What Is Behind The Move In Kinross Stock?

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Shares of Kinross Gold (KGC) fell 6.0% on Thursday, October 29, 2026, while the S&P 500 slipped 0.3%. The drop came the day after Kinross reported third-quarter results, posting adjusted earnings per share above estimates but revenue below them. All three of its peers fell during the same session, though by less. With one line ahead of estimates and the other behind, what did the third quarter actually show?

What Did Kinross Report For Its Third Quarter?

Kinross reported adjusted earnings per share of $0.50 for the quarter, against estimates of $0.46. Revenue came in at $1.77 billion, below consensus estimates of $1.94 billion

The company also produced 425,000 ounces but sold only 410,000. Management said the difference came down to when the ounces were sold, and that what was left unsold at the end of the quarter was sold in early October. That gap of 15,000 ounces is about 3.5% of output, while revenue was about 10% below estimates. Working capital outflows that came mainly from larger short-term stockpiles held back free cash flow as well, and management called those outflows a matter of timing.

For the full year, management said Kinross is on track for its updated 2026 production guidance of 1.84 million to 1.86 million ounces. That range was lowered in September from about 2 million ounces, the figure management gave on its July call. Management said operations have stabilized at La Coipa and Round Mountain, the two sites weighing on near-term production, though La Coipa will still hold back output in 2027 as well as 2026.

Did Kinross Fall Further Than Its Peers?

Yes. Kinross fell with its peers, but further than all three of them, including Barrick Gold. Agnico Eagle Mines dropped 3.9%, while Newmont and Barrick Gold fell by less, at 1.9% and 1.3%.

The wider materials sector moved the other way, with XLB, the SPDR sector fund for materials, up 1.3%. Gold itself fell, with the SPDR Gold Shares fund (GLD) down 1.3% over the same two closes.

Where Kinross Stock Stands Now

A fall of this size has happened before. Kinross had nine falls at least this large in the prior 365 days. Its latest move this large in either direction was a 7.2% rise on October 15.

The $21.60 close was the stock’s lowest in the past year, against a high close of $38.07 on January 28, 2026. Over the twelve months to October 29, Kinross shares lost 5.9% including dividends, while the S&P 500 gained 13.3%. The shares have lost 28.4% since April 30, and the fall continued into October, with a 10.3% loss since the end of September.

Free cash flow is the figure to watch when Kinross reports its fourth-quarter 2026 results, because management said part of the third quarter’s working capital outflow will likely swing back. Reported free cash flow was $275 million in the third quarter, down from $735 million in the second.

How To Act On KGC?

Now you know Kinross Gold better. Our purpose is to inform you so you can decide for yourself, and acting on one stock, in either direction, carries its own risk.

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