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4 Gold Mining Stocks Poised to Outshine Q1 Earnings Estimates
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The Zacks Mining – Gold industry is housed within the broader Zacks Basic Materials sector. Basic Materials is among the Zacks sectors that are expected to see a rise in earnings for the first quarter. Overall earnings for the space are projected to increase 17.7% on 13.9% higher revenues, per the latest Earnings Preview.
Gold miners’ first-quarter results are likely to show benefits from higher gold prices, along with efforts to improve operating efficiency and cut costs. We have handpicked four industry players, Barrick Mining Corporation (B - Free Report) , Kinross Gold Corporation (KGC - Free Report) , Centerra Gold Inc. (CGAU - Free Report) and IAMGOLD Corporation (IAG - Free Report) , which are set to beat earnings estimates this time.
How Have Things Shaped Up for These Companies?
Gold entered 2026 with strong momentum after surging 65% in 2025. Heightened U.S.-Iran tensions, a weaker greenback and concerns surrounding the Federal Reserve’s independence propelled bullion to record levels, with prices surging to nearly $5,600 per ounce in late January. However, heavy profit-booking and a recovery in the U.S. dollar led to a brief correction, dragging gold below $4,900 per ounce.
The yellow metal regained traction early last month, climbing above $5,400 per ounce on March 2 as safe-haven demand jumped following joint U.S.-Israel strikes on Iran. Later in March, a stronger dollar, inflation worries tied to rising oil prices and the Fed’s hawkish tone weighed on sentiment, pulling gold down to nearly $4,400 per ounce on March 26. Gold later recovered to end the month above $4,600 per ounce, though it still finished March 12% lower. Despite the decline, gold prices ended the first quarter roughly 7% higher.
Stronger gold prices likely provided a tailwind for gold miners’ first-quarter performance. However, inflationary pressure on input costs, especially labor, fuel and electricity, is expected to have pushed mining costs higher and weighed on results.
Meanwhile, miners remain focused on streamlining operations by cutting operating and capital expenses, improving efficiency at existing mines, reducing debt, divesting non-core assets and prioritizing higher-grade assets. Several companies have also implemented measures to lower all-in sustaining costs, a key industry metric. These efforts are expected to have supported profit margins in the first quarter.
How to Pick Winners?
Given the large number of players operating in the gold mining space, picking the right stocks is apparently not an easy task. But our proprietary methodology makes it simple. One can trim the list with the combination of a favorable Zacks Rank — Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Zacks Earnings ESP. You can uncover the best stocks to buy or sell before they report with our Earnings ESP Filter.
Earnings ESP — the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate — is our proprietary methodology for determining stocks that have high chances of delivering earnings surprises in their next announcements. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as much as 70%.
Our Choices
Below, we list four gold mining stocks that have the right combination of elements to pull off a positive surprise this earnings season:
Barrick Mining has an Earnings ESP of +1.60% and a Zacks Rank #3. It is slated to report on May 11.
Barrick Mining beat the Zacks Consensus Estimate for earnings in three of the last four quarters and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 11.2%, on average. The Zacks Consensus Estimate for first-quarter earnings stands at 73 cents. The company’s first-quarter performance is expected to reflect higher gold prices.
Higher realized prices are likely to have offset headwinds from weaker production and cost inflation, supporting the company’s top line and margins. The ramp-up at Loulo-Gounkoto, following the return of control in December 2025, is poised to deliver additional output this year. This, along with higher output from Pueblo Viejo, is expected to be offset by production declines across Veladero, North Mara and Carlin and lower grades at Turquoise Ridge.
KGC beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 26.1%, on average. KGC posted an earnings surprise of 21.8% in the last reported quarter. The Zacks Consensus Estimate for first-quarter earnings stands at 68 cents.
Higher realized gold prices and strong operating performance are expected to have allowed KGC to maintain the strong margin performance in the first quarter. Tasiast and Paracatu, KGC’s two biggest assets, remain the key contributors to cash flow generation and production. Tasiast, the highest-margin asset within its portfolio, is likely to have achieved strong performance, while Paracatu is expected to have delivered steady production on higher grades in the first quarter.
Centerra Gold has an Earnings ESP of +4.53% and a Zacks Rank #3. It is slated to report on April 29.
Centerra Gold beat the Zacks Consensus Estimate for earnings in three of the last four quarters and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 29.4%, on average. CGAU posted an earnings surprise of 20.6% in the last reported quarter. The Zacks Consensus Estimate for first-quarter earnings stands at 41 cents.
The company’s results are expected to reflect continued operational momentum underpinned by stable production from core assets such as Mount Milligan and Öksüt Mine, along with a supportive gold price environment, amid headwinds from cost inflation. Output from core assets is likely to have remained stable, supporting sales volumes.
IAMGOLD has an Earnings ESP of +9.54% and a Zacks Rank #3. It is slated to report on May 5.
IAMGOLD topped the Zacks Consensus Estimate for earnings in two of the last four quarters, missed once and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 15.8%, on average. IAG posted an earnings surprise of 27.3% in the last reported quarter. The consensus estimate for first-quarter earnings is pinned at 51 cents.
The company’s performance is expected to have benefited from strong production and sales volumes, as well as higher realized gold prices. Higher gold production from the ramp-up at Côté Gold, alongside solid operating consistency at Essakane and Westwood, is likely to have lifted volumes and sales. Elevated realized gold prices and improving operational efficiencies are expected to have boosted margins and free cash flow.
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4 Gold Mining Stocks Poised to Outshine Q1 Earnings Estimates
The Zacks Mining – Gold industry is housed within the broader Zacks Basic Materials sector. Basic Materials is among the Zacks sectors that are expected to see a rise in earnings for the first quarter. Overall earnings for the space are projected to increase 17.7% on 13.9% higher revenues, per the latest Earnings Preview.
Gold miners’ first-quarter results are likely to show benefits from higher gold prices, along with efforts to improve operating efficiency and cut costs. We have handpicked four industry players, Barrick Mining Corporation (B - Free Report) , Kinross Gold Corporation (KGC - Free Report) , Centerra Gold Inc. (CGAU - Free Report) and IAMGOLD Corporation (IAG - Free Report) , which are set to beat earnings estimates this time.
How Have Things Shaped Up for These Companies?
Gold entered 2026 with strong momentum after surging 65% in 2025. Heightened U.S.-Iran tensions, a weaker greenback and concerns surrounding the Federal Reserve’s independence propelled bullion to record levels, with prices surging to nearly $5,600 per ounce in late January. However, heavy profit-booking and a recovery in the U.S. dollar led to a brief correction, dragging gold below $4,900 per ounce.
The yellow metal regained traction early last month, climbing above $5,400 per ounce on March 2 as safe-haven demand jumped following joint U.S.-Israel strikes on Iran. Later in March, a stronger dollar, inflation worries tied to rising oil prices and the Fed’s hawkish tone weighed on sentiment, pulling gold down to nearly $4,400 per ounce on March 26. Gold later recovered to end the month above $4,600 per ounce, though it still finished March 12% lower. Despite the decline, gold prices ended the first quarter roughly 7% higher.
Stronger gold prices likely provided a tailwind for gold miners’ first-quarter performance. However, inflationary pressure on input costs, especially labor, fuel and electricity, is expected to have pushed mining costs higher and weighed on results.
Meanwhile, miners remain focused on streamlining operations by cutting operating and capital expenses, improving efficiency at existing mines, reducing debt, divesting non-core assets and prioritizing higher-grade assets. Several companies have also implemented measures to lower all-in sustaining costs, a key industry metric. These efforts are expected to have supported profit margins in the first quarter.
How to Pick Winners?
Given the large number of players operating in the gold mining space, picking the right stocks is apparently not an easy task. But our proprietary methodology makes it simple. One can trim the list with the combination of a favorable Zacks Rank — Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Zacks Earnings ESP. You can uncover the best stocks to buy or sell before they report with our Earnings ESP Filter.
Earnings ESP — the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate — is our proprietary methodology for determining stocks that have high chances of delivering earnings surprises in their next announcements. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as much as 70%.
Our Choices
Below, we list four gold mining stocks that have the right combination of elements to pull off a positive surprise this earnings season:
Barrick Mining has an Earnings ESP of +1.60% and a Zacks Rank #3. It is slated to report on May 11.
Barrick Mining beat the Zacks Consensus Estimate for earnings in three of the last four quarters and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 11.2%, on average. The Zacks Consensus Estimate for first-quarter earnings stands at 73 cents. The company’s first-quarter performance is expected to reflect higher gold prices.
Higher realized prices are likely to have offset headwinds from weaker production and cost inflation, supporting the company’s top line and margins. The ramp-up at Loulo-Gounkoto, following the return of control in December 2025, is poised to deliver additional output this year. This, along with higher output from Pueblo Viejo, is expected to be offset by production declines across Veladero, North Mara and Carlin and lower grades at Turquoise Ridge.
Barrick Mining Corporation Price and EPS Surprise
Barrick Mining Corporation price-eps-surprise | Barrick Mining Corporation Quote
Kinross Gold has an Earnings ESP of +7.07% and a Zacks Rank #3. It is slated to report on April 29. You can see the complete list of today’s Zacks #1 Rank stocks here.
KGC beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 26.1%, on average. KGC posted an earnings surprise of 21.8% in the last reported quarter. The Zacks Consensus Estimate for first-quarter earnings stands at 68 cents.
Higher realized gold prices and strong operating performance are expected to have allowed KGC to maintain the strong margin performance in the first quarter. Tasiast and Paracatu, KGC’s two biggest assets, remain the key contributors to cash flow generation and production. Tasiast, the highest-margin asset within its portfolio, is likely to have achieved strong performance, while Paracatu is expected to have delivered steady production on higher grades in the first quarter.
Kinross Gold Corporation Price and EPS Surprise
Kinross Gold Corporation price-eps-surprise | Kinross Gold Corporation Quote
Centerra Gold has an Earnings ESP of +4.53% and a Zacks Rank #3. It is slated to report on April 29.
Centerra Gold beat the Zacks Consensus Estimate for earnings in three of the last four quarters and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 29.4%, on average. CGAU posted an earnings surprise of 20.6% in the last reported quarter. The Zacks Consensus Estimate for first-quarter earnings stands at 41 cents.
The company’s results are expected to reflect continued operational momentum underpinned by stable production from core assets such as Mount Milligan and Öksüt Mine, along with a supportive gold price environment, amid headwinds from cost inflation. Output from core assets is likely to have remained stable, supporting sales volumes.
Centerra Gold Inc. Price and EPS Surprise
Centerra Gold Inc. price-eps-surprise | Centerra Gold Inc. Quote
IAMGOLD has an Earnings ESP of +9.54% and a Zacks Rank #3. It is slated to report on May 5.
IAMGOLD topped the Zacks Consensus Estimate for earnings in two of the last four quarters, missed once and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 15.8%, on average. IAG posted an earnings surprise of 27.3% in the last reported quarter. The consensus estimate for first-quarter earnings is pinned at 51 cents.
The company’s performance is expected to have benefited from strong production and sales volumes, as well as higher realized gold prices. Higher gold production from the ramp-up at Côté Gold, alongside solid operating consistency at Essakane and Westwood, is likely to have lifted volumes and sales. Elevated realized gold prices and improving operational efficiencies are expected to have boosted margins and free cash flow.
Iamgold Corporation Price and EPS Surprise
Iamgold Corporation price-eps-surprise | Iamgold Corporation Quote