Barrick Mining Corporation

The Government of Tanzania has renewed the Special Mining Licenses for Barrick Mining Corporation's North Mara Gold Mine for another 15 years, the company announced. The renewal allows North Mara to keep investing in the mine, its people, and its communities for the long term. Since Barrick took over operations in 2019, Tanzanian nationals have come to make up 96% of the workforce of approximately 3,000 in the country, with 47% drawn from communities surrounding the mines. Barrick has injected approximately $5.3 billion into the Tanzanian economy since 2019, including $1.2 billion in 2025 alone through taxes, royalties, salaries, dividends and local procurement, while more than 90% of procurement is sourced from Tanzanian registered companies. Barrick and the Government of Tanzania established Twiga Minerals in 2019 to operate the North Mara and Bulyanhulu mines together, with the Government holding a 16% interest in each mine and the two partners splitting the economic benefits equally.

Barrick Mining has reached an agreement with unions at its Loulo-Gounkoto gold complex in Mali, heading off strikes that threatened to disrupt operations beginning Monday. The agreement covers workers at the mine as well as Food & Events Africa, a contractor providing catering and support services, and resolves grievances over overtime pay, expense reimbursements and implementation of existing labor agreements. Food & Events Africa workers had planned a five-day strike starting Sept. 28, while workers at Barrick's Somilo and Gounkoto units had separately threatened four-day stoppages. The deal removes a near-term operational risk at one of Barrick's key African gold assets just as Loulo-Gounkoto is recovering from a prolonged shutdown; the complex only recently returned to Barrick's control following a bitter dispute with Mali's government, and Barrick said Loulo-Gounkoto produced about 190,000 ounces (7.18 ton) of gold during the first half of 2026. Barrick suspended operations in January 2025 and pursued international arbitration before Mali placed the complex under provisional state administration, and the two sides reached a settlement in November 2025 that returned operational control to the company.

Newmont Corporation logged a record quarterly free cash flow of $2.2 billion in the second quarter of 2026, up 29% year over year, on net cash provided by operating activities of $2.9 billion, roughly 23% higher than the year-ago quarter. On its second-quarter call, the company said it expects to keep delivering strong free cash flows, helped by higher realized gold prices and its asset portfolio. Among peers, Barrick Mining Corporation reported second-quarter operating cash flow of $1.7 billion, up 28% year over year, and free cash flow of $515 million, up 30%, while its attributable free cash flow reached $1.35 billion in the first half of 2026, up 211% year over year. Agnico Eagle Mines Limited generated record second-quarter free cash flow of roughly $1.3 billion on operating cash flow of about $2.1 billion, up around 16%. Newmont shares have rallied 52.4% in the past year, and the Zacks Consensus Estimate implies 2026 and 2027 earnings growth of 31.9% and 10.9%, respectively.

Barrick Mining Corporation shares rose 1.2% to $43.06 in pre-market trading after coverage was initiated with a Buy rating, with the source of that rating not identified in the announcement. The new recommendation coincided with Bernstein lowering its price target for Barrick to $56.50 from $61, a figure that remains above the pre-market share price. Separately, Barrick reported that second-quarter 2026 net earnings increased by approximately 50% compared with the same period a year earlier, though the company did not announce new financial guidance. The moves came as gold prices recovered above $4,300 per ounce after the Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%–4.00%, its first increase in three years, with policymakers indicating the possibility of another increase before the end of 2026. Major US equity indices also advanced, with the S&P 500 up 0.9%, the Dow Jones up 0.8% and the Nasdaq up 1.1%.

Newmont Corporation reported a 13% year-over-year decline in second-quarter attributable gold production to 1.29 million ounces, partly due to divestments and lower output from Cadia. The company expects third-quarter production to be largely in line with the second quarter, and full-year 2026 gold production of about 5.26 million ounces, down from 5.89 million ounces in 2025. Lower output from Penasquito, Cadia, Nevada Gold Mines, and Pueblo Viejo will be partly offset by contributions from the new Ahafo North mine. As a result, Newmont forecasts all-in-sustaining costs of $1,680 per ounce for 2026, up from $1,358 per ounce in 2025, due to lower sales volumes, higher royalties, and deferred capital. In contrast, Barrick Mining Corporation's attributable gold production rose 11% sequentially to 796,000 ounces in the second quarter, exceeding guidance, while Agnico Eagle Mines Limited produced 855,816 ounces, down 1% year over year, with a pit wall event expected to reduce output at Canadian Malartic by 60,000 to 80,000 ounces in the second half of 2026.

Barrick Mining and Newmont Corporation have reached a landmark agreement to resolve all disputes over their Nevada Gold Mines joint venture, with Newmont paying Barrick $1.95 billion in cash and both companies contributing key properties to the venture. The deal also secures Newmont's consent for Barrick's planned IPO of its North American assets, which remains on track for year-end 2026, with Mark Hill set to lead the new standalone company. In Q2 2026, Barrick reported revenue of $5.29 billion, producing 796,000 ounces of gold at an all-in sustaining cost of $1,866 per ounce, while Newmont generated $2.9 billion in operating cash flow and a record $2.20 billion in free cash flow, producing 1.29 million ounces at a lower cost of $1,621 per ounce. Analysts have responded positively, with Barclays raising Barrick's price target to $42 and CIBC lifting Newmont's to $170. Hedge fund sentiment diverged, with Barrick's institutional holders steady at 75 and Newmont's rising from 69 to 82 in Q1 2026.

Moderna delivered one of the largest single-session moves for an S&P 500 company, closing 177% higher at $174.38 on Wednesday after reporting positive late-stage data for its personalized cancer vaccine. The stock pulled back over 23% on Thursday before adding more than 10% so far on Friday, leaving it on course for a gain of around 135% over the week. The Phase 3 trial evaluated Moderna's intismeran alongside Merck's Keytruda in advanced skin cancer, and met its primary goal of recurrence-free survival, with a key secondary endpoint on distant metastasis-free survival also met and no new safety signal reported. Crypto-exposed equities rallied hard this week after bitcoin surged on the U.S. Treasury's decision to at least double the size of its long-dated bond buyback operations, alongside supportive comments on the sector from President Donald Trump. The Treasury raised the maximum per-operation size from $2 billion to at least $4 billion for the 10-to-20-year and 20-to-30-year sectors, effective Sept. 9 through Nov. 4. Bitcoin is currently above $77,000, having hit a high of $79,461 earlier in Friday's session. As a result, Strategy has risen 25.9% over the week, with Marathon Digital up 22.5%, Coinbase 23.1% higher, Circle up 16.3%, Galaxy Digital 12.3% higher and Robinhood up 9.7%. The same Treasury announcement also lifted metals producers, with the dollar weakening and precious metal prices moving higher. Agnico Eagle leads the group so far on Friday with an 18.4% gain over the week, followed by Barrick at 15%, Freeport-McMoRan up 14% and Newmont 13.3% higher. The dollar has declined, with spot gold gaining more than 2% on Friday and over 6% in the past week. Estée Lauder jumped more than 16% on Wednesday and is set to finish the week up around 15.9% after fourth-quarter results came in ahead of expectations. Sales rose 6%, beating consensus of 4%, while adjusted earnings of $0.39 per share topped the $0.32 expected. Management pointed to share gains in mainland China and growth across all product categories except hair care, alongside continued progress on cost-cutting through its One ELC initiative and Profit Recovery and Growth Plan. Canaccord analyst Susan Anderson raised her price target for the stock to $90 from $85, maintaining a Hold rating following the release. Walmart is the week's notable loser, sinking 9.2% on Thursday and down a further 0.9% so far on Friday after second-quarter results that beat on the headline numbers but disappointed on the metric that mattered most. Comparable sales at Walmart-only U.S. stores excluding gas grew 2.6%, well short of the 3.67% consensus and the slowest U.S. sales growth in six years. Mizuho analyst David Bellinger described the outcome as a worst-case scenario, calling it a very messy print and one of the biggest misses in years from the retailer.

Barrick Mining's dividend yield has crossed 2%, supported by strong second-quarter earnings and a settlement with Newmont that resolves governance disputes at their Nevada Gold Mines joint venture. The company reported free cash flow of $1.7 billion, up 28% year over year, and earnings per share of $0.73, up 55%. Under the agreement, Newmont will pay Barrick $1.95 billion in cash within 30 days and consent to Barrick's planned IPO of its North American gold assets. Barrick's dividend policy includes a quarterly base dividend of $0.175 per share plus a potential year-end performance top-up, with a payout ratio of 24%.

Barrick Mining and Newmont have signed a new agreement to finalise their Nevada Gold Mines joint venture, ending all outstanding disputes and consolidating previously excluded projects. The deal brings Barrick's Fourmile and Newmont's Fiberline and Mike developments into NGM, creating a gold asset of nearly 100 million ounces in Nevada. Newmont will pay Barrick $1.95 billion in consideration, and the companies have updated the joint venture's governance under a modernised agreement. Newmont also approved Barrick's plan to float its North American gold assets in an IPO targeted for later this year, with Mark Hill set to become CEO of the new company. Barrick reported second-quarter gold production rose 11% to 796,000 ounces, copper production reached 56,000 tonnes, and financial results showed revenue of $5.29 billion, net earnings of $1.22 billion, and adjusted net earnings per share of $0.82, up 74% year-on-year.

Barrick Mining Corporation reported a jump in second-quarter profit. Net income reached $1.217 billion, or $0.73 per share, up from $811 million, or $0.47 per share, a year earlier. Adjusted earnings came to $1.363 billion, or $0.82 per share. Revenue surged 43.8% to $5.292 billion from $3.681 billion.

Midland Exploration Inc., in partnership with Barrick Gold Inc., has commenced an exploration program on the Lewis project in Quebec's Abitibi region. The 2026 program, designed by operator Barrick, includes geological mapping across about 76 linear kilometres and a till sampling survey of 167 sites planned for September. The Lewis project consists of 154 exclusive exploration rights covering roughly 86 square kilometres and is subject to an option agreement signed with Barrick in November 2025. The work aims to refine geological and structural knowledge to evaluate potential for orogenic and magmatic-hydrothermal gold mineralization, with revisits planned for the Red Giant and Golden Nest showings.

The VanEck Gold Miners ETF is the recommended choice for investors seeking to benefit from gold's rally in 2026, according to an analysis comparing it with the SPDR Gold Shares ETF. The VanEck Gold Miners ETF has delivered superior long-term returns, with annualized gains of 37.5%, 19%, and 11.6% over the 3-, 5-, and 10-year periods, compared to 27.7%, 17.5%, and 11.4% for the SPDR Gold Shares ETF. While the SPDR Gold Shares ETF provides direct exposure to physical gold with lower volatility and a 0.4% expense ratio, the VanEck Gold Miners ETF offers a more volatile play on gold mining equities with a 0.51% expense ratio and a dividend yield of 0.9%. The analysis notes that gold mining stocks benefit from operating leverage when gold prices rise, and the VanEck Gold Miners ETF has outperformed the SPDR Gold Shares ETF in all time frames except the past three months, during which it declined 12.4% versus a 6.7% drop for the SPDR Gold Shares ETF as gold retraced some gains.

Barrick Mining Corporation has agreed to buy a 9.9 percent stake in Kingfisher Metals Corp. through an approximately C$20.9 million private placement. The Toronto-based miner will subscribe for about 15.5 million units of Kingfisher at C$1.35 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant exercisable at C$1.70 for two years. Following the deal, Barrick will hold about 9.9 percent of Kingfisher shares on a non-diluted basis and 14.1 percent on a partially-diluted basis, assuming the exercise of all warrants, while currently owning no Kingfisher shares. The companies will also enter into an investor rights agreement granting Barrick anti-dilution and information rights as long as it holds at least 5 percent ownership, and restricting Kingfisher from selling any interest in its Highway 37 Project in British Columbia for two years without Barrick's consent. Barrick agreed to an 18-month lock-up on its Kingfisher shares, a two-year standstill limiting it to 15 percent ownership, and to vote its shares in line with Kingfisher's board recommendations, while also forming a technical committee to provide support for the 2027 and 2028 drilling seasons at Highway 37.

Bank of America Securities’ head of US equity and quantitative strategy Savita Subramanian recommends investors ditch cap-weighted index funds and rotate into cyclical stocks, arguing that corporate earnings are surging while cyclicals remain cheap. She noted that S&P 500 earnings growth is tracking around 20% this year, well above the initial 15% consensus, and that total US corporate profits hit $4.4 trillion in the first quarter of 2026, up 12.8% year over year. Subramanian favors industrials, energy, and materials, highlighting names like Caterpillar, which saw revenue climb 22.2% to $17.41 billion, Applied Materials, which guided calendar 2026 equipment growth above 30%, and Barrick Mining, which posted record operating cash flow of $2.73 billion and hiked its dividend 40% despite its stock falling 14.6% year to date. She cautioned that hot nominal GDP could keep the Federal Reserve tighter for longer, but believes cyclical earnings growth can outpace the pressure on valuations.

Barrick has dropped 17% this year while gold soars, leaving a 50% gap between its $36 price and Wall Street's $56 target. Leadership changes, a $200 million Mali dispute payment, and Pakistan security setbacks weigh on the stock despite record Q1 free cash flow of $1.2 billion. CEO Mark Hill's planned North American spinout, a $3 billion buyback, and a forward P/E of 9 form the bull case for patient investors.

Gold prices logged their steepest quarterly decline in 13 years, with spot prices falling 15% in the second quarter of 2026, the worst drop since the second quarter of 2013. The selloff was driven by rising inflation concerns following the Middle-East conflict, which pushed energy prices higher and raised the likelihood of an interest rate hike by central banks. In the United States, traders are pricing in a 65% chance of a rate hike in September, per the CME FedWatch tool. The recent correction may have created an attractive entry point into high-quality gold mining stocks for long-term investors, including DRDGOLD Limited, Newmont Corporation, and Barrick Mining Corporation. DRDGOLD remains on track to achieve the upper end of its 2026 production guidance of 140,000 to 150,000 ounces while maintaining a debt-free balance sheet, Newmont ended the first quarter of 2026 with approximately 12.8 billion dollars in liquidity, and Barrick Mining reported roughly 7.1 billion dollars in cash and cash equivalents.

Agnico Eagle Mines posted record free cash flow of $4.4 billion in 2025, more than doubling the prior year's figure, driven by higher gold prices and operational efficiencies. First-quarter free cash flow rose 23% year over year to roughly $732 million, while operating cash flow reached about $1.3 billion, up 29%. The strong cash generation supports investments in growth projects including Odyssey, Detour Lake, Hope Bay, Upper Beaver and San Nicolas, and allows for enhanced shareholder returns and debt reduction. Among peers, Newmont's first-quarter free cash flow surged 161% to $3.1 billion, and Barrick's attributable free cash flow jumped 195% to around $1.2 billion.

Jefferies added Barrick to a buy list of miners it expects to benefit from rising copper prices tied to data center and power spending, not gold. The firm named Barrick, Kinross, Endeavour Mining, and Capstone Copper as buy-rated names on June 9, 2026, citing a structural copper supply deficit and a U.S. capital-spending cycle driven by AI infrastructure. Barrick’s copper output rose 11 percent to 49,000 metric tons in the first quarter, and the company is advancing the Lumwana expansion in Zambia and the Reko Diq copper-gold project in Pakistan, which former CEO Mark Bristow said could generate about $74 billion in free cash flow over 37 years. A single one-gigawatt AI data center can consume up to 50,000 metric tons of copper, while new mines take a decade to permit and build, keeping the market in a projected cumulative deficit near three million tonnes by 2036. Barrick also generated $1.21 billion in attributable free cash flow in the first quarter, up 195 percent from a year earlier, and approved a $3 billion buyback.

Barrick Mining is being viewed as a safe haven gold stock as geopolitical tensions intensify and gold prices rise. The company recently reported earnings per share that surpassed analyst expectations, adding operational strength to its defensive appeal. Barrick Mining trades on the NYSE under ticker B, with its share price at US$38.18, about 26% below the consensus analyst target of US$51.31. The stock is described as trading close to estimated fair value, though it has declined 6.1% over the past 30 days. A key flagged risk is an unstable dividend track record, which income-focused investors may want to scrutinize.

Barminco, the underground mining division of Perenti, has secured a contract valued at A$275 million, or $192 million, to deliver mining services at Barrick Mining's Fourmile Project in Nevada. The agreement spans 45 months, with operations set to commence in July 2026. The Fourmile site, owned entirely by Barrick, is situated next to the Goldrush Project, where Barminco is already engaged with Nevada Gold Mines, a joint venture between Barrick, which holds a 61.5% stake, and Newmont, owning 38.5%. Under the newly signed contract, Barminco will initiate development of the twin Bullion Hill portals as part of an extensive 16-kilometer underground development, alongside ground support, surface facilities and other mining services.