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GlobeNewswire·

Barrick Reports Third Quarter 2026 Results

B
  • Barrick Mining Corporation reported Q3 2026 results with 816,000 ounces of gold production, a 3% increase from Q2 2026 and 6% year-over-year.
  • Copper production for the quarter reached 50,000 tonnes.
  • Revenue rose 22% year-over-year to $5.07 billion, driven by higher metal prices.
  • Attributable adjusted EBITDA increased 22% to $2.47 billion.
  • Net earnings increased 1% to $1.32 billion ($0.80 per share), while adjusted net earnings per share rose 41% to $0.82.
  • Gold cost of sales was $1,950 per ounce, and all-in sustaining costs (AISC) were $1,911 per ounce, reflecting higher fuel costs, royalties, currency appreciation, and lower grades.
  • Copper AISC increased to $4.52 per pound due to higher diesel prices and local currency appreciation.
  • Operating cash flow totaled $2.49 billion, with attributable free cash flow of $0.64 billion.
  • The company returned $1.04 billion to shareholders via $761 million in share repurchases and a quarterly dividend of $0.175 per share.
  • Net cash position strengthened to $0.9 billion, up from $0.3 billion in Q3 2025.
  • Full-year 2026 guidance remains unchanged: 2.90–3.25 million ounces of gold and 190,000–220,000 tonnes of copper.
  • Operational highlights included record roaster throughput at Carlin's Gold Quarry, continued ramp-up at Cortez, and a 16% production increase at Loulo-Gounkoto.
  • Production was impacted by extreme weather at Veladero and delayed access to high-grade material at North Mara.
  • Key growth projects include the Lumwana mill expansion in Zambia (expected first copper in Q1 2028) and the Pueblo Viejo expansion in the Dominican Republic.
  • The company reiterated a 2026 capital expenditure guidance of $3.8 billion to $4.2 billion.
Company
Barrick Mining Corporation
Keywords
NYSE:B, Barrick Mining Corporation