Kinross Gold Corporation (KGC) Announces Financial Results for Q1 2026

Kinross Gold Corporation (NYSE:KGC) is one of the top cheap stocks to buy with the biggest upside potential. Kinross Gold Corporation (NYSE:KGC) announced financial results for fiscal Q1 2026 on April 29, reporting that production in the quarter reached 492,563 gold equivalent ounces (Au eq. oz.). Production cost of sales was $1,397 per Au eq. oz. sold, with attributable production cost of sales of $1,380 per Au eq. oz. sold.

Why Kinross Gold Corp. (KGC) Went Up On Thursday?

Management further reported that operating cash flow for the quarter was $1.139 billion, with record attributable free cash flow of $837.5 million. In addition, margins increased by 92% compared to fiscal Q1 2025 to a record $3,476 per Au eq. oz. sold, and rose 22% quarter-over-quarter, outpacing the rise in the average realized gold price in both comparable periods.

Kinross Gold Corporation (NYSE:KGC) also stated that it is on track to meet its annual guidance and expects to produce 2.0 million Au eq. oz. (+/- 5%) at a production cost of sales per Au eq. oz. sold of $1,360 (+/- 5%) and all-in sustaining cost of $1,730 (+/- 5%) per ounce sold for 2026. It also stated that the total attributable capital expenditures are forecast to be $1,500 million (+/- 5%).

Based in Canada, Kinross Gold Corporation (NYSE:KGC) is involved in the production, exploration, acquisition, and development of gold properties. Its operations are divided into the following business segments: Tasiast, Paracatu, La Coipa, Fort Knox, Round Mountain, Bald Mountain, and Corporate & Other.

While we acknowledge the risk and potential of KGC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KGC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.