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Why Kinross Gold Stock Is Crashing Today
Key Points
Kinross updated its 2026 guidance after the market closed yesterday.
Shares of Kinross are trading at a premium to their historic valuation.
Falling nearly 10% from the start of the month through the end of trading yesterday, Kinross Gold (NYSE: KGC) stock hasn't glittered very brightly this September. And the bearish sentiment toward the gold producer is hardly relenting today after the company updated its 2026 financial guidance.
As of 3:12 p.m. ET, shares of Kinross Gold are down 12.7%.
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Management slashes 2026 gold-equivalent ounces production from 2 million ounces to about 1.85 million ounces
After the market closed yesterday, Kinross provided an updated 2026 forecast, including revisions to its mineral production and cost guidance.
Whereas it had originally projected 2026 mineral production of about 2 million gold-equivalent ounces, Kinross now expects to produce 1.84 million to 1.86 million gold-equivalent ounces in 2026 -- as well as 2027. The company attributes the lower-than-expected production to adverse weather that hindered operations at La Coipa in Chile and lower mining rates at the Round Mountain asset in Nevada.
In addition, Kinross expects higher costs in 2026 than originally anticipated due to lower mineral production. Management now projects 2026 attributable all-in sustaining cost (AISC) per gold-equivalent ounce sold of $1,850 to $1,900, up from the initial forecast of $1,730.
What's a gold bug to do?
With Kinross anticipating a less lustrous 2026 than originally thought and shares trading at about 7.2 times operating cash flow -- a premium to their five-year average cash flow multiple of 6.5 -- investors will want to look elsewhere for gold investment opportunities. Fortunately, there are plenty of more alluring gold stocks to consider right now.
Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.