Kinross Gold Cuts Production Guidance and Shares Drop Over 12%
Kinross Gold (NYSE: KGC) shares fell over 12% following the company's announcement of a downward revision to its 2026 gold-equivalent production guidance. Originally projecting around 2 million ounces, Kinross now expects between 1.84 and 1.86 million ounces due to operational challenges at La Coipa in Chile and lower mining rates at Round Mountain in Nevada. The company also raised its projected all-in sustaining cost (AISC) per gold-equivalent ounce sold for 2026, from $1,730 to between $1,850 and $1,900. These adjustments have led investors to reassess the stock's valuation, which is currently trading at a premium compared to its historical cash flow multiple. With shares underperforming this month due to these developments, analysts suggest that investors may want to explore other gold stocks for better opportunities.
Tickers: $KGC