Barrick Mining Corporation Q3 2026 Earnings Recap

Shares fell 2.1% after earnings, a roughly flat reaction. The quarter included higher gold production and solid cash generation, while weather disruptions persisted into early Q4 and copper costs are expected near the top of the full-year range.

Key Takeaways

• Gold production was 816,000 ounces, higher than last quarter; management said it remains on track for full-year production guidance.
• Adjusted net earnings were $0.82 per share, up 41% year over year; adjusted EBITDA was $3.5 billion and free cash flow was $1.2 billion.
• Weather disruptions at Veladero and Porgera continued into early Q4, with storms and water shortages affecting operations.
• Copper production was 50,000 tons. Full-year copper costs are expected around the top end of the guidance range, citing diesel, currency, royalties and waste stripping.
• Lumwana’s expansion remains on track for first copper at the end of Q1 2028, with total expected project capital of $2 billion.