Barrick Gold Corporation

ABX

Equity

ISIN null / Valor 337680

Toronto Stock Exchange (2026-09-29)

CAD 58.47+0.50%

Barrick Gold Corporation
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About company

Barrick Gold Corporation is a large, publicly traded mining company that explores for, develops and operates gold and copper properties and sells the metals it produces. Its portfolio includes operating mines and development-stage projects across multiple regions — notably North and South America, Africa and the Middle East — and it commonly holds assets either directly or through joint ventures and partnerships (for example its involvement in the Nevada Gold Mines arrangement). Barrick’s activities cover the full mining value chain from exploration and project permitting through ore extraction, processing and concentrate or bullion sales, and the company focuses capital allocation on operating mines and advancing deposits to sustain production and replace reserves.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Production vs. guidance

Gold production: 719,000 oz in Q1 2026, beating guidance (640k–680k oz). Copper: 49,000 tonnes (up 11% YoY). Q2 gold guidance: 730k–770k oz; full‑year gold guidance unchanged at 2.90–3.25 million oz.

Costs

Gold unit costs came in below plan: COS $1,922/oz, TCC $1,327/oz, AISC $1,708/oz (AISC down 4% YoY vs Q1 2025). Copper costs: COS $3.41/lb, C1 $2.57/lb, AISC $3.67/lb (all up vs prior year, driven by royalties and site costs).

Revenue and earnings

Revenue was $5.22 billion (+67% YoY). Net earnings attributable to holders were $1.60 billion ($0.96/share; +256% YoY); adjusted net earnings were $1.65 billion ($0.98/share; +180% YoY). Attributable EBITDA was $2.76 billion (66% attributable EBITDA margin).

Cash flow and balance sheet

Operating cash flow: $2.55 billion (+111% YoY). Attributable operating cash flow: $1.97 billion (+89% YoY). Attributable free cash flow: $1.21 billion (+195% YoY). Cash & equivalents: $7.13 billion; debt (current + long‑term) $4.73 billion — resulting in a net cash position of roughly $2.4 billion.

Shareholder returns

Declared quarterly dividend of $0.175/share (payable June 15, 2026). Board authorized repurchase of up to $3.0 billion of common shares (not obligatory to execute), complementing the dividend policy targeting ~50% of attributable free cash flow annually (base + performance top‑up).

Capital spending and projects

Q1 consolidated capex was $979 million (project capex $570M; sustaining $380M). Lumwana Super Pit Expansion progressing on time/budget (first copper from expansion on track for end of Q1 2028); Fourmile drilling and PFS work advancing toward potential resource growth.

2026 guidance and sensitivities

2026 guidance reaffirmed: gold 2.90–3.25M oz; gold COS $1,870–2,070/oz, TCC $1,330–1,470/oz, AISC $1,760–1,950/oz (based on $4,500/oz gold). Copper guidance: 190–220 kt at COS $3.05–3.35/lb, C1 $2.20–2.45/lb, AISC $3.45–3.75/lb (based on $5.50/lb copper). Oil sensitivity: ~$12/oz impact to gold costs per $10/bbl WTI change.

Corporate / strategic update

North American Barrick IPO (minority stake in North American gold assets including NGM, Pueblo Viejo and Fourmile) is proceeding as planned and targeted for completion by year‑end 2026, subject to market and regulatory conditions.

Summarized from source with an LLMView Source

Key figures

26.8%1Y

196%3Y

161%5Y

Performance

48.5%1Y

38.2%3Y

35.7%5Y

Volatility