For questions about this article or underlying research, email help@trefis.com.
Kinross Gold (KGC) stock fell 5.8% on Tuesday, November 10, 2026, while the S&P 500 lost 0.4%. The company released no announcements, earnings reports, or filings around the move, but all three stocks on its Trefis peer list fell during the same session. What was the market reacting to that day, and does it affect Kinross’s own business?
What Else Happened On The Day Kinross Gold Fell?
A hot October inflation report unsettled markets on November 10. Bonds fell sharply as the inflation data fed fears of a large Fed rate hike, and following the release, Deutsche Bank said it expects the Fed to raise rates in January 2027.
Inflation was already part of Kinross’s own cost outlook before that report. On its October 29 call, management said it expects inflation on its costs in 2027 to be similar to 2026’s, about 5%, and that it is watching where diesel and oil prices go. Labor costs are rising too: management put average labor inflation at around 5% to 6%, typically higher in the U.S., including Nevada. Kinross has some protection on fuel, since about half of the oil cost component of the diesel price it pays in 2027 is hedged.
Kinross Gold’s Peers Fell Too
None of the three stocks on its peer list fell as far as Kinross. Agnico Eagle Mines lost 5.1%, Newmont 4.2% and Gold.com 2.2% that session. The fund that tracks the wider materials sector, XLB, slipped just 0.2%. Kinross moved with its peers rather than with the wider sector.
Where Does Kinross Gold Stock Stand Now?
A drop of this size is not rare for Kinross. The stock recorded 12 falls at least this large in the prior 365 days, and its last move this big was a 7.5% rise on November 4.
Over the past twelve months the stock lost 11.0%, while the S&P 500 returned 13.1%. Most of the slide came in the past six months, when Kinross lost 32.0% against a 2.2% gain for the S&P 500. That leaves the stock much nearer its lowest close of the past year, $19.93 on November 3, than its highest, $38.07 on January 28, 2026. It closed at $21.53 on November 10. On sales, Kinross is priced close to the market, at 3.0 times sales against 3.2 times for the S&P 500. On earnings it is far cheaper, at 8.0 times against 22.3 times for the index.
The company’s next report covers the fourth quarter of 2026. Full-year gold production, measured against management’s guidance of 1.84 million to 1.86 million ounces, is the figure to watch in that report. Management said it will provide detailed 2027 production, cost, and capital guidance with those year-end results.