Canada's Kinross Gold Q1 revenue rises 61% on higher gold price

Overview

• Canada gold miner's Q1 revenue rose 61% yr/yr, driven by higher realized gold price

• Adjusted EPS for Q1 more than doubled from a year ago

• Company returned $350 mln to shareholders in 2026 via dividends and buybacks

Outlook

• Kinross expects 2026 production of 2.0 mln Au eq. oz. (+/- 5%)

• Company maintains 2026 cost of sales guidance at $1,360/oz. (+/- 5%) and AISC at $1,730/oz. (+/- 5%)

• Kinross says rising oil prices are not expected to affect full-year cost guidance due to hedging

Result Drivers

• HIGHER GOLD PRICE - Revenue and margins rose as average realized gold price increased sharply yr/yr

• COST PRESSURES - Production cost of sales per ounce rose, mainly due to higher royalty costs from increased gold prices and timing of inventory movements

• OPERATIONAL OPTIMIZATION - Paracatu achieved record recoveries from ongoing processing plant optimization; Tasiast saw higher grades and lower costs qtr/qtr

Company press release: ID:nGNX5Fyq5N

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for Kinross Gold Corp is C$61.94, about 48.5% above its April 28 closing price of C$41.72

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago

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