Scotiabank cuts target for Kinross Gold stock from USD 41.00 to USD 39.00

Scotiabank cut its price target for Kinross Gold stock from USD 41.00 to USD 39.00 on September 24, 2026, while retaining a sector outperform rating, according to MarketBeat. The move followed Kinross Gold's reduced production outlook for 2026 and 2027.

Production guidance moves lower

According to Kinross Gold in its September 23, 2026 operational update, attributable production is expected at 1.84 million to 1.86 million gold equivalent ounces in both 2026 and 2027. That is 2.00 percent to 3.00 percent below the low end of the previous guidance.

The company attributed the revision to extreme weather and operational challenges at La Coipa in Chile and Round Mountain in Nevada. Kinross still expects Paracatu and Tasiast to produce a combined 1.10 million ounces in 2026, supporting a portfolio comparison between the affected assets and its two largest operations.

Cash returns offset operating pressure

Kinross raised its 2026 return-of-capital target to 50.00 percent of free cash flow from 40.00 percent in the same September 23 update. The company also expected third-quarter 2026 production of 425,000 gold equivalent ounces, giving investors a specific operating figure to compare with the revised annual outlook.

MarketBeat reported that Kinross generated USD 2.22 billion of revenue and USD 0.71 adjusted earnings per share in the second quarter of 2026. Revenue increased 29.50 percent year over year, while earnings per share exceeded consensus by USD 0.05, according to MarketBeat. The comparison shows why analysts can retain constructive ratings while cutting forecasts after the production update.

Results date sets the next test

Kinross will release its financial statements and operating results for the third quarter of 2026 on October 28, 2026, after market close, followed by a conference call on October 29, 2026, according to Finviz. The report will test whether quarterly production can approach the 425,000-ounce estimate while the company manages higher costs at the affected mines.

The Lang & Schwarz prior close was EUR 21.16 on October 5, 2026. Kinross maintains listings on the New York Stock Exchange under KGC and the Toronto Stock Exchange under K, with market capitalization of USD 28.2 billion as of October 6, 2026 and a primary-exchange 52-week range of USD 22.01 to USD 39.11.

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