Barrick Mining's Q1 Earnings and Sales Beat on Higher Gold Prices

Barrick Mining Corporation B 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 SurpriseBarrick 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.Zacks Investment Research

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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, Idaho Strategic Resources, Inc. IDR and Hawkins, Inc. HWKN.

Story Continues

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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Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report

Barrick Mining Corporation (B) : Free Stock Analysis Report

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This article originally published on Zacks Investment Research (zacks.com).

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