By Sam Boughedda

Investing.com -- Barrick Mining Corporation (NYSE: B) reported second-quarter earnings before the open on Monday, missing consensus expectations, sending its shares down around 5% premarket.

Adjusted earnings per share of $0.82 missed the analyst estimates of $0.94, while revenue of $5.29 billion fell short of the consensus estimate of $5.67 billion.

The company's revenue increased 44% YoY from $3.68 billion in the prior-year quarter. Gold production totaled 796,000 ounces, exceeding the guidance range of 730,000 to 770,000 ounces, driven by an ahead-of-schedule ramp-up at Loulo-Gounkoto and faster-than-expected recovery at Pueblo Viejo.

Net earnings rose 50% YoY to $1.22 billion, or $0.73 per share, up from $0.81 billion, or $0.47 per share, in the second quarter of 2025. Shares fell 2.7% following the results.

"We delivered our third quarter in a row with excellent operational and financial performance. We beat the top end of our gold production guidance and generated much higher earnings and cash flow than a year ago," said Mark Hill, President and Chief Executive Officer.

Operating cash flow increased 28% YoY to $1.70 billion. Gold cost of sales was $1,993 per ounce, up from $1,654 in the prior-year quarter, primarily due to lower grades processed at Carlin, Cortez, and North Mara, higher fuel costs, and higher royalties associated with the stronger realized gold price. All-in sustaining costs were $1,866 per ounce, up 11% compared to the second quarter of 2025.

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Barrick announced an agreement with Newmont to expand Nevada Gold Mines, with Newmont paying $1.95 billion cash within 30 days. The company maintained its full-year gold production guidance of 2.90 to 3.25 million ounces, while reducing total attributable capital expenditure to $3.8 billion to $4.2 billion from $4.0 billion to $4.45 billion previously.

The company declared a quarterly dividend of $0.175 per share and repurchased $1.2 billion in shares during the quarter. Barrick continues to expect completion of its North American gold assets IPO by year-end.

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