Barrick Mining (TSX:ABX,NYSE:B) has authorized US$3 billion share buyback program Its free cash flow nearly tripled in the first quarter after a supportive gold market and better-than-expected production.
Barrick produced 719,000 ounces of gold in the first three months of 2026, easily exceeding its guidance range of 640,000 to 680,000 ounces.
The operational beat was driven by strong underground mining and processing at the Nevada Gold Mines (NGM) and Veladero sites, as well as accelerated ramp-up at Lulo-Gouncoto. Quarterly revenue also increased 67 percent year-over-year to US$5.22 billion.
With US$1.21 billion in attributable free cash flow, a 195 percent increase from the same period in 2025, the company is moving aggressively to buy back its own stock.
“We started the year with another strong quarter,” said Mark Hill, President and CEO. earnings release. “Carrying on the momentum from the fourth quarter, we played it safe and outperformed our plan on both gold production and costs. Our performance enabled us to take even greater advantage of the higher gold price, generating significantly higher earnings and cash flows compared to a year ago.”
Barrick also managed to control its all-in sustaining costs (AISC) for gold to US$1,708 an ounce, a decline of 4 per cent from Q1 2025.
The company further confirmed that it North American IPO On track to close by the end of 2026.
Hill said, “Our focus for the year is clear: improving safety performance, providing production and cost guidance, advancing our development projects on time and on budget, and executing the North American Barrick IPO to unlock further shareholder value.”
Apart from gold, the company’s copper portfolio also declined. Quarterly production rose 11 percent to 49,000 tonnes, keeping the company on track to its annual targets.
However, copper AISC rose 20 per cent to US$3.67 per pound, mainly due to higher market prices and royalties due to increased site operating costs.
Barrick kept its full-year 2026 guidance steady, estimating 2.90 to 3.25 million ounces of gold and sequential quarter-on-quarter production increases as the year progresses.
Don’t forget to follow us @INN_Resource For real time news updates!
Securities Disclosure: I, Gian Liguid, do not have any direct investment interest in any of the companies mentioned in this article.
