Barrick Mining earnings: third quarter 2026

Barrick Mining's third quarter of 2026 was a story of high metal prices lifting sales and profit while costs and spending rose too. Sales grew 22% to $5.07 billion and adjusted profit per share jumped, but each ounce cost far more to produce and less cash was left for owners after spending on the mines. For the year, Barrick kept its production and cost forecasts, though some mines are lagging and copper costs are running hot. ¹

Against what analysts expected

Analysts expected, on average, earnings per share of $0.74 for the quarter (Nasdaq's earnings calendar). Barrick reported $0.80, or $0.82 on its own adjusted measure; the forecast sits closer to the reported figure, so set against that, the quarter came in about 8% above what analysts expected. ¹²

The strong points

• Sales rose 22% from a year ago to $5.07 billion, and the profit from running the mines grew just as fast. ¹
• On the company's own adjusted measure, which strips out one-off items, earnings per share rose to $0.82 from $0.58 a year ago. ¹

The weak points

• The full cost of producing an ounce, including the spending to keep mines running, rose to $1,911 from $1,538 a year ago. ¹
• The cash left for Barrick after running the mines and investing in them fell 44% from a year ago, to $642 million. ¹

What the company expects

• Barrick kept its 2026 production forecast at 2.90 to 3.25 million ounces, the same range as before, and expects the last quarter to be slightly higher than the third. ¹
• Barrick kept its copper cost ranges but now expects copper costs to land at or slightly above the top of them. ¹

Our verdict on the quarter

A strong report. Profit came in above what analysts expected, sales and underlying profit grew strongly and the forecasts for the year were kept, though rising costs and heavier spending meant less cash was left over for owners.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. Barrick Mining's results release, 9 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 9 November 2026. ↩