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Barrick Mining Q2 Adjusted Net Earnings and Revenue Rise; Reaches an Agreement with Newmont

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Barrick Mining (ABX.TO, B) reported second-quarter adjusted net earnings of $0.82 per basic share, compared with $0.47 per basic share a year earlier.

Analysts polled by FactSet expected $0.83 on average.

Revenue for the quarter ended June 30 was $5.29 billion compared with $3.68 billion a year earlier, the company added Monday.

The company reduced 2026 total attributable capital expenditure to $3.8 billion to $4.2 billion, from $4.0 billion to $4.45 billion previously, it said.

The company also declared a second quarter dividend of $0.175 per share, to be paid on Sept. 15, to shareholders of record at the close of business on Aug. 31, it added.

Additionally, the company reached an agreement with Newmont (NEM) to expand the assets in the Nevada Gold Mines Joint Venture, resolving all outstanding disputes related to the joint venture, it said. The companies will contribute excluded properties, including Barrick's Fourmile and Newmont's Fiberline and Mike developments, into the joint venture, and Newmont will pay the company a top-up payment of $1.95 billion, said the company.

Newmont has also given its consent to Barrick's proposed IPO of its North American gold assets, added Barrick.

The company's shares last traded Friday, closing down C$5.12, or 8.4%, to C$55.8 on the Toronto Stock Exchange.

Price: $56.05, Change: $-4.91, Percent Change: -8.05%

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