Barrick Mining Q3 Adjusted Earnings Jump 41% to $0.82 Per Share as Gold Production Rises 6%

Barrick Mining Corporation reported third-quarter 2026 results before the market open on November 9, posting non-GAAP earnings per share of $0.82, beating the consensus estimate by $0.03 and representing a 41% increase in adjusted earnings. Net profit came in at $1.32 billion, up from $1.30 billion in the same period a year earlier. Revenue reached $5.07 billion, fractionally below the consensus estimate of roughly $5.10 billion by about $60 million.

Gold production totaled 816,000 ounces in the quarter, a 6% increase year over year excluding divested assets, though total attributable gold output was 2% lower than the prior-year period. Copper production reached 50,000 tonnes. Gold prices averaged approximately $4,150 per ounce at the close of the quarter, about 8% higher than a year earlier, providing a meaningful revenue tailwind that helped offset rising operating costs. Barrick reaffirmed its full-year 2026 production guidance and declared a quarterly dividend of $0.175 per share, unchanged from the third quarter of 2025.

Shares rose between 2% and 3.7% in premarket and morning trading following the report. At least one analyst raised their price target on the stock to $48, citing higher gold prices, lower diesel costs, and free cash flow above $3 per share, while reiterating a buy rating. A separate development to watch: a key feasibility study for Barrick's Fourmile gold deposit in Nevada risks delays as the company evaluates new development options for the asset.