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Barrick Mining's Q2 Earnings & Sales Top Estimates on Higher Prices
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Key Takeaways
Barrick posted adjusted EPS of 82 cents, up 74% year over year and above estimates.
Gold production was flat, but realized gold prices rose 34% to $4,417 per ounce.
Barrick cut 2026 capital spending guidance to $3.8-$4.2 billion from $4-$4.45 billion.
Barrick Mining Corporation (B - Free Report) recorded profits (on a reported basis) of $1,217 million or 73 cents per share for second-quarter 2026, up 50% from $811 million or 47 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 82 cents. The figure beat the Zacks Consensus Estimate of 81 cents and increased around 74% year over year.
Barrick recorded total sales of $5,292 million, up 44% year over year. The top line surpassed the Zacks Consensus Estimate of $4,487.7 million.
Barrick Mining Corporation Price, Consensus and EPS Surprise
Total gold production was 796,000 ounces in the reported quarter, essentially flat year over year compared with 797,000 ounces. The metric beat the consensus estimate of 764,000 ounces. The average realized price of gold was $4,417 per ounce in the quarter, up around 34%.
The cost of sales increased around 20% year over year to $1,993 per ounce. All-in-sustaining costs (AISC) rose around 11% to $1,866 per ounce in the quarter.
B’s Financial Position
At the end of the quarter, Barrick had cash and cash equivalents of $5,927 million, up 23% from the prior-year quarter. The company’s total debt was $4,682 million at the end of the quarter, down around 1% year over year.
The operating cash flow was $1.7 billion for the quarter, up 28% year over year, whereas the free cash flow was $515 million, up 30%.
B’s Guidance
For 2026, Barrick continues to anticipate attributable gold production in the range of 2.9-3.25 million ounces. The company reduced total attributable capital expenditure guidance to $3.8-$4.2 billion from $4-$4.45 billion previously.
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 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.
B’s Price Performance
Barrick’s shares have gained 68.2% in the past year compared with the 51.1% rise of the industry.
Newmont Corporation (NEM - Free Report) reported second-quarter adjusted earnings of $2.10 per share, up 46.9% from $1.43 reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $2.05. Newmont remains on track to achieve its previously announced 2026 guidance. NEM expects attributable gold production of approximately 5.26 million ounces.
Kinross Gold Corporation (KGC - Free Report) reported adjusted earnings of 71 cents per share for the second quarter, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents by 7.6%. Kinross remains on track to meet its 2026 annual guidance. KGC expects attributable production of 2 million gold-equivalent ounces (+/- 5%).
Agnico Eagle Mines Limited (AEM - Free Report) reported second-quarter adjusted earnings of $3.05 per share, up 57.2% from $1.94 a year ago. The figure surpassed the Zacks Consensus Estimate of $2.89. For full-year 2026, AEM expects gold production near the lower end of its guidance of 3.3 million to 3.5 million ounces, reflecting the preliminary redesign of the Barnat open pit at Canadian Malartic.
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Barrick Mining's Q2 Earnings & Sales Top Estimates on Higher Prices
Key Takeaways
Barrick Mining Corporation (B - Free Report) recorded profits (on a reported basis) of $1,217 million or 73 cents per share for second-quarter 2026, up 50% from $811 million or 47 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 82 cents. The figure beat the Zacks Consensus Estimate of 81 cents and increased around 74% year over year.
Barrick recorded total sales of $5,292 million, up 44% year over year. The top line surpassed the Zacks Consensus Estimate of $4,487.7 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 796,000 ounces in the reported quarter, essentially flat year over year compared with 797,000 ounces. The metric beat the consensus estimate of 764,000 ounces. The average realized price of gold was $4,417 per ounce in the quarter, up around 34%.
The cost of sales increased around 20% year over year to $1,993 per ounce. All-in-sustaining costs (AISC) rose around 11% to $1,866 per ounce in the quarter.
B’s Financial Position
At the end of the quarter, Barrick had cash and cash equivalents of $5,927 million, up 23% from the prior-year quarter. The company’s total debt was $4,682 million at the end of the quarter, down around 1% year over year.
The operating cash flow was $1.7 billion for the quarter, up 28% year over year, whereas the free cash flow was $515 million, up 30%.
B’s Guidance
For 2026, Barrick continues to anticipate attributable gold production in the range of 2.9-3.25 million ounces. The company reduced total attributable capital expenditure guidance to $3.8-$4.2 billion from $4-$4.45 billion previously.
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 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.
B’s Price Performance
Barrick’s shares have gained 68.2% in the past year compared with the 51.1% rise of the industry.
B’s Zacks Rank & Other Mining Releases
B currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Newmont Corporation (NEM - Free Report) reported second-quarter adjusted earnings of $2.10 per share, up 46.9% from $1.43 reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $2.05. Newmont remains on track to achieve its previously announced 2026 guidance. NEM expects attributable gold production of approximately 5.26 million ounces.
Kinross Gold Corporation (KGC - Free Report) reported adjusted earnings of 71 cents per share for the second quarter, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents by 7.6%. Kinross remains on track to meet its 2026 annual guidance. KGC expects attributable production of 2 million gold-equivalent ounces (+/- 5%).
Agnico Eagle Mines Limited (AEM - Free Report) reported second-quarter adjusted earnings of $3.05 per share, up 57.2% from $1.94 a year ago. The figure surpassed the Zacks Consensus Estimate of $2.89. For full-year 2026, AEM expects gold production near the lower end of its guidance of 3.3 million to 3.5 million ounces, reflecting the preliminary redesign of the Barnat open pit at Canadian Malartic.