Kinross drops as lower output outlook weighs

By Reuters News

** Shares of Canadian gold miner Kinross Gold K.TO down over 10% at C$34.84, after hitting its lowest since August

** Co said late on Wednesday it expects FY2026 and FY2027 attributable production of about 1.84 million to 1.86 million gold equivalent ounces annually, 2% to 3% below the low end of its previous outlook

** Says lower outlook reflects extreme weather and operational challenges at its smaller La Coipa and Round Mountain mines

** Unprecedented winter weather at La Coipa disrupted third-quarter mining and milling activities, reducing mining rates and mill throughput into September, Kinross says

** It adds, lower mining rates, grades and recoveries at Round Mountain Phase S reduce the company's 2026 and 2027 production outlook

** Expects 2026 attributable production costs of about $1,420-$1,460 per gold equivalent ounce

** Bullion prices also inched lower in the day on higher oil prices and hawkish Fed outlook GOL/

** Including session's move, K down 9.7% YTD

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