Q2 2026 Kinross Gold Corp Earnings Call Transcript

Jul 30, 2026 / 12:00 PM GMT

Release Date Price: C$32.85 (+2.02%)

Transcript

Key Points

Positve

Kinross Gold Corp (KGC) delivered a strong Q2 with 492,000 ounces of production and over $725 million in free cash flow, positioning it well for full-year guidance.
The company maintains a robust balance sheet with $2.7 billion in cash and $1.9 billion in net cash, enabling continued capital returns.
Kinross Gold Corp (KGC) is advancing high-quality growth projects like Great Bear and Lobo Marte, with Lobo Marte showing strong economics (26% IRR, $4.3 billion NPV at $4,100/oz gold).
Operational efficiencies and cost management initiatives, including AI and machine learning, are offsetting inflationary pressures and keeping costs within guidance.
Shareholder returns remain a priority, with $1.4 billion returned since 2025 through buybacks and dividends, targeting 40% of free cash flow.

Negative

Costs are expected to be modestly higher in the second half of 2026 due to a greater contribution from higher-cost US operations.
Round Mountain production is currently impacted by higher waste mining and lower-grade ore during the Phase S stripping, with a ramp-up expected later in the year.
Inflationary pressures persist, particularly in power costs in Alaska and tight labor markets in Nevada, though they remain within guidance.
The Lobo Marte project's initial capital estimate of $1.8 billion reflects inflation since 2021, and detailed engineering may reveal further cost increases.
Permitting for the Great Bear main project remains a key risk, with a tight timeline requiring impact assessment approval by spring 2027 to maintain targeted first production in late 2029.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

K.TO - Kinross Gold Corp
Q2 2026 Kinross Gold Corp Earnings Call
Jul 30, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for staying, welcome to the Kinross Gold second quarter 2026 results conference call and webcast.

All lines have been placed on mute to prevent any background noise.

After the speaker's remarks, there will be a question-and-answer session, if you'd like to ask a question during this time, simply press star, followed by the number 1 in your telephone keypad, thank you, I now like to turn the call over to David Sha, Vice President, you may begin.

Thank you and good morning.

In the room with us today on the call, we have Paul Rollinson, CEO, and from the Kin Ross Senior Leadership team, Andrea Freeborough, Rod Schimper.

Will Dunford.

Jeff Gold.

And Bernard Vassals, our

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