Barrick Crushes Q1 Guidance with Record Gold Production

Barrick Mining Corporation reported strong first-quarter results for 2026, exceeding its gold production guidance and sharply increasing cash generation. The company produced 719,000 ounces of gold during the quarter, beating its planned range of 640,000 to 680,000 ounces.

The attributable free cash flow jumped 195% year-over-year to $1.21 billion, while revenue increased 67% to $5.22 billion and net earnings reached $1.60 billion. The company attributed the outperformance to 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.

Barrick's operational performance combined with higher gold prices to produce substantial earnings and cash-flow growth. The company also advanced two significant growth projects during the quarter, including the Fourmile project in Nevada and the Lumwana Super Pit Expansion. Barrick expects 2026 capital spending for Lumwana to be at the lower end of its $750 million to $850 million guidance range.