Barrick Mining's Q4 Earnings and Sales Beat on Higher Gold Prices

Barrick Mining Corporation B recorded profits (on a reported basis) of $2,406 million or $1.43 per share for fourth-quarter 2025, up from $996 million or 57 cents per share in the year-ago quarter.

Barring one-time items, adjusted earnings per share were $1.04. The figure beat the Zacks Consensus Estimate of 85 cents. 

Barrick recorded total sales of $5,997 million, up 64.5% year over year. The metric beat the Zacks Consensus Estimate of $5,096.9 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 871,000 ounces in the reported quarter, down around 19.4% year over year. The average realized price of gold was $4,177 per ounce in the quarter, up around 57.2%.

The cost of sales increased around 33.3% year over year to $1,904 per ounce. All-in-sustaining costs (AISC) moved up 9% to $1,581 per ounce in the quarter. 

B’s Financial Position

At the end of the quarter, Barrick had cash and cash equivalents of $6,706 million, up 64.5% from the prior-year quarter. The company’s total debt was $4,703 million at the end of the quarter, down 0.5% year over year. 

The operating cash flow was $2.73 billion for the quarter, whereas the free cash flow was $1.62 billion. 

B’s Guidance

For 2026, Barrick anticipates attributable gold production to be in the range of 2.90-3.25 million 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 a copper production of 190,000-220,000 tons at AISC of $3.45-$3.75 per pound, cash costs per ounce of $2.20-$2.45 and cost of sales of $3.05-$3.35 per pound for 2026. 

Barrick’s Price Performance

B’s shares have gained 156.2% in the past year against the industry’s 128.7% rise.

B’s Zacks Rank & Stocks to Consider

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

Better-ranked stocks worth a look in the basic materials space include Albemarle Corporation ALB, Coeur Mining, Inc. CDE and Avino Silver & Gold Mines Ltd. ASM.

Albemarle is slated to report fourth-quarter results on Feb. 11. The Zacks Consensus Estimate for earnings is pegged at a loss of 53 cents. ALB beat the Zacks Consensus Estimate in three of the last four quarters while missing once, with the average earnings surprise being 35.28%. ALB sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here. 

Coeur is scheduled to report fourth-quarter results on Feb. 18. The Zacks Consensus Estimate for CDE’s fourth-quarter earnings is pegged at 33 cents. CDE beat the Zacks Consensus Estimate in three of the last two quarters and missed once, with the average earnings surprise being 106.61%. CDE currently sports a Zacks Rank #1. 

Avino Silver is slated to report fourth-quarter results on March 11. The consensus estimate for ASM’s earnings is pegged at 6 cents. ASM, carrying a Zacks Rank #2 (Buy), beats the consensus estimate in each of the last four quarters, with the average earnings surprise being 150%. 

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

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