Canada's Kinross Gold Q1 revenue rises 61% on higher gold price

Kinross Gold

29/04/2026 22:15

Overview

Canada gold miner's Q1 revenue rose 61% yr/yr, driven by higher realized gold price

Adjusted EPS for Q1 more than doubled from a year ago

Company returned $350 mln to shareholders in 2026 via dividends and buybacks

Outlook

Kinross expects 2026 production of 2.0 mln Au eq. oz. (+/- 5%)

Company maintains 2026 cost of sales guidance at $1,360/oz. (+/- 5%) and AISC at $1,730/oz. (+/- 5%)

Kinross says rising oil prices are not expected to affect full-year cost guidance due to hedging

Result Drivers

HIGHER GOLD PRICE - Revenue and margins rose as average realized gold price increased sharply yr/yr

COST PRESSURES - Production cost of sales per ounce rose, mainly due to higher royalty costs from increased gold prices and timing of inventory movements

OPERATIONAL OPTIMIZATION - Paracatu achieved record recoveries from ongoing processing plant optimization; Tasiast saw higher grades and lower costs qtr/qtr

Company press release: ID:nGNX5Fyq5N

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Metal Sales
$2.41 bln
Q1 EPS
$0.70
Q1 Adjusted Net Income
$854.10 mln
Q1 Adjusted Operating Cash Flow
$1.13 bln
Q1 Capex
$283.20 mln
Q1 Free Cash Flow
$837.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Kinross Gold Corp is C$61.94, about 48.5% above its April 28 closing price of C$41.72

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)