Barrick Q3 profit US$1.32B, adjusted EPS up 41%

Toronto-based Barrick Mining Corporation (TSX:ABX) reported third-quarter net earnings of US$1.32 billion, or 80 cents per share, on Monday, with revenue up 22 per cent from a year earlier to US$5.07 billion. Adjusted earnings were 82 cents per share, up 41 per cent, and the company reiterated its 2026 production guidance, Barrick said in its news release.

Net earnings were up one per cent from US$1.30 billion, or 76 cents per share, in the third quarter of 2025. Adjusted net earnings were US$1.35 billion, compared with US$0.98 billion, or 58 cents per share, a year earlier. Barrick said the adjusted figures are non-GAAP measures.

Barrick produced 816,000 ounces of gold, up three per cent from the second quarter, and 50,000 tonnes of copper. Production in North America was 497,000 ounces. Barrick said a record quarter at the Gold Quarry roaster at Carlin, the continued ramp-up of Goldrush at Cortez, and 16-per-cent higher output at Loulo-Gounkoto in Mali from the second quarter helped offset weather problems at Veladero in Argentina and delayed access to high-grade material at North Mara in Tanzania.

Costs rose. Gold cost of sales was US$1,950 per ounce, up from US$1,562, and all-in sustaining costs were US$1,911 per ounce, up from US$1,538. Barrick blamed lower grades, higher royalties tied to higher gold prices and elevated diesel prices. The company’s guidance assumes a gold price of US$4,500 an ounce and a West Texas Intermediate oil price of US$70 a barrel.

Barrick kept its full-year guidance at 2.90 million to 3.25 million ounces of gold and 190,000 to 220,000 tonnes of copper. It repurchased US$761 million of shares in the quarter under its US$3-billion buyback and declared a quarterly dividend of 17.5 US cents per share, payable Dec. 15 to shareholders of record on Nov. 30. Barrick ended the quarter with net cash of US$900 million, up from US$300 million a year earlier.

“For the fourth consecutive quarter, we improved safety, executed against our plans, strengthened Nevada Gold Mines, advanced our growth projects, and returned significant capital to shareholders,” president and CEO Mark Hill said in the release.

Gold stocks have been a swing factor on the Toronto market lately. As we reported on Oct. 22, a slide in gold and tech shares helped pull the S&P/TSX composite index down 351 points. Our Friday market close story has the latest index figures.

Figures are from Barrick’s Nov. 9, 2026 news release. All figures are in U.S. dollars.

If you find reporting like this useful, consider supporting Canada News Media, an independent Canadian newsroom with no corporate parent.

This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.