[U.S. Stock Market Volatility] Kinross Gold plunges on September 24th: production downgraded, costs rising, target price lowered

Kinross Gold September 24 Downturn Interpretation

Keywords: production cut, rising costs, target price revision

1. On September 23, 2026, the company lowered its attributable gold equivalent production forecast for 2026 and 2027 to about 1.84 to 1.86 million ounces, which is 2% to 3% lower than the prior guidance floor. La Coipa was affected by extreme weather, and mining, milling, and some sulfide ore recovery rates fell short of expectations.

2. On September 23, 2026, the company adjusted its guidance for 2026 unit sales cost and all-in sustaining cost to approximately USD 1,420 to 1,460 and USD 1,850 to 1,900 per gold equivalent ounce, respectively, as lower production pushed up unit cost expectations.

3. On September 24, 2026, Desjardins lowered Kinross’ target price from CAD 58 to CAD 53, maintaining a buy rating.

(Disclaimer: This content is generated by AI technology based on publicly available information and is for reference only; it does not constitute investment advice.)