CSN Mineracao stock faces lower 2026 output after cost reset

Published on 10/05/2026 at 19:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CSN Mineracao stock is priced at BRL 5.00 on October 5, while the miner cuts 2026 volume guidance. Second-quarter revenue reached BRL 3.61 billion.

CSN Mineracao, BRCMINACNOR2, Illustration mit AI erstellt.

CSN Mineracao (BRCMINACNOR2) was trading at BRL 5.00 on B3 on October 5, 2026 at 1:54 p.m. BRT, up 0.60 percent on the session and valued at BRL 27.2 billion. The central issue is a September 29 guidance reset that puts 2026 iron ore volumes at 39 million to 41 million tons, compared with 45 million to 47 million tons previously.

Production guidance moves lower

According to Valor on September 29, 2026, CSN Mineracao reduced its 2026 production and third-party purchase forecast after temporarily reducing lower-quality ore processing at the Pires dry-processing plant in Ouro Preto.

The midpoint of the new range is 40 million tons, down from 46 million tons previously. That represents a 13.0 percent reduction in the midpoint and gives the volume revision a direct bearing on the miner's second-half revenue and cash generation.

Costs rise as freight pressures margins

The same September 29 company update raised the 2026 C1 cash cost forecast to USD 25 to USD 26 per ton from USD 22 to USD 23.50. The new midpoint of USD 25.50 is 12.1 percent above the former midpoint of USD 22.75, while higher freight costs make lower-quality ore less attractive.

Investing.com reports that the latest quarter, ended June 30, 2026, generated BRL 3.61 billion in revenue, BRL 219.65 million in net income and diluted EPS of BRL 0.04. Revenue declined from BRL 3.70 billion in the first quarter, while net income fell from BRL 222.37 million.

Stock stays below yearly high

For investors, the combination of lower volume guidance and higher unit costs matters more than the modest intraday gain. The share price was BRL 5.00 on B3 at 1:54 p.m. BRT, with a session range of BRL 4.96 to BRL 5.30 and a 52-week range of BRL 4.08 to BRL 7.07.

CMIN3 traded 10,578,500 shares by that timestamp. The current price is 29.1 percent below the 52-week high, leaving the revised operating targets as the key measure for the next company update.