Barrick Mining ABX-T beat Wall Street estimates for first-quarter profit on Monday as higher gold prices made up for lower production.
Gold prices hit record highs during the quarter on safe-haven demand and rate-cut bets, before easing after the U.S.–Israel conflict with Iran sparked a crude-led inflation scare, though prices stayed well above year-ago levels.
Prices of the yellow metal averaged US$4,673.5 per ounce in the first three months of 2026, up about 63 per cent from a year earlier.
Barrick’s quarterly average realized price for gold was at US$4,823 per ounce, compared with US$2,898 per ounce the previous year.
The company’s production, however, fell to 719,000 ounces for the three months ended March 31 from 758,000 ounces a year earlier.
The Canadian gold miner reported an adjusted first-quarter profit of 98 cents per share. Analysts on an average expected earnings of 78 cents per share, according to data compiled by LSEG.