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Why Is Kinross Gold (KGC) Up 37.6% Since Last Earnings Report?
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A month has gone by since the last earnings report for Kinross Gold (KGC - Free Report) . Shares have added about 37.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Kinross Gold due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Kinross Gold Corporation before we dive into how investors and analysts have reacted as of late.
Kinross’ Q2 Earnings Beat Estimates on Higher Gold Prices
Kinross reported adjusted earnings of 71 cents per share for the second quarter of 2026, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents.
Revenues increased 29.5% year over year to $2.2 billion but missed the consensus estimate of $2.3 billion. Higher realized gold prices supported the sales increase and helped offset lower attributable gold-equivalent production.
Operational Performance
Kinross produced 492,326 attributable gold-equivalent ounces in the reported quarter, down 4% from 512,574 ounces in the prior-year period. Consolidated production totaled 501,341 gold-equivalent ounces. The attributable production figure was below our estimate of 497,365.
The average realized gold price was $4,483 per ounce, up 36.5% from $3,284 per ounce in the second quarter of 2025. The improvement in gold pricing was the primary driver of the company’s year-over-year revenue growth. The figure was lower than our estimate of $4,598 per ounce.
Production cost of sales per gold-equivalent ounce sold increased 25.2% year over year to $1,352. The rise resulted mainly from higher fuel expenses, increased royalties associated with stronger gold prices and elevated labor costs. This was above our estimate of $1,291.
Attributable AISC per gold-equivalent ounce sold rose 22% to $1,821 from $1,493. This was above our estimate of $1,625. Despite higher costs, margin per gold-equivalent ounce sold increased 42.1% to $3,131 from $2,204, reflecting the benefit of significantly higher realized gold prices.
Financials
Cash and cash equivalents were $2.7 billion at the end of the second quarter. Kinross added around $470 million to its cash position during the quarter after returning more than $275 million to shareholders.
Long-term debt was $738.8 million as of June 30, 2026. Capital expenditures increased to $411 million from $306.1 million a year ago due to higher development spending across several growth projects.
Outlook
Kinross remains on track to meet its 2026 annual guidance. The company expects attributable production of 2 million gold-equivalent ounces (+/- 5%).
Production cost of sales is projected at $1,360 per gold-equivalent ounce sold (+/- 5%). Attributable AISC is forecast at $1,730 per ounce sold (+/- 5%).
Total attributable capital expenditures are expected to be $1.5 billion (+/- 5%). The spending plan supports the advancement of Great Bear, Round Mountain Phase X, Curlew, Bald Mountain Redbird and other development initiatives.
The company also remains on track to return 40% of its 2026 free cash flow to shareholders. Kinross repurchased $480 million of shares during the first half and an additional $40 million in July. Including dividends, it had returned approximately $615 million to shareholders year to date as of July 29, 2026.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -13.26% due to these changes.
VGM Scores
At this time, Kinross Gold has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Following the exact same course, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Kinross Gold has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Kinross Gold is part of the Zacks Mining - Gold industry. Over the past month, Newmont Corporation (NEM - Free Report) , a stock from the same industry, has gained 38.2%. The company reported its results for the quarter ended June 2026 more than a month ago.
Newmont reported revenues of $6.12 billion in the last reported quarter, representing a year-over-year change of +15.1%. EPS of $2.10 for the same period compares with $1.43 a year ago.
For the current quarter, Newmont is expected to post earnings of $1.88 per share, indicating a change of +9.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -5.2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Newmont. Also, the stock has a VGM Score of A.
View the Zacks #1 Rank List
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Why Is Kinross Gold (KGC) Up 37.6% Since Last Earnings Report?
A month has gone by since the last earnings report for Kinross Gold (KGC - Free Report) . Shares have added about 37.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Kinross Gold due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Kinross Gold Corporation before we dive into how investors and analysts have reacted as of late.
Kinross’ Q2 Earnings Beat Estimates on Higher Gold Prices
Kinross reported adjusted earnings of 71 cents per share for the second quarter of 2026, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents.
Revenues increased 29.5% year over year to $2.2 billion but missed the consensus estimate of $2.3 billion. Higher realized gold prices supported the sales increase and helped offset lower attributable gold-equivalent production.
Operational Performance
Kinross produced 492,326 attributable gold-equivalent ounces in the reported quarter, down 4% from 512,574 ounces in the prior-year period. Consolidated production totaled 501,341 gold-equivalent ounces. The attributable production figure was below our estimate of 497,365.
The average realized gold price was $4,483 per ounce, up 36.5% from $3,284 per ounce in the second quarter of 2025. The improvement in gold pricing was the primary driver of the company’s year-over-year revenue growth. The figure was lower than our estimate of $4,598 per ounce.
Production cost of sales per gold-equivalent ounce sold increased 25.2% year over year to $1,352. The rise resulted mainly from higher fuel expenses, increased royalties associated with stronger gold prices and elevated labor costs. This was above our estimate of $1,291.
Attributable AISC per gold-equivalent ounce sold rose 22% to $1,821 from $1,493. This was above our estimate of $1,625. Despite higher costs, margin per gold-equivalent ounce sold increased 42.1% to $3,131 from $2,204, reflecting the benefit of significantly higher realized gold prices.
Financials
Cash and cash equivalents were $2.7 billion at the end of the second quarter. Kinross added around $470 million to its cash position during the quarter after returning more than $275 million to shareholders.
Long-term debt was $738.8 million as of June 30, 2026. Capital expenditures increased to $411 million from $306.1 million a year ago due to higher development spending across several growth projects.
Outlook
Kinross remains on track to meet its 2026 annual guidance. The company expects attributable production of 2 million gold-equivalent ounces (+/- 5%).
Production cost of sales is projected at $1,360 per gold-equivalent ounce sold (+/- 5%). Attributable AISC is forecast at $1,730 per ounce sold (+/- 5%).
Total attributable capital expenditures are expected to be $1.5 billion (+/- 5%). The spending plan supports the advancement of Great Bear, Round Mountain Phase X, Curlew, Bald Mountain Redbird and other development initiatives.
The company also remains on track to return 40% of its 2026 free cash flow to shareholders. Kinross repurchased $480 million of shares during the first half and an additional $40 million in July. Including dividends, it had returned approximately $615 million to shareholders year to date as of July 29, 2026.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -13.26% due to these changes.
VGM Scores
At this time, Kinross Gold has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Following the exact same course, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Kinross Gold has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Kinross Gold is part of the Zacks Mining - Gold industry. Over the past month, Newmont Corporation (NEM - Free Report) , a stock from the same industry, has gained 38.2%. The company reported its results for the quarter ended June 2026 more than a month ago.
Newmont reported revenues of $6.12 billion in the last reported quarter, representing a year-over-year change of +15.1%. EPS of $2.10 for the same period compares with $1.43 a year ago.
For the current quarter, Newmont is expected to post earnings of $1.88 per share, indicating a change of +9.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -5.2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Newmont. Also, the stock has a VGM Score of A.