Barrick Gold Q1 Earnings Beat Estimates, Shares Up 9%

Toronto-based Barrick Gold Corp. released first-quarter 2026 earnings on Monday that surpassed analyst expectations across key metrics, sending its shares up nearly 9 percent to close at around $44.

The company reported revenue of $5.22 billion for the three months ended March 31, a 67 percent increase from $3.13 billion in the year-earlier period and ahead of the $4.84 billion consensus forecast. Adjusted earnings per share came in at $0.98, topping estimates of $0.81. Net income reached $1.60 billion, or $0.96 per diluted share, more than tripling from $474 million, or $0.27 per share, a year ago.

Gold production totaled 719,000 ounces, exceeding the company's guidance range of 640,000 to 680,000 ounces, though down from 758,000 ounces in the prior-year quarter. The realized gold price averaged $4,823 per ounce, up sharply from $2,898, fueled by record-high market prices amid geopolitical tensions. Copper output rose 11 percent year over year to 49,000 tonnes. All-in sustaining costs for gold fell 4 percent to $1,708 per ounce, boosting cash generation. Operating cash flow climbed 111 percent to $2.55 billion, while attributable free cash flow surged 195 percent to $1.21 billion.