Barrick Gold Corp
XMUN:ABR
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Barrick Gold Corp
XMUN:ABR
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Mercadolibre Inc
XBER:MLB1
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Barrick Gold Corp
Barrick Gold is one of the world’s large gold mining companies. It explores for ore, builds and runs mines, and then processes rock to produce gold and some copper. The company does not make finished consumer products; it sells raw metal output from its mines into the global commodities market, where buyers include refiners, bullion traders, industrial users, and, for some gold, financial and central-bank channels. Its main business is finding mineral deposits, extracting ore, and turning that ore into saleable metal. Barrick earns money when it sells gold and copper, so its results depend on how much metal it can produce, the quality of its reserves, and the market prices it receives. Because mining requires heavy equipment, energy, permits, and long development timelines, the business is capital intensive and tied to geology, operating execution, and access to stable mining jurisdictions. What makes Barrick’s role different is that it sits near the start of the metals supply chain. It is not a jeweler, a refiner, or a manufacturer; it is the company that takes mineral deposits out of the ground and turns them into tradable commodities. That gives it exposure to global metal demand and prices, while also making its success depend on owning strong mines and keeping production reliable over long periods.
Barrick Gold is one of the world’s large gold mining companies. It explores for ore, builds and runs mines, and then processes rock to produce gold and some copper. The company does not make finished consumer products; it sells raw metal output from its mines into the global commodities market, where buyers include refiners, bullion traders, industrial users, and, for some gold, financial and central-bank channels.
Its main business is finding mineral deposits, extracting ore, and turning that ore into saleable metal. Barrick earns money when it sells gold and copper, so its results depend on how much metal it can produce, the quality of its reserves, and the market prices it receives. Because mining requires heavy equipment, energy, permits, and long development timelines, the business is capital intensive and tied to geology, operating execution, and access to stable mining jurisdictions.
What makes Barrick’s role different is that it sits near the start of the metals supply chain. It is not a jeweler, a refiner, or a manufacturer; it is the company that takes mineral deposits out of the ground and turns them into tradable commodities. That gives it exposure to global metal demand and prices, while also making its success depend on owning strong mines and keeping production reliable over long periods.
Strong quarter: Barrick said Q1 was a strong quarter operationally and financially, with gold production above guidance, copper production in line, and costs better than planned.
Cash flow surge: Free cash flow rose 320% year-over-year to $1.6 billion, while attributable free cash flow rose 195% year-over-year to $1.2 billion.
Capital returns: The board approved a $0.175 quarterly dividend and a $3 billion share buyback, while management said the 50% free-cash-flow dividend policy remains unchanged.
Guidance unchanged: Full-year 2026 production and cost guidance stayed unchanged, with Q2 gold production expected at 730,000 to 770,000 ounces.
Growth pipeline: Lumwana, Fourmile and PV were described as on track, and the North American gold assets IPO remains targeted for completion by the end of 2026.
Reko Diq review: Barrick said the Reko Diq budget remains intact, but the project is under a 12-month review amid contractor and security issues, with holding costs around $20 million a month.
