Barrick (B) Q2 2026 Earnings Call Transcript

Barrick Mining’s Q2 2026 earnings call was broadly positive for gold, with production of 796,000 ounces, 3% above guidance and 11% higher than Q1, while adjusted EPS of 82 cents matched consensus. Net earnings rose 50% year over year to $1.2 billion and attributable adjusted EBITDA increased 51% to $2.425 billion. The company also returned $1.5 billion to shareholders in the quarter and reiterated a $3 billion share repurchase authorization. The biggest strategic development was a $4 billion agreement with Newmont that resolves long-running disputes and folds the Mike and Fiberline properties into Nevada Gold Mines, improving the path for Barrick’s planned North American gold IPO by reducing friction and clarifying ownership. Management kept 2026 production guidance unchanged, cut Reko Diq capex, and said copper output should improve in the second half. Despite operational progress, safety remained a concern, and weather-related disruptions hit Veladero and Pueblo Viejo.