Barrick Gold Corporation (NYSE: GOLD) saw its stock price surge nearly 9% on Monday, May 11, 2026, following the release of its first-quarter earnings report before the market opened. The company reported adjusted earnings per share of $0.35, surpassing the consensus estimate of $0.28, according to data from FactSet. Revenue came in at $3.2 billion, also above the expected $3.0 billion.
The strong performance was driven by higher gold production and favorable gold prices. Barrick reported gold production of 1.05 million ounces in Q1 2026, up from 1.01 million ounces in the same period last year. The average realized gold price was $2,350 per ounce, compared to $2,100 per ounce in Q1 2025.
CEO Mark Bristow attributed the results to operational efficiencies and cost controls. 'Our focus on operational excellence and disciplined capital allocation continues to deliver value,' Bristow said in a statement. The company also reaffirmed its full-year 2026 production guidance of 4.2 to 4.6 million ounces of gold.
Analysts at RBC Capital Markets raised their price target on Barrick stock to $28 from $26, citing the earnings beat and strong production outlook. The stock closed at $24.50 on Monday, up 8.97% from the previous close.
