$28.07
−1.47%Research · Sep 3, 2026
[KGC] Kinross Gold Thesis 2026: Two Million Ounce Production Unlocks Strong Free Cash Flow
Kinross Gold FY25 (Dec 31, 2025) at $7.17B revenue (+39%). NI $2.43B (+156%); EPS $1.99 (+158%). Production over 2M ounces; achieved cost guidance. Margins +66% vs +43% gold price. FCF $2.5B record. Buyback initiated $-611M. Total debt cut to $778M (-$674M YoY). FY26 guide: 2M oz production (490-510K/qtr), cost of sales $13.60/oz, AISC $17.30/oz at $4,500 gold.