Kinross drops as lower output outlook weighs

Kinross Gold

24/09/2026 16:04

** Shares of Canadian gold miner Kinross Gold K.TO down over 10% at C$34.84, after hitting its lowest since August
** Co said late on Wednesday it expects FY2026 and FY2027 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
** Says lower outlook reflects extreme weather and operational challenges at its smaller La Coipa and Round Mountain mines
** Unprecedented winter weather at La Coipa disrupted third-quarter mining and milling activities, reducing mining rates and mill throughput into September, Kinross says
** It adds, lower mining rates, grades and recoveries at Round Mountain Phase S reduce the company's 2026 and 2027 production outlook
** Expects 2026 attributable production costs of about $1,420-$1,460 per gold equivalent ounce
** Bullion prices also inched lower in the day on higher oil prices and hawkish Fed outlook GOL/
** Including session's move, K down 9.7% YTD   

(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))