Barrick Mining Corporation · B · FY2024 Q3 · Calendar Q4 2024
Barrick’s Q3: stronger earnings, but production and cost risks remain
The supplied analysis supports a balanced view: stronger earnings, cash flow, higher gold prices, and advancing growth assets provide support, but low-end production guidance, sustaining-cost pressure, safety issues, and project and regulatory risks temper the outlook.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis emphasizes stronger adjusted earnings and cash flow, continued progress on growth assets, and a shift toward growth capital spending. It also adds greater focus on low-end production guidance, mine-grade pressure, safety, and sustaining-cost risks.
Guidance delta
Maintained; production guidance remains within the range but at its lower end.
Key takeaways
- Management highlighted a 33% rise in adjusted EPS and strong free cash flow.
- Higher gold prices and cost discipline supported profitability, while annual production guidance stayed at the low end of the range.
- Growth projects across Pueblo Viejo, Lumwana, Reko Diq, and Nevada advanced, alongside safety and closure-liability priorities.
- The main watchpoints are sustaining capital expenditure, mine grades, labor inflation, project execution, and regulatory exposure.
Management priorities
- Advance Pueblo Viejo recovery and throughput plans.
- Progress Fourmile, Reko Diq, Lumwana, and Nevada growth projects.
- Reduce closure liabilities and strengthen operating safety.
- Invest in automation, mobile fleets, tailings infrastructure, and renewable-energy projects.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Freedom Broker | Hold | Buy | Downgrade | Oct 22, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 21, 2026 |
| CIBC | Neutral | Outperform | Downgrade | Oct 16, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Sep 9, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 13, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Aug 12, 2026 |
| B of A Securities | Buy | Buy | Maintain | Aug 11, 2026 |
| UBS | Buy | Buy | Maintain | Jun 30, 2026 |
| Canaccord Genuity | Buy | Buy | Maintain | Feb 18, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Feb 9, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Sep 22, 2025 |
| Truist Securities | Hold | Hold | Maintain | Oct 8, 2024 |
| DA Davidson | Neutral | Buy | Downgrade | Oct 7, 2024 |
| Oppenheimer | Outperform | Outperform | Maintain | Jun 14, 2024 |
| Wolfe Research | Perform | Peer Perform | Maintain | Oct 11, 2022 |
| Alembic Global | Neutral | Overweight | Downgrade | Apr 11, 2022 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Jul 15, 2020 |
| Sidoti & Co. | Buy | Buy | Maintain | Mar 19, 2020 |
| Baird | Neutral | Neutral | Maintain | Jul 30, 2018 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 8, 2017 |
| Jefferies | Buy | Buy | Maintain | Aug 1, 2016 |
| Drexel Hamilton | Buy | Buy | Maintain | Jul 10, 2013 |
| Keybanc | Buy | Hold | Upgrade | Mar 11, 2013 |
Named analyst price targets
Upside is calculated against the persisted previous close $38.14. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| CIBC | Analyst unavailable | $49 | $40.55 | +28.5% | Oct 16, 2026 |
| Bernstein | Bob Brackett | $56.5 | $44.1 | +48.1% | Sep 9, 2026 |
| Barclays | Analyst unavailable | $42 | $41.24 | +10.1% | Aug 13, 2026 |
| Scotiabank | Tanya Jakusconek | $55 | $41.09 | +44.2% | Aug 12, 2026 |
| CIBC | Analyst unavailable | $57 | $41 | +49.4% | Aug 12, 2026 |
| Barclays | Analyst unavailable | $39 | $35.89 | +2.3% | Jul 15, 2026 |
| Scotiabank | Analyst unavailable | $57 | $36.47 | +49.4% | Jul 14, 2026 |
| RBC Capital | Analyst unavailable | $49 | $36.51 | +28.5% | Jul 9, 2026 |
| Barclays | Richard Garchitorena | $41 | $41.24 | +7.5% | May 21, 2026 |
| UBS | Analyst unavailable | $54 | $45.92 | +41.6% | May 12, 2026 |
| CIBC | Analyst unavailable | $63 | $41.16 | +65.2% | Apr 21, 2026 |
| UBS | Analyst unavailable | $50 | $38.59 | +31.1% | Mar 27, 2026 |
| UBS | Analyst unavailable | $55 | $45.66 | +44.2% | Feb 6, 2026 |
| CIBC | Analyst unavailable | $71 | $45.47 | +86.2% | Feb 4, 2026 |
| UBS | Analyst unavailable | $59 | $47.49 | +54.7% | Jan 30, 2026 |
| Scotiabank | Analyst unavailable | $63 | $52.9 | +65.2% | Jan 26, 2026 |
| Jefferies | Analyst unavailable | $55 | $41.04 | +44.2% | Dec 7, 2025 |
| BNP Paribas | Alan Spence | $50 | $40.91 | +31.1% | Dec 5, 2025 |
| UBS | Analyst unavailable | $47 | $41.34 | +23.2% | Dec 1, 2025 |
| Raymond James | Brian MacArthur | $42 | $39.54 | +10.1% | Nov 25, 2025 |
| RBC Capital | Analyst unavailable | $40 | $32.48 | +4.9% | Oct 27, 2025 |
| Scotiabank | Analyst unavailable | $43 | $31.53 | +12.7% | Oct 23, 2025 |
| UBS | Analyst unavailable | $39 | $34.68 | +2.3% | Oct 16, 2025 |
| CIBC | Analyst unavailable | $50 | $32.74 | +31.1% | Oct 10, 2025 |
| Raymond James | Analyst unavailable | $40 | $33.04 | +4.9% | Oct 10, 2025 |
| RBC Capital | Josh Wolfson | $38 | $35.36 | -0.4% | Sep 22, 2025 |
| UBS | Analyst unavailable | $35 | $30.07 | -8.2% | Sep 19, 2025 |
| Raymond James | Analyst unavailable | $32 | $29.46 | -16.1% | Sep 18, 2025 |
| Scotiabank | Tanya Jakusconek | $26 | $24 | -31.8% | Aug 13, 2025 |
| D.A. Davidson | Matt Summerville | $47.5 | $46.78 | +24.5% | Oct 28, 2024 |
| Truist Financial | Michael Ciarmoli | $47.5 | $46.48 | +24.5% | Oct 8, 2024 |
| Truist Financial | Michael Ciarmoli | $38 | $40.06 | -0.4% | Oct 4, 2024 |
| D.A. Davidson | Matt Summerville | $52 | $39.82 | +36.3% | Jul 30, 2024 |
| Oppenheimer | Christopher Glynn | $48 | $39.19 | +25.9% | Jun 14, 2024 |
| D.A. Davidson | Matt Summerville | $48 | $38.42 | +25.9% | Jun 13, 2024 |
| D.A. Davidson | Matt Summerville | $45 | $33.39 | +18.0% | Apr 18, 2024 |
| Oppenheimer | Analyst unavailable | $48 | $41.02 | +25.9% | Nov 29, 2022 |
| Truist Financial | Michael Ciarmoli | $29 | $31.01 | -24.0% | Oct 12, 2022 |
| Truist Financial | Analyst unavailable | $41 | $36.72 | +7.5% | Apr 19, 2022 |
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Start freeCompany context
Snapshot as of publicationBarrick Mining Corporation primarily focuses on the entire lifecycle of mineral assets, from their initial discovery and subsequent development to their extraction and eventual sale. The company actively explores for a variety of commodities, including precious metals like gold and silver, industrial metals such as copper, and other materials used for energy production. Previously identified as Barrick Gold Corporation, the organization officially adopted its current name, Barrick Mining Corporation, in May 2025. The company was founded in 1983 and has its corporate headquarters situated in Toronto, Canada.
Historical context
All B earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.9% | -20.6% | CRS: Aerospace Bookings Accelerate as Guidance Holds |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.3% | +4.7% | Dow’s Q3 growth and self-help gains support a steady Q4 outlook |
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
| SCCO Southern Copper Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.4% | -2.1% | Southern Copper: Record Q3 results, projects advance amid execution risks |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-26T05:50:43.312377+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T05:50:43.309751+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.