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Barrick Mining's Q1 Earnings and Sales Beat on Higher Gold Prices
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Key Takeaways
B posted Q1 adjusted EPS of 98 cents, beating estimates as sales rose 67% year over year.
Barrick Mining saw gold production dip 5.1%, while realized gold prices surged 66.4% to $4,823.
B generated $2.55B in operating cash flow and expects up to 3.25M ounces of gold output in 2026.
Barrick Mining Corporation (B - Free Report) recorded profits (on a reported basis) of $1,602 million or 96 cents per share for first-quarter 2026, up from $474 million or 27 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 98 cents. The figure beat the Zacks Consensus Estimate of 74 cents.
Barrick recorded total sales of $5,218 million, up 67% year over year. The metric surpassed the Zacks Consensus Estimate of $4,533.5 million.
Barrick Mining Corporation Price, Consensus and EPS Surprise
Total gold production was 719,000 ounces in the reported quarter, down around 5.1% year over year. The figure beat the Zacks Consensus Estimate of 655,000 ounces. The average realized price of gold was $4,823 per ounce in the quarter, up around 66.4%.
The cost of sales increased around 18% year over year to $1,922 per ounce. All-in-sustaining costs (AISC) moved down 4% to $1,708 per ounce in the quarter.
B’s Financial Position
At the end of the quarter, Barrick had cash and cash equivalents of $7,131 million, up 74% from the prior-year quarter. The company’s total debt was $4,726 million at the end of the quarter, essentially flat year over year.
The operating cash flow was $2.55 billion for the quarter, whereas the free cash flow was $1.58 billion.
B’s Guidance
For 2026, Barrick anticipates attributable gold production to be in the range of 2.9-3.25 million ounces. For the second quarter of 2026, gold production is expected to be in the range of 730,000-770,000 ounces.
AISC is projected at $1,760-$1,950 per ounce for 2026. Cash costs per ounce are forecast to be $1,330-$1,470. The company also expects to see a cost of sales of $1,870-$2,070 per ounce.
Barrick expects copper production of 190,000-220,000 tons at AISC of $3.45-$3.75 per pound, C1 cash costs of $2.20-$2.45 per pound and cost of sales of $3.05-$3.35 per pound for 2026.
Barrick’s Price Performance
B’s shares have gained 158.8% in the past year compared with the industry’s 93.3% rise.
Image Source: Zacks Investment Research
B’s Zacks Rank & Stocks to Consider
B currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Idaho Strategic Resources, Inc. (IDR - Free Report) and Hawkins, Inc. (HWKN - Free Report) .
Sociedad is slated to report first-quarter 2026 results on May 26. The Zacks Consensus Estimate for loss is pegged at $1.78 per share, indicating 270.8% year-over-year growth. SQM has a Zacks Rank #2 (Buy) at present.
Idaho is expected to report first-quarter 2026 results on May 14. The Zacks Consensus Estimate for earnings is pegged at 43 cents per share, indicating 258.3% year-over-year growth. IDR sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 76 cents per share. HWKN currently has a Zacks Rank #2.
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Barrick Mining's Q1 Earnings and Sales Beat on Higher Gold Prices
Key Takeaways
Barrick Mining Corporation (B - Free Report) recorded profits (on a reported basis) of $1,602 million or 96 cents per share for first-quarter 2026, up from $474 million or 27 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 98 cents. The figure beat the Zacks Consensus Estimate of 74 cents.
Barrick recorded total sales of $5,218 million, up 67% year over year. The metric surpassed the Zacks Consensus Estimate of $4,533.5 million.
Barrick Mining Corporation Price, Consensus and EPS Surprise
Barrick Mining Corporation price-consensus-eps-surprise-chart | Barrick Mining Corporation Quote
B’s Operational Highlights
Total gold production was 719,000 ounces in the reported quarter, down around 5.1% year over year. The figure beat the Zacks Consensus Estimate of 655,000 ounces. The average realized price of gold was $4,823 per ounce in the quarter, up around 66.4%.
The cost of sales increased around 18% year over year to $1,922 per ounce. All-in-sustaining costs (AISC) moved down 4% to $1,708 per ounce in the quarter.
B’s Financial Position
At the end of the quarter, Barrick had cash and cash equivalents of $7,131 million, up 74% from the prior-year quarter. The company’s total debt was $4,726 million at the end of the quarter, essentially flat year over year.
The operating cash flow was $2.55 billion for the quarter, whereas the free cash flow was $1.58 billion.
B’s Guidance
For 2026, Barrick anticipates attributable gold production to be in the range of 2.9-3.25 million ounces. For the second quarter of 2026, gold production is expected to be in the range of 730,000-770,000 ounces.
AISC is projected at $1,760-$1,950 per ounce for 2026. Cash costs per ounce are forecast to be $1,330-$1,470. The company also expects to see a cost of sales of $1,870-$2,070 per ounce.
Barrick expects copper production of 190,000-220,000 tons at AISC of $3.45-$3.75 per pound, C1 cash costs of $2.20-$2.45 per pound and cost of sales of $3.05-$3.35 per pound for 2026.
Barrick’s Price Performance
B’s shares have gained 158.8% in the past year compared with the industry’s 93.3% rise.
B’s Zacks Rank & Stocks to Consider
B currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Idaho Strategic Resources, Inc. (IDR - Free Report) and Hawkins, Inc. (HWKN - Free Report) .
Sociedad is slated to report first-quarter 2026 results on May 26. The Zacks Consensus Estimate for loss is pegged at $1.78 per share, indicating 270.8% year-over-year growth. SQM has a Zacks Rank #2 (Buy) at present.
Idaho is expected to report first-quarter 2026 results on May 14. The Zacks Consensus Estimate for earnings is pegged at 43 cents per share, indicating 258.3% year-over-year growth. IDR sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 76 cents per share. HWKN currently has a Zacks Rank #2.