Barrick Mining stock weighs earnings growth against higher costs

Published on 11/11/2026 at 12:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barrick Mining stock weighs stronger quarterly earnings against higher production costs. The company kept its 2026 output outlook unchanged.

Quarterly growth meets cost pressure

Third-quarter revenue rose 22 percent to 5.07 billion US dollars.
Adjusted earnings per share increased 41 percent to 0.82 US dollars.
Barrick kept its 2026 gold and copper production ranges unchanged.
Higher diesel prices, royalties and lower grades lifted gold AISC.

Barrick Mining, CA06849F1080, Illustration mit AI erstellt.

Barrick Mining reported stronger earnings for the third quarter ended September 30, 2026, while higher operating costs kept pressure on margins. The company released the results on November 9 in its third-quarter results announcement.

Barrick Mining stock traded at 36.23 euros on Lang & Schwarz at 12:44 CET on Wednesday, November 11, 1.48 percent above the Xetra close of Tuesday, November 10. The comparison uses the prior Xetra session because the German market was still open.

Revenue and adjusted earnings advance

Revenue increased 22 percent year over year to 5.07 billion US dollars. Net earnings rose 1 percent to 1.32 billion US dollars, or 0.80 US dollars per share. Adjusted net earnings reached 1.35 billion US dollars, lifting adjusted earnings per share 41 percent to 0.82 US dollars from 0.58 US dollars a year earlier.

Attributable adjusted EBITDA increased 22 percent to 2.47 billion US dollars, while operating cash flow reached 2.49 billion US dollars. Attributable free cash flow was 642 million US dollars, compared with 1.154 billion US dollars in the prior-year quarter.

Output holds while costs rise

Gold production reached 816,000 ounces, 3 percent above the second quarter but 2 percent below the year-earlier period. Barrick said extreme weather at Veladero and delayed access to high-grade material at North Mara weighed on output; access to that material is expected in the fourth quarter.

Gold all-in sustaining costs rose 24 percent year over year to 1,911 US dollars per ounce. Barrick attributed the increase to lower grades processed, higher royalties linked to stronger realized gold prices and elevated diesel costs. Copper production fell 9 percent year over year to 50,000 tonnes, while copper all-in sustaining costs rose 44 percent to 4.52 US dollars per pound.

Guidance and shareholder returns

Barrick left its 2026 production outlook unchanged at 2.90 million to 3.25 million ounces of gold and 190,000 to 220,000 tonnes of copper. Gold all-in sustaining cost guidance also remains at 1,760 to 1,950 US dollars per ounce. Copper cost indicators are expected to remain within or near the upper end of their guidance ranges.

The company returned 1.04 billion US dollars to shareholders in the quarter, including 761 million US dollars in share repurchases and a quarterly dividend of 0.175 US dollars per share. The dividend is scheduled for payment on December 15 to shareholders of record on November 30.

Barrick Mining stock therefore faces a mixed operating signal: stronger metal prices and adjusted earnings support cash generation, while rising unit costs raise the importance of fourth-quarter execution. The unchanged production outlook provides continuity, but it leaves limited room for operational disruptions or further cost inflation.

The Barrick Mining stock remains linked to developments across gold and copper markets.

North American equities and commodities continue to shape the broader S&P/TSX Composite market environment.

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