Barrick Gold (B) Stock Surges 3% on Stellar Q1 Results and $3B Buyback Plan

Table of Contents Barrick Gold (NYSE: B) experienced a 3% increase on Monday following the release of first-quarter financial results that exceeded analyst projections across key metrics. Barrick Mining Corporation, B The mining giant delivered adjusted earnings per share of $0.98, surpassing the Wall Street consensus of $0.81. Total quarterly revenue reached $5.22 billion, marking a significant 67% climb from $3.13 billion in the comparable period last year and beating the anticipated $4.84 billion. Shares initially gained approximately 0.6% during premarket hours following the earnings release before momentum accelerated throughout the session. Gold prices hit an average of $4,673.50 per ounce throughout the quarter, representing roughly a 63% increase compared to the prior year. Barrick achieved an even more favorable realized gold price of $4,823 per ounce, substantially higher than the $2,898 per ounce recorded in last year’s first quarter. The company’s gold output totaled 719,000 ounces during the three-month period ending March 31. While this figure represented a decline from the 758,000 ounces produced in the year-ago quarter, it significantly exceeded Barrick’s internal guidance range of 640,000–680,000 ounces. CEO Mark Hill highlighted superior underground mining execution and accelerated progress at strategic locations. “We operated safely and outperformed our plan on both gold production and costs,” Hill stated. Robust performance at Nevada Gold Mines, enhanced processing volumes at Veladero, and an expedited ramp-up at Loulo-Gounkoto were instrumental in exceeding expectations. Gold all-in sustaining costs registered at $1,708 per ounce, declining 4% from the previous year. This favorable mix of elevated realized prices combined with reduced costs translated directly into impressive cash generation. Cash flow from operations climbed to $2.55 billion, representing a 111% year-over-year improvement. Attributable free cash flow surged to $1.21 billion, nearly tripling with a 195% increase compared to the first quarter of 2025. The copper segment also delivered positive results, with production climbing 11% year-over-year to 49,000 tonnes. Barrick announced a quarterly dividend of $0.175 per share, scheduled for distribution on June 15 to shareholders of record as of May 29. The company additionally unveiled a substantial $3.0 billion share repurchase program, demonstrating strong confidence in its financial position and future prospects. Looking ahead to the second quarter, Barrick projects gold production within a range of 730,000–770,000 ounces. The 750,000-ounce midpoint suggests ongoing sequential production growth. Full-year 2026 gold production targets remain unchanged at 2.90–3.25 million ounces. Copper production guidance similarly held steady at 190,000–220,000 tonnes. The anticipated initial public offering of North American Barrick — encompassing the company’s Nevada Gold Mines and Pueblo Viejo interests alongside the Fourmile project — continues to progress toward the targeted year-end completion.