KGC · Kinross Gold Corporation

Kinross Gold Corporation delivered exceptional financial performance in the first quarter of 2026, driven by a robust gold price environment and disciplined operational execution. The company generated record attributable free cash flow of $837.5 million, representing the fourth consecutive quarterly record. This strong cash generation was underpinned by a 92% year-over-year increase in margins to $3,476 per ounce, which significantly outpaced the rise in the average realized gold price of $4,873 per ounce. Adjusted net earnings more than doubled to $854.1 million, or $0.71 per share, compared to the prior year period. Production totaled 492,563 attributable gold equivalent ounces, a planned 4% decrease from Q1 2025, as higher output from Paracatu was offset by lower production from other assets. The company remains on track to meet its 2026 annual production guidance of 2.0 million ounces. Capital allocation remains a priority, with Kinross returning approximately $350 million to shareholders year-to-date through a combination of share repurchases and dividends, consistent with its target to return 40% of free cash flow. The balance sheet strengthened, with cash and cash equivalents increasing to $2.2 billion and total liquidity reaching approximately $3.9 billion. Development projects, including Great Bear and Lobo-Marte, advanced as planned, positioning the company for future growth.