Barrick Mining Corporation (NYSE:B) reported adjusted earnings of $0.82 per share for the third quarter of 2026, exceeding analysts’ consensus estimate of $0.79, while revenue of $5.07 billion came in below expectations of $5.13 billion.
The mining company recorded a 37% year-on-year increase in adjusted net earnings to $1.35 billion, supported by higher realised gold prices. Revenue increased 22% compared with the same period of 2025, despite a decline in gold production.
Barrick also reaffirmed its full-year production guidance for both gold and copper, while reporting improvements in output at several mining operations.
Shares of the company rose 0.8% following the earnings announcement.
Barrick produced 816,000 ounces of gold during the third quarter, representing a 3% increase from the second quarter of 2026 but a 2% decline compared with the corresponding period of 2025.
The company maintained its full-year 2026 gold production forecast of between 2.90 million and 3.25 million ounces, with a midpoint of approximately 3.08 million ounces.
Barrick also reiterated its copper production guidance of 190,000 to 220,000 tonnes for the year.
The unchanged forecasts indicate that the company continues to expect its annual production to remain within previously announced ranges.
Barrick reported adjusted earnings per share of $0.82, exceeding the analyst consensus of $0.79 by $0.03.
Quarterly revenue reached $5.07 billion, below the market estimate of $5.13 billion but 22% higher than in the prior-year period.
The company attributed the annual revenue increase primarily to higher realised gold prices, which offset the effect of lower year-on-year production volumes.
Adjusted net earnings rose 37% to $1.35 billion, while attributable adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 22% to $2.47 billion.
The results reflected higher gold prices alongside changes in production volumes and operating costs.
Barrick reported all-in sustaining costs (AISC) for gold of $1,911 per ounce during the third quarter, compared with $1,538 per ounce in the corresponding period of 2025.
The increase of approximately 24.3% reflected several factors identified by the company.
These included lower ore grades processed during the period, higher royalty expenses associated with increased gold prices and rising diesel costs.
All-in sustaining costs are a measure used by mining companies to assess the expenses associated with maintaining gold production, including operating costs and certain sustaining capital expenditures.
The increase in AISC occurred alongside higher realised gold prices and improved adjusted earnings.
Barrick reported developments across several of its mining operations during the quarter.
At Cortez, production benefited from the continued ramp-up of the Goldrush project, which contributed to operational performance at the Nevada mining complex.
The Gold Quarry roaster at Carlin also recorded its highest quarterly performance, according to the company.
Outside Nevada, the Loulo-Gounkoto operation increased gold production by 16% compared with the second quarter of 2026.
Barrick stated that the production ramp-up at Loulo-Gounkoto remained ahead of its planned schedule.
The operational developments contributed to the company’s sequential increase in total gold output.
Mark Hill, Barrick’s President and Chief Executive Officer, commented on the company’s quarterly performance and progress across its operations.
“This quarter marks a full year of consistent delivery,” Hill said. “For the fourth consecutive quarter, we improved safety, executed against our plans, strengthened Nevada Gold Mines, advanced our growth projects, and returned significant capital to shareholders.”
The company also declared a quarterly dividend of $0.175 per share.
The dividend announcement forms part of Barrick’s capital distribution activities alongside its ongoing investment in mining operations and development projects.
Barrick reaffirmed its annual gold production guidance of 2.90 million to 3.25 million ounces and copper production guidance of 190,000 to 220,000 tonnes.
The company maintained these forecasts following third-quarter gold output of 816,000 ounces and reported production increases at operations including Loulo-Gounkoto.
Higher realised gold prices contributed to revenue growth and increased adjusted earnings, although all-in sustaining costs also rose compared with the previous year.
Barrick’s third-quarter results showed adjusted earnings above analysts’ expectations, revenue below consensus estimates and unchanged full-year production guidance.
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