Barrick Mining 2Q Profit Rises on Higher Gold, Copper Prices

By Adriano Marchese

Barrick Mining logged a higher second-quarter profit as higher market prices for gold and copper drove revenue higher.

The Canada-based miner on Monday posted net income of $1.22 billion, or 73 cents a share, up from $811 million, or 47 cents a share, in the comparable quarter a year ago.

The higher profit was largely due to higher realized gold and copper prices in the quarter, where gold jumped 34% to an average of $4,417 an ounce, and copper rose 41% to $6.15 a pound.

Adjusted earnings were 82 cents a share. According to FactSet, analysts were expecting 83 cents a share.

Revenue came to $5.29 billion from $3.68 billion. The quarter's results were ahead of analyst expectations of $5.19 billion.

In the quarter, Barrick produced 796,000 ounces of gold, ahead of its own guidance range of 730,000 to 770,000 ounces, virtually unchanged from a year ago, but 11% higher than the previous quarter.

Copper production, on the other hand, fell 5% from the prior-year period to 56,000 metric tons in the period, but down 14% quarter-on-quarter as expected.

Write to Adriano Marchese at adriano.marchese@wsj.com

Corrections & Amplifications

This article was corrected at 08:36 a.m. ET to clarify that Barrick's second-quarter copper production fell 5% year over year and rose 14% sequentially. An earlier article incorrectly said copper production rose 2% year over year and fell 5% sequentially.

(END) Dow Jones Newswires

August 10, 2026 06:43 ET (10:43 GMT)