Kinross Gold Stock Crashes Despite High Gold Prices

Kinross Gold Corporation (NYSE:KGC), one of the world's largest gold miners, saw its stock plummet 12% on September 24, 2026, after cutting its production outlook for 2026 and 2027 due to weather and mining issues at two key mines.

The company cited unusually harsh winter weather at its La Coipa mine in Chile, combined with processing problems, as well as slower-than-expected mining at Round Mountain in Nevada.

As a result of these disruptions, Kinross lowered its gold production forecast by about 8%, while increasing costs to produce each ounce.

The bearish news came despite high gold prices, which typically benefit miners. However, analysts TD and BMO trimmed their targets for KGC, further contributing to the stock's decline.