Barrick Reports Strong Q1 2026 Results, Announces $3 Billion Share Buyback

SEATTLE (Scrap Monster): Barrick Mining Corporation reported strong first-quarter 2026 results, driven by higher gold production, lower-than-expected costs, and stronger realized gold prices.

The company produced 719,000 ounces of gold, surpassing guidance of 640,000–680,000 ounces, while copper output reached 49,000 tonnes in line with expectations. Revenue climbed 67% year-on-year to $5.22 billion.

Operating cash flow surged 111% to $2.55 billion, while attributable free cash flow jumped 195% to $1.21 billion. Net earnings per share rose 256% to $0.96, while adjusted earnings per share increased 180% to $0.98.

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President and CEO Mark Hill said the company’s disciplined operational execution, strong performances at Nevada Gold Mines and Veladero, and ramp-up at Loulo-Gounkoto drove the results.

Gold cost of sales totaled $1,922 per ounce, with all-in sustaining costs of $1,708 per ounce. Copper production increased 11% year-over-year.

Barrick maintained its full-year 2026 production guidance of 2.90–3.25 million ounces of gold and expects stronger sequential output through the year.

The company also declared a quarterly dividend of $0.175 per share and announced a new $3 billion share repurchase program as it advances the planned North American Barrick IPO targeted for completion by year-end.