Kinross Gold cuts output, boots shareholder payout - The Northern Miner

AI desk brief

Kinross cut its 2026-27 attributable gold-equivalent output guidance to 1.84-1.86Moz a year from 1.9-2.1Moz, about 8% below the prior midpoint, after weather and metallurgical issues at La Coipa and weaker mining performance at Round Mountain. Full-year AISC is now guided at $1,850-$1,900/oz, up from $1,730, while Q3 output is seen at about 425koz.

The company lifted its 2026 shareholder return target to 50% of free cash flow from 40% and has returned about $800m so far this year, including $655m of buybacks. Analysts flagged the update as negative but concentrated at the two mines, with Scotiabank and BMO trimming targets while keeping positive ratings.