Barrick Mining Corp (TSE: ABX) (NYSE: B) (ETR: ABR0) just reported first quarter results that exceeded analyst forecasts considerably.
The company produced 719,000 ounces of gold, clocking in above its guidance range of 640,000 to 680,000 ounces. Revenue reached US$5.22 billion while net earnings came in at US$1.6 billion or US$0.96 per share. Adjusted earnings per share stood at US$0.98, ahead of consensus estimates around US$0.78.
Barrick shares rose by approximately 8.5 per cent following the release on May 11. Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM), Barrick’s partner in the Nevada Gold Mines joint venture, also recorded modest share price gains amid the broader sector response.
Following the results, Barrick’s board authorized a US$3 billion share repurchase program. This initiative, inspired by perceived value in the stock among management, allows the company to buy back its shares in the open market.
These results and move comes as observers watch for Barrick’s planned initial public offering of its North American assets, targeted for completion by the end of 2026. The strong operational performance and cash flow from assets such as Nevada Gold Mines may help shape investor views on the new public entity, which would focus on operations in a stable jurisdiction.
This development from a major gold producer also aligns with positive activity among smaller companies in Nevada’s mining sector.
NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has delivered strong share price appreciation and recently earned a spot on the 2026 TSX Venture 50 list. The junior miner continues to report positive drill results at its Limousine Butte project as it advances toward its first gold-antimony mineral resource estimate. K2 Gold Corp (CVE: KTO) (OTCMKTS: KTGDF) (FRA: 23K), another Nevada operator, also earned inclusion on the list.
In addition, Nevada King Gold Corp (CVE: NKG) (OTCMKTS: NKGFF) is worthy of note. In 2025, it more than doubled its measured and indicated oxide gold resource at the Atlanta project to over 1 million ounces.
Barrick’s performance in Q1 has highlighted ongoing interest in Nevada operations among companies with varying valuations.
Barrick Gold is ripping higher after a monster Q1 2026.
– US $1.60B net profit (+256% YoY)
– Adjusted EPS of $0.98 huge beat
– Gold production hit 719K oz, above guidance$ABX.TO is helping drag the TSX into the green today as gold miners catch a strong bid.Gold bulls finally… pic.twitter.com/dtOe6qJT4t
— Brandon Wealth 🇨🇦 (@BrandonWealth) May 11, 2026
Read more: NevGold raises up to CAD$25M to fast-track Limo Butte development
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