Barrick Mining reports Q1 gold output beats guidance

Mon May 11 2026

Barrick Mining Corporation (NYSE:B)(TSX:ABX) reported first quarter gold production of 719,000 ounces, exceeding its guidance range of 640,000 to 680,000 ounces, according to a press release statement issued Monday.

The company produced 49,000 tonnes of copper during the quarter ended March 31, 2026, in line with its plan. Gold production outperformance was driven by strong underground mining and processing at Nevada Gold Mines, higher throughput and grades at Veladero, and a faster than expected ramp-up at Loulo-Gounkoto.

Barrick generated revenue of $5.22 billion in the first quarter, up 67% from $3.13 billion in the prior-year quarter. Operating cash flow reached $2.55 billion, an increase of 111% year-on-year. Net earnings per share for the quarter were $0.96, up 256% from $0.27 in the first quarter of 2025. Adjusted net earnings per share were $0.98, compared to $0.35 in the prior-year period.The strong earnings performance has pushed Barrick’s market capitalization to $72.3 billion, with shares trading at a P/E ratio of 14.75. According to most undervalued stocks list.

Gold cost of sales was $1,922 per ounce, compared to $1,629 in the first quarter of 2025. Total cash costs were $1,327 per ounce, up from $1,220 in the prior-year quarter. All-in sustaining costs were $1,708 per ounce, down 4% compared to the first quarter of 2025.

The company declared a quarterly dividend of $0.175 per share, payable on June 15, 2026 to shareholders of record on May 29, 2026. The dividend represents a current yield of 3.9%, with dividend growth of 320% over the last twelve months. Barrick’s board also authorized a new $3.0 billion share buyback program. For the second quarter, Barrick expects gold production of 730,000 to 770,000 ounces. Full-year 2026 production guidance remains unchanged at 2.90 to 3.25 million ounces of gold and 190,000 to 220,000 tonnes of copper.

Construction at the Lumwana Super Pit Expansion continued to advance during the quarter, with capital expenditure for 2026 expected at the lower end of the $750 million to $850 million guidance range. First copper production from the expansion remains on track for the end of the first quarter of 2028. Barrick stated it remains on track to complete the initial public offering of its North American gold assets by the end of 2026, subject to market conditions and necessary approvals.InvestingPro Tips highlight that the company has been profitable over the last twelve months, with analysts predicting continued profitability this year. Investors seeking deeper insights can access Barrick’s comprehensive Pro Research Report, one of over 1,400 available for US equities, which transforms complex financial data into clear, actionable intelligence through intuitive visuals and expert analysis.

In other recent news, Barrick Mining Corporation has made several noteworthy announcements. The company has authorized a $3 billion share buyback program, allowing the repurchase of outstanding common shares through open market purchases and other methods permitted under U.S. Securities and Exchange Commission rules. Additionally, Barrick declared a quarterly dividend of $0.175 per share for the first quarter of 2026, with payment scheduled for June 15, 2026, to shareholders of record as of May 29, 2026. In another development, Barrick has announced the executive leadership team for North American Barrick, a new entity that will manage its North American gold assets ahead of a planned initial public offering. The management team will be led by Chief Operating Officer Tim Cribb, reporting to Barrick President and CEO Mark Hill.

In related industry news, gold mining companies, including Barrick Mining, saw a rise in shares as gold prices increased following Iran’s decision to keep the Strait of Hormuz open to commercial shipping. This development occurred amidst a ceasefire in Lebanon. Meanwhile, the U.S. Food and Drug Administration has extended the review period for the subcutaneous injection of lecanemab, marketed as Leqembi Iqlik by BioArctic AB, to August 24, 2026, due to a major amendment request.

Source: https://m.in.investing.com/