Barrick Mining Corporation (NYSE: B) reported first quarter 2026 results that exceeded production guidance, with gold output of 719,000 ounces surpassing the company's forecast range of 640,000-680,000 ounces. The Toronto-based mining company also produced 49,000 tonnes of copper during the quarter.

The company generated $5.22 billion in revenue for the three months ended March 31, 2026, representing a 67% increase from $3.13 billion in the same period last year. Net earnings reached $1.60 billion, or $0.96 per share, compared to $474 million, or $0.27 per share, in the prior-year quarter.

Operating cash flow totaled $2.55 billion, up 111% year-on-year, while attributable free cash flow increased 195% to $1.21 billion. The strong performance was driven by higher gold production, favorable gold prices, and operational efficiencies at key mines including Nevada Gold Mines, Veladero, and Loulo-Gounkoto.

Gold costs came in below plan despite year-over-year increases. Cost of sales averaged $1,922 per ounce, total cash costs were $1,327 per ounce, and all-in sustaining costs reached $1,708 per ounce. The company maintained its full-year 2026 production guidance of 2.90-3.25 million ounces of gold and 190,000-220,000 tonnes of copper.

Barrick declared a quarterly dividend of $0.175 per share and announced a new $3.0 billion share buyback program. The company continues to advance its planned initial public offering of its North American gold assets, targeting completion by year-end 2026.

Construction progress continued at the Lumwana Super Pit Expansion project, which remains on schedule for first copper production in late Q1 2028. The Fourmile project in Nevada showed continued potential as drilling activities expanded through the winter months.