Kinross drops as lower output outlook weighs
KGC•Kinross shares fell more than 10% after the company forecast 2026 and 2027 attributable production of about 1.84 million to 1.86 million gold equivalent ounces annually, 2% to 3% below the low end of its previous outlook.
1. Lower production outlook
Kinross said it expects attributable production of about 1.84 million to 1.86 million gold equivalent ounces in both 2026 and 2027. The company cited extreme weather and operational challenges at its La Coipa and Round Mountain mines.
2. Mine disruptions
Unprecedented winter weather at La Coipa disrupted third-quarter mining and milling, reducing mining rates and mill throughput into September, Kinross said. Lower mining rates, grades and recoveries at Round Mountain Phase S also reduced its 2026 and 2027 outlook.
3. Costs and shares
Kinross expects 2026 attributable production costs of about $1,420 to $1,460 per gold equivalent ounce. Shares were down more than 10% at C$34.84 after reaching their lowest level since August; bullion prices also edged lower during the day.
