B Stock Breaks Crucial Resistance For First Time Since September – CEO Says Barrick On Track To Meet FY26 Production Guidance

Barrick reiterated its FY 2026 gold production forecast of 2.90 million to 3.25 million ounces.

• The company reported a 22% increase in Q3 revenue to $5.07 billion, though it came in below Wall Street’s expectations of $5.13 billion.
• Q3 gold production fell due to extreme weather at Veladero mine in Argentina and delayed access to high-grade material at North Mara mine in Tanzania.
• Barrick’s net cash position at the end of September was about $900 million, up from $300 million a year earlier.

Barrick Mining (B) was on investors’ radar on Monday after the miner reiterated its full-year 2026 production outlook, following a 22% surge in third-quarter revenue driven by higher gold and copper prices.

B shares were up around 3.5% at the time of writing, breaking the 200-day moving average (200-DMA) for the first time since September 25.

Higher Gold Prices Lift Barrick's Q3 Earnings

Barrick reported a 22% increase in third quarter (Q3) revenue to $5.07 billion, though it came in below Wall Street’s expectations of $5.13 billion, according to Fiscal.ai. Adjusted earnings per share (EPS) surged 41% to $0.82, in line with consensus estimates. It declared a quarterly dividend of $0.175 per share.

The company produced 816,000 ounces of gold during the quarter, down 2%. Barrick cited the drop as the result of extreme weather at its Veladero mine in Argentina and delayed access to high-grade material at its North Mara mine in Tanzania.

However, higher gold prices supported earnings despite weaker production. According to a Reuters report, spot gold averaged $4,204.59 per ounce during the third quarter, up about 17.6% from a year earlier. Gold prices rose about 3.7% during the quarter.

Net Cash Position Grows Three-Fold

CEO Mark Hill highlighted Barrick’s operational improvements in four consecutive quarters before reiterating the company’s full-year production outlook. “We remain on track to achieve our full-year production guidance, and we head into the year’s final months with momentum, drive, and discipline.”

Barrick reiterated its FY 2026 gold production forecast of 2.90 million to 3.25 million ounces and copper output guidance of 190,000 to 220,000 tonnes. It generated $2.49 billion in operating cash flow and ended September with a net cash position of about $900 million, up from $300 million a year earlier.

Investors are also closely tracking Barrick’s proposed IPO of its North American gold assets, which could be delayed until January 2027 from its original year-end target.

Retail Turns ‘Extremely Bullish’ On B

Retail sentiment surrounding Barrick on Stocktwits shifted to ‘extremely bullish’ from ‘bullish’ territory over the past 24 hours, amid ‘high’ message volumes.

One user said they expect the stock to rise to $50, a 16% upside potential from current levels.

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B shares have shed more than 5% so far in 2026.

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