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 Surprise Barrick Mining Corporation price-consensus-eps-surprise-chart | Barrick Mining Corporation QuoteB’s Operational HighlightsTotal 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 PositionAt 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 GuidanceFor 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 PerformanceB’s shares have gained 158.8% in the past year compared with the industry’s 93.3% rise. Image Source: Zacks Investment ResearchB’s Zacks Rank & Stocks to ConsiderB 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.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.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks