Barrick Mining $GOLD Q1 EPS $0.98 beats estimate by 21%; gold output 719k oz tops upper guidance

Barrick Mining ($GOLD) reported Q1 2026 adjusted EPS of $0.98, surpassing the Wall Street consensus of $0.81 by 20.9%. Revenue came in at $5.22 billion, beating the $4.84 billion estimate by 7.9%. Gold production reached 719,000 ounces — 5.7% above the top end of the 640,000–680,000 oz guidance range. The stock rose in premarket trading on the results.

Production Outperformance Is the Standout

For a gold miner, volume outperformance directly translates to revenue and margin upside when realized prices are elevated, as they have been throughout 2026. Gold prices have been supported by elevated geopolitical risk — the ongoing Iran conflict — and continued central bank buying. The combination of volume and price tailwinds drove the outsized 20.9% EPS beat.

Guidance Maintained

Management reaffirmed 2026 full-year production guidance, signaling Q1's outperformance reflects operational improvement rather than a one-quarter pull-forward. Whether Q2 sustains similar throughput at Barrick's mines in Nevada, the Dominican Republic, and Africa is the key watch point.

What's Next

Gold's macro backdrop remains constructive: central bank demand, geopolitical uncertainty, and Fed easing expectations underpin prices. Barrick's Q2 2026 earnings are expected in August. Full results: Yahoo Finance Earnings Live.

Not investment advice. Verify all figures with primary sources before acting.