinross is on track to meet its 2026 production, cost and capital expenditure guidance.
Kinross Gold Corporation reported strong Q2 2026 results, with revenue of $2,238.1 million and net earnings of $844.2 million, or $0.71 per share, alongside an average realized gold price of $4,483 per ounce.
Attributable production was 492,326 gold equivalent ounces, down 4% year-over-year, but higher prices and disciplined cost management lifted margins per ounce by 42% to $3,131. Attributable free cash flow reached $726.8 million and operating cash flow $1,145.9 million. Cash and cash equivalents rose to $2.7 billion and net cash to $1.9 billion, while over $275 million was returned to shareholders in Q2 and more than $600 million year-to-date through buybacks and dividends. Guidance for 2026 production of 2.0 million attributable gold equivalent ounces and cost metrics was reaffirmed, and Kinross highlighted progress on Lobo-Marte, Great Bear and its U.S. development projects.
Kinross Gold Corporation is advancing its Lobo-Marte gold project in Chile, updating the 2021 feasibility study economics for inflation and execution refinements. The heap leach project has an initial operating life of about 15 years with expected life-of-mine production of approximately 4.6 million ounces of gold, averaging about 350,000 ounces per year at steady state. Estimated all-in sustaining cost is roughly $1,000 per ounce, supported by an average processed grade of 1.3 g/t and a low strip ratio of 2.0:1.
At a $4,100/oz gold price, Lobo-Marte shows an estimated NPV (5%) of $4.3 billion, an IRR of 26% and a payback period of 2.3 years, with initial capital of about $1.8 billion planned to be self-funded over three years. Proven and probable reserves total about 6.7 million ounces, with additional Measured & Indicated and inferred resources providing expansion potential. The Environmental Impact Assessment was accepted for review by Chile’s SEA in the second quarter of 2026, and first gold production is targeted for the early 2030s.
Kinross Gold Corporation’s board declared a quarterly cash dividend of US$0.04 per common share for the second quarter of 2026. The dividend will be paid on September 3, 2026 to shareholders of record at the close of business on August 20, 2026.
The dividend qualifies as an “eligible dividend” for Canadian income tax purposes. Dividends paid to investors outside Canada will be subject to Canadian non-resident withholding taxes. Kinross is a Canadian-based senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada.