Investing.com -- On Monday, Barrick Mining Corporation (NYSE: B)(TSX:ABX) reported first-quarter results that exceeded analyst expectations, with adjusted earnings per share of $0.98 compared to the consensus estimate of $0.81.

Revenue reached $5.22 billion, surpassing the $4.84 billion estimate and rising 67% YoY from $3.13 billion in the prior-year quarter.

The company's gold production of 719,000 ounces beat its own guidance range of 640,000-680,000 ounces, driven by strong underground mining and processing at Nevada Gold Mines, higher throughput and grades at Veladero, and a faster-than-expected ramp-up at Loulo-Gounkoto.

Gold all-in sustaining costs of $1,708 per ounce declined 4% YoY. Copper production rose 11% YoY to 49,000 tonnes. The strong operational performance contributed to operating cash flow of $2.55 billion, up 111% YoY, and attributable free cash flow of $1.21 billion, up 195% YoY.

Shares rose 0.6% premarket following the announcement.

"We started the year with another strong quarter. Building on momentum from Q4, we operated safely and outperformed our plan on both gold production and costs," said Mark Hill, President and Chief Executive Officer. "Our performance allowed us to capture even more of the higher gold price, producing significantly higher earnings and cash flow compared to a year ago."

For the second quarter, Barrick expects gold production of 730,000-770,000 ounces. The midpoint of 750,000 ounces suggests continued sequential improvement. The company maintained its full-year 2026 gold production guidance of 2.90-3.25 million ounces and copper production guidance of 190,000-220,000 tonnes.

Barrick declared a quarterly dividend of $0.175 per share, payable June 15 to shareholders of record on May 29. The company also announced a new $3.0 billion share buyback program. The planned initial public offering of North American Barrick, which will hold the company's Nevada Gold Mines and Pueblo Viejo stakes along with the Fourmile project, remains on track for completion by year end.