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Kinross Gold Q1 Earnings and Sales Beat on Higher Gold Prices
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Key Takeaways
KGC Q1 profit jumped to $843M from $368M, with adjusted EPS of 71 cents beating estimates.
Revenue rose 61% to $2.41B, driven by a 71% surge in average realized gold prices.
Production dipped 4% while costs climbed, but margins nearly doubled to $3,476 per ounce.
Kinross Gold Corporation (KGC - Free Report) reported a profit of $843 million or 70 cents per share for the first quarter of 2026. The figure increased from a profit of $368 million or 30 cents per share recorded in the year-ago quarter.
KGC reported adjusted earnings of 71 cents per share, up from the prior-year quarter’s figure of 30 cents. The bottom line beat the Zacks Consensus Estimate of 68 cents.
Revenues rose roughly 61% year over year to $2,407.7 million in the first quarter. The figure beat the Zacks Consensus Estimate of $2,174 million. The rise is attributed to a higher average realized gold price.
Kinross Gold Corporation Price, Consensus and EPS Surprise
The company produced attributable 492,563 gold equivalent ounces in the reported quarter, down around 4% year over year. Consolidated production was 500,941 ounces. The attributable production figure missed our estimate of 513,649.
Average realized gold prices were $4,873 per ounce in the quarter, up around 71% from the year-ago quarter’s tally. The figure beat our estimate of $4,239 per ounce.
The production cost of sales per gold equivalent ounce was $1,397, up 34% from the prior-year quarter’s levels. This was above beat our estimate of $1,244. All-in sustaining cost per gold-equivalent ounce sold rose nearly 28% year over year to $1,732. This was above surpassed our estimate of $1,586.
Margin per gold equivalent ounce sold was $3,476 in the quarter, up from the prior-year quarter’s $1,814, representing growth of roughly 92%.
KGC’s Financials
Cash and cash equivalents were $2,185 million at the end of the quarter, up from $1,742.3 million at the end of the prior quarter. Long-term debt was $738.5 million at the end of the quarter, essentially flat sequentially unchanged from $738.2 million at the end of 2025.
KGC’s Outlook
Kinross remains on track to meet its 2026 annual guidance. The company expects to produce 2 million gold equivalent ounces (+/- 5%) on an attributable basis in 2026, with a production cost of sales per gold equivalent ounce sold of $1,360 (+/- 5%) and an all-in sustaining cost of $1,730 (+/- 5%) per ounce sold. Total attributable capital expenditures are forecast to be $1,500 million (+/- 5%).
KGC’s Price Performance
Kinross’ shares have surged 90.1% in the past year compared with an 63% rise in the industry.
Image Source: Zacks Investment Research
KGC’s Zacks Rank & Key Picks
KGC currently carries a Zacks Rank #3 (Hold).
Some Better-ranked stocks worth a look in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , Aris Mining Corporation (ARIS - Free Report) , and Hawkins, Inc. (HWKN - Free Report) .
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present.
Aris Mining is slated to report quarterly results on May 6. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, indicating 318.75% year-over-year growth. ARIS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 77 cents per share. HWKN currently sports has a Zacks Rank #2.
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Kinross Gold Q1 Earnings and Sales Beat on Higher Gold Prices
Key Takeaways
Kinross Gold Corporation (KGC - Free Report) reported a profit of $843 million or 70 cents per share for the first quarter of 2026. The figure increased from a profit of $368 million or 30 cents per share recorded in the year-ago quarter.
KGC reported adjusted earnings of 71 cents per share, up from the prior-year quarter’s figure of 30 cents. The bottom line beat the Zacks Consensus Estimate of 68 cents.
Revenues rose roughly 61% year over year to $2,407.7 million in the first quarter. The figure beat the Zacks Consensus Estimate of $2,174 million. The rise is attributed to a higher average realized gold price.
Kinross Gold Corporation Price, Consensus and EPS Surprise
Kinross Gold Corporation price-consensus-eps-surprise-chart | Kinross Gold Corporation Quote
KGC’s Operational Performance
The company produced attributable 492,563 gold equivalent ounces in the reported quarter, down around 4% year over year. Consolidated production was 500,941 ounces. The attributable production figure missed our estimate of 513,649.
Average realized gold prices were $4,873 per ounce in the quarter, up around 71% from the year-ago quarter’s tally. The figure beat our estimate of $4,239 per ounce.
The production cost of sales per gold equivalent ounce was $1,397, up 34% from the prior-year quarter’s levels. This was above beat our estimate of $1,244. All-in sustaining cost per gold-equivalent ounce sold rose nearly 28% year over year to $1,732. This was above surpassed our estimate of $1,586.
Margin per gold equivalent ounce sold was $3,476 in the quarter, up from the prior-year quarter’s $1,814, representing growth of roughly 92%.
KGC’s Financials
Cash and cash equivalents were $2,185 million at the end of the quarter, up from $1,742.3 million at the end of the prior quarter. Long-term debt was $738.5 million at the end of the quarter, essentially flat sequentially unchanged from $738.2 million at the end of 2025.
KGC’s Outlook
Kinross remains on track to meet its 2026 annual guidance. The company expects to produce 2 million gold equivalent ounces (+/- 5%) on an attributable basis in 2026, with a production cost of sales per gold equivalent ounce sold of $1,360 (+/- 5%) and an all-in sustaining cost of $1,730 (+/- 5%) per ounce sold. Total attributable capital expenditures are forecast to be $1,500 million (+/- 5%).
KGC’s Price Performance
Kinross’ shares have surged 90.1% in the past year compared with an 63% rise in the industry.
KGC’s Zacks Rank & Key Picks
KGC currently carries a Zacks Rank #3 (Hold).
Some Better-ranked stocks worth a look in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , Aris Mining Corporation (ARIS - Free Report) , and Hawkins, Inc. (HWKN - Free Report) .
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present.
Aris Mining is slated to report quarterly results on May 6. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, indicating 318.75% year-over-year growth. ARIS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 77 cents per share. HWKN currently sports has a Zacks Rank #2.