Barrick Mining to Post Q2 Earnings: What's in the Cards for the Stock?

B’s shares have shot up 78% over the past year, outperforming the Zacks Mining – Gold industry’s 29.7% increase.

Image Source: Zacks Investment Research

Let’s see how things are shaping up for this announcement.

What do B’s Revenue Estimates Indicate?

The Zacks Consensus Estimate for Barrick’s second-quarter consolidated sales is currently pegged at $4,487.7 million, calling for an increase of 21.9% from the year-ago quarter’s tally.

Factors Shaping B’s Q2 Results

Higher realized gold prices are likely to have supported the company’s performance in the second quarter. While gold prices have pulled back sharply from their January 2026 highs, they remain supportive. 

Heightened geopolitical tensions, a weaker U.S. dollar and tariff-related worries drove bullion to a record high of nearly $5,600 per ounce in late January. Since then, gold has pulled back sharply due to inflation concerns triggered by a surge in crude oil prices amid Middle East tensions. While gold started April near $4,800 per ounce, prices tumbled to $4,500 per ounce around the end of May. 

Bullion continued to retreat in June, with prices slipping below $4,000 per ounce to a near eight-month low amid rate-hike expectations and a stronger greenback, despite reduced inflation concerns following the interim agreement between the United States and Iran. 

Notwithstanding the pullback, Barrick is expected to have gained from higher year-over-year realized prices.  The consensus estimate for B’s average realized gold price is pinned at $4,507 per ounce for the second quarter, indicating a roughly 37% year-over-year increase. 

Higher production is expected to have aided B’s sales volumes in the second quarter. Barrick saw a 5% year-over-year and 17% sequential decline in first-quarter 2026 gold production to 719,000 ounces. However, it expects production to increase sequentially, with second-quarter gold production projected in the band of 730,000-770,000 ounces. The uptick is expected to be driven by the ramp-up across Loulo-Gounkoto and Goldrush mines, as well as mine sequencing across the NGM sites. 

The consensus estimate calls for a gold production of roughly 764,000 ounces in the second quarter, indicating a roughly 6% sequential rise. 

Barrick is likely to have faced headwinds from higher production costs in the second quarter. It saw an 8% sequential increase in all-in-sustaining costs (AISC) — a critical cost metric for miners — in the first quarter, reaching $1,708 per ounce. 

Cost pressures are expected to have continued in the second quarter. The consensus estimate for AISC for the second quarter is pegged at $1,884, indicating a roughly 12% year-over-year and 10% sequential increase.   

What Our Model Unveils for B Stock

Our proven model does not conclusively predict an earnings beat for Barrick this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.

Earnings ESP: Earnings ESP for B is -0.49%. The Zacks Consensus Estimate for the second quarter is currently pegged at 81 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: B currently carries a Zacks Rank #4 (Sell).

Stocks That Warrant a Look

Here are some companies you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:

Sociedad Química y Minera de Chile S.A. SQM, scheduled to release earnings on Aug. 18, has an Earnings ESP of +0.08% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The consensus estimate for SQM’s earnings for the second quarter is currently pegged at $2.03.

Ferguson Enterprises Inc. FERG, slated to release earnings on Aug. 10, has an Earnings ESP of +1.22% and carries a Zacks Rank #3 at present.

The consensus mark for FERG’s second-quarter earnings is currently pegged at $3.23.

Resideo Technologies, Inc. REZI, scheduled to release earnings on Aug. 12, has an Earnings ESP of +6.83%.

The Zacks Consensus Estimate for REZI's earnings for the second quarter is currently pegged at 68 cents. REZI currently carries a Zacks Rank #3. 

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."

Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research