Barrick reports US$1.6B first-quarter profit, up from US$474M a year earlier

This undated file photo shows Barrick Goldstrike Mines' Betze-Post open pit near Carlin, Nev. AP Photo/Elko Daily Free Press, Adella Harding, file)

TORONTO — Barrick Mining Corp. reported its first-quarter profit more than tripled compared with a year ago, helped by soaring gold prices.

The company, which keeps its books in U.S. dollars, says it earned US$1.60 billion or 96 cents US per diluted share for the quarter ended March 31. The result compared with a profit of US$474 million or 27 cents US per share in the same quarter a year earlier.

On an adjusted basis, Barrick says it earned 98 cents US per share in its latest quarter, up from an adjusted profit of 35 cents per share in the same quarter last year.

Revenue totalled US$5.22 billion, up from US$3.13 billion in the first quarter of 2025.

Barrick says gold production in the quarter totalled 719,000 ounces compared with 758,000 ounces a year ago, while gold sales amounted to 748,000 ounces, down from 751,000 ounces a year earlier.

The company’s realized gold price was US$4,823 per ounce, up from US$2,898 in the same quarter last year.

This report by The Canadian Press was first published May 11, 2026.

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