B 6-K SEC Filing Analysis

Latest settled — T+5d ⚠ clustered

B ▼ -13.62% at T+5d

LONG call ✗ call lost -13.62% · α vs SPY -13.53% · entry $47.00 → $40.60

Next anchor: T+20d due 6d ago

Last close $40.20 (close Jun 12) · -14.47% from $47.00 entry

Entry anchored
May 11, 03:33 PM ET
via Databento tick

T+1d

-2.45%

call -2.45% · α -2.31%

$45.85

settled 5w ago

T+5d

-13.62%

call -13.62% · α -13.53%

$40.60

settled 28d ago

T+20d

—

call — · α —

—

due 6d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

Barrick Mining Corp reported strong Q1 2026 results, with gold production of 719,000 ounces beating guidance of 640,000-680,000 ounces. Revenue surged 67% YoY to $5.22 billion, driven by a 66% increase in realized gold prices to $4,823/oz. Operating cash flow rose 111% to $2.55 billion and attributable free cash flow increased 195% to $1.21 billion. The company maintained full-year 2026 guidance, announced a new $3.0 billion share buyback program, and is progressing with the North American Barrick IPO targeting completion by year-end. However, gold production declined 17% sequentially from Q4 2025 due to lower grades at Nevada Gold Mines and Pueblo Viejo, and copper production fell 21% sequentially due to a planned shutdown at Lumwana.

Actionable Insight

Barrick's Q1 beat on production and costs, combined with surging gold prices, drove exceptional cash flow generation. The new $3B buyback signals management's confidence in the stock's value, especially ahead of the North American IPO. However, the sequential production decline and elevated costs (TCC +9% YoY) warrant monitoring. The Reko Diq slowdown introduces uncertainty around a key growth project. Traders should watch for continued production ramp-up in Q2-Q4 and IPO execution details.

Key Facts

Q1 2026 gold production of 719,000 ounces beat guidance of 640,000-680,000 ounces
Revenue of $5.22 billion, up 67% YoY from $3.13 billion
Net earnings per share of $0.96, up 256% YoY; adjusted EPS of $0.98, up 180% YoY
Operating cash flow of $2.55 billion, up 111% YoY
Attributable free cash flow of $1.21 billion, up 195% YoY
Realized gold price of $4,823/oz, up 66% YoY; market gold price averaged $4,873/oz
Gold AISC of $1,708/oz, down 4% YoY
Board authorized new $3.0 billion share buyback program over 12 months
Quarterly dividend of $0.175 per share declared
Full-year 2026 gold production guidance maintained at 2.90-3.25 million ounces
North American Barrick IPO on track for completion by end of 2026
Gold production expected to increase sequentially; Q2 guidance of 730,000-770,000 ounces
Reko Diq project development slowed due to security issues in Pakistan

Financial Impact

Revenue $5.22B, net earnings $1.60B, operating cash flow $2.55B, attributable free cash flow $1.21B

revenuenet earningsoperating cash flowfree cash flowgold productiongold price realization

Risk Factors

Gold price volatility could impact future earnings and cash flow
Sequential production decline of 17% in gold and 21% in copper from Q4 2025
Gold TCC increased 9% YoY to $1,327/oz due to higher royalties and inflationary pressures
Reko Diq project slowed due to security issues, creating uncertainty around capital spend
Loulo-Gounkoto ramp-up costs and purchase price allocation impacts may persist
North American IPO execution risk and potential dilution concerns

Market Snapshot

Exchange

NYSE

Sector

Gold and Silver Ores

Analyst Consensus

83% bullish (18 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
6-K Filing (Primary)	0001193125-26-216613
Document: d145525dex991.htm	0001193125-26-216613
Document: d145525d6k.htm	0001193125-26-216613
Document: 0001193125-26-216613-index-headers.html	0001193125-26-216613
Document: 0001193125-26-216613-index.html	0001193125-26-216613
Document: 0001193125-26-216613.txt	0001193125-26-216613

6 reports for B

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for B — sortable, filterable
	Type				Now
Jun 14, 2026 today	Institutional Cluster MIXED ★ 5/10	—	awaiting T+5	—	—
May 11, 2026 4w ago	6-K BULLISH ★ 7/10	$47.00 $40.60	▼ −13.62%	▼ −13.53%	$40.20 (−14.47%)
May 11, 2026 4w ago	Press Release BULLISH ★ 8/10	$47.00 $40.60	▼ −13.62%	▼ −13.53%	$40.20 (−14.47%)
May 11, 2026 4w ago	Press Release NEUTRAL ★ 4/10	$47.00 $40.60	▼ −13.62%	▼ −13.53%	$40.20 (−14.47%)
Apr 28, 2026 6w ago	Press Release MIXED ★ 6/10	$39.17 $38.34	▼ −2.12%	▼ −3.81%	$40.20 (+2.63%)
Apr 10, 2026 9w ago	Press Release NEUTRAL ★ 3/10	$43.55 $43.30	▼ −0.57%	▼ −5.08%	$40.20 (−7.69%)

US Market Status

Market Closed — Opens in 4h 45m

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