Barrick Mining's Q3 Earnings Beat Estimates, Sales Up on Higher Prices

Barrick Mining Corporation B recorded profits (on a reported basis) of $1,302 million or 76 cents per share for third-quarter 2025, up from $483 million or 28 cents per share in the year-ago quarter.

Barring one-time items, adjusted earnings per share were 58 cents. The figure beat the Zacks Consensus Estimate of 57 cents. 

Barrick recorded total sales of $4,148 million, up 23% year over year. The metric missed the Zacks Estimate of $4,224 million. 

Barrick 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 829,000 ounces in the reported quarter, down around 12% year over year. The average realized price of gold was $3,457 per ounce in the quarter, up around 39%.

The cost of sales increased around 6% year over year to $1,562 per ounce. All-in-sustaining costs (AISC) moved up 2% to $1,538 per ounce in the quarter. 

B’s Financial Position

At the end of the quarter, Barrick had cash and cash equivalents of $5,037 million, up 19% from the prior-year quarter. The company’s total debt was $4,714 million at the end of the quarter, flat year over year. 

The operating cash flow was $2,422 million for the quarter, whereas the free cash flow was $1,479 million. 

B’s Guidance

For 2025, Barrick continues to anticipate attributable gold production to be in the range of 3.15-3.5 million ounces. 

AISC is projected at $1,460- $1,560 per ounce for 2025. Cash costs per ounce are forecast to be $1,050-$1,130. The company also expects to see a cost of sales of $1,460-$1,560 per ounce. 

Barrick expects a copper production of 200,000-230,000 tons at AISC of $2.80-$3.10 per pound, cash costs per ounce of $1.80-$2.10 and cost of sales of $2.50-$2.80 per pound. 

Total attributable capital expenditures are projected in the range of $3,100-$3,600 million for 2025. 

B’s Zacks Rank & Other Gold Mining Releases

B currently carries a Zacks Rank #3 (Hold). 

Agnico Eagle Mines Limited AEM logged adjusted earnings of $2.16 per share in the third quarter, up from $1.14 per share a year ago. AEM expects 2025 production to be between 3.35 million and 3.5 million ounces. The company also plans capital expenditures (excluding capitalized exploration) of $1.75 billion to $1.95 billion. 

Kinross Gold Corporation KGC adjusted earnings were 44 cents per share for the third quarter. The metric beat the Zacks Consensus Estimate of 39 cents. Kinross expects to produce slightly above the midpoint of 2 million gold equivalent ounces (+/- 5%) on an attributable basis in 2025. KGC expects full-year 2025 capital expenditures to be $1,150 million (+/- 5%). 

Newmont Corporation NEM logged third-quarter adjusted earnings per share of $1.71. It beat the Zacks Consensus Estimate of $1.29. NEM anticipates maintaining its expected gold production for 2025 at about 5.9 million ounces.  

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

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