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, /PRNewswire/ -- U.S. Metal News News Commentary - Gold futures were higher on Monday, with December gold at $4,124.10 an ounce, up $49.20 or 1.21%, as of 10:20 a.m. ET, according to CME Group delayed quotes, after settling at $4,074.90 on Friday. The move comes alongside a run of third-quarter reports from gold producers, each of which said it is on track for its annual guidance, several of them alongside growing cash balances and shareholder returns. Active Companies from around the markets with current developments this week include: Barrick Mining Corporation (NYSE: B), AngloGold Ashanti plc (NYSE: AU), Agnico Eagle Mines Limited (NYSE: AEM), Centerra Gold Inc. (NYSE: CGAU), Alamos Gold Inc. (NYSE: AGI).
Central banks kept adding gold in the third quarter. In its Gold Demand Trends report for the third quarter of 2026, released on Nov. 3, the World Gold Council said central banks and other official institutions added a net 321 tonnes to reserves in the quarter, up 42% year on year and the highest quarterly total since the fourth quarter of 2024. Physically backed gold ETFs added 211 tonnes, with holdings rising to a record 4,256 tonnes. Mine production rose 3% to a third-quarter record of 1,071 tonnes. The gold price averaged US$4,262 an ounce over the quarter, according to the council.
At its Oct. 28 meeting, the Federal Open Market Committee voted 10 to 2 to keep the target range for the federal funds rate at 3-3/4 to 4 percent, stating that inflation remains elevated, with two members preferring a 1/4 percentage point increase. World Gold Council Senior Markets Analyst Louise Street described the outlook for gold through year-end as finely balanced, citing rising interest rates and mixed inflation expectations as potential headwinds, and geopolitical risk and financial market stress as factors that may lead participants to seek stability in gold.
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Barrick Mining Corporation (NYSE: B)
Barrick reported third-quarter results this morning, producing 816 thousand ounces of gold and 50 thousand tonnes of copper. Gold production was up 3% from the second quarter and 6% year over year, excluding divested assets, at all-in sustaining costs of $1,911 per ounce. Net earnings were $1.32 billion, or $0.80 per share, and adjusted net earnings per share increased 41% to $0.82.
The company said it returned $1.04 billion to shareholders through $761 million of share repurchases and a quarterly dividend of $0.175 per share, ended the quarter with net cash of $0.9 billion, up from $0.3 billion a year earlier, and reiterated full-year guidance of 2.90 to 3.25 million ounces of gold.
Mark Hill, President and CEO, said: "This quarter marks a full year of consistent delivery. For the fourth consecutive quarter, we improved safety, executed against our plans, strengthened Nevada Gold Mines, advanced our growth projects, and returned significant capital to shareholders."
AngloGold Ashanti plc (NYSE: AU)
AngloGold Ashanti reported third-quarter results on Nov. 5, with EBITDA up 12% to $1.57 billion, free cash flow of $722 million and year-to-date free cash flow of $2.6 billion. Net cash expanded to $1.26 billion, and the board declared an interim dividend of $361 million, or 71 US cents per share, for the third quarter.
With year-to-date gold production of 2,164,000 ounces, the company said full-year output is tracking to achieve its annual guidance, which it reaffirmed. The company said dewatering at Iduapriem has restored full access to high-grade mining blocks and that open-pit waste stripping at Sukari is unlocking higher-grade ore.
CEO Alberto Calderon said: "We are well positioned to deliver a strong final quarter to achieve our full-year gold production targets while advancing our long-term, high-margin pipeline in Nevada and our brownfield assets."
Agnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle reported third-quarter payable gold production of 814,012 ounces on Oct. 28, in line with its adjusted plan, at all-in sustaining costs of $1,648 per ounce. Realized gold prices were $4,264 per ounce. Net income was $1,353 million, or $2.67 per share, and free cash flow was $852 million, or $1.68 per share.
The company reported a net cash position of $3,416 million at Sept. 30. It said it is on track to achieve its 2026 production and cost guidance, with full-year payable gold production expected to remain near the lower end of its 3.3 to 3.5 million ounce guidance range, reflecting the adjusted mine plan of the Barnat open pit at Canadian Malartic.
Ammar Al-Joundi, President and Chief Executive Officer, said: "Construction is ramping up at Hope Bay, the first phase of shaft sinking is complete at Odyssey and project infrastructure continues to advance at Upper Beaver and Detour Lake."
Centerra Gold Inc. (NYSE: CGAU)
Centerra Gold reported consolidated third-quarter gold production of 75,429 ounces on Oct. 29, along with 12.8 million pounds of copper at Mount Milligan. All-in sustaining costs on a by-product basis were $1,775 per ounce, and net earnings were $88.7 million, or $0.46 per share.
The company said it remains on track to achieve its 2026 gold production guidance, and it lowered Mount Milligan's full-year guidance for all-in sustaining costs on a by-product basis, citing strong copper by-product credits. It repurchased shares for a record total consideration of $53.0 million in the quarter, bringing repurchases to $125.2 million in the first nine months of the year, and reported total liquidity of $998 million at Sept. 30, including a cash balance of $398 million.
Paul Tomory, President and CEO, said: "This quarter's results reflect consistent execution at our operations. Mount Milligan delivered a fourth consecutive quarter on plan and remains on track to achieve its 2026 production guidance."
Alamos Gold Inc. (NYSE: AGI)
Alamos Gold produced 119,000 ounces of gold in the third quarter, meeting quarterly guidance, according to results released on Oct. 28, including record quarterly production of 68,700 ounces from the Island Gold District. All-in sustaining costs were $1,956 per ounce, and net earnings were $165.6 million, or $0.40 per share.
The company expects fourth-quarter production to increase to between 140,000 and 160,000 ounces and said it is on track to achieve its full year production guidance, which was revised in July. Completion of commissioning of the Phase 3+ shaft is delayed by approximately one quarter to mid-2027, while Lynn Lake construction is ramping up as expected with initial production on track for the first half of 2029.
John A. McCluskey, President and Chief Executive Officer, said: "The Island Gold District achieved a number of records in the quarter including record production, underground mining rates and milling rates."
Five gold producers have now reported their third-quarter numbers, covering production guidance, costs, cash balances and shareholder returns. To learn the chart basics behind moves in mining stocks, get the free Knowledge is Power guide from Stock Preachers at usmetalnews.com.
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This article is independent news commentary. U.S. Metal News is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has not been paid by any company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those companies at any time without further notice. Gold futures data are CME Group delayed quotes for the December 2026 contract as of 10:20 a.m. ET on Nov. 9, 2026, and Friday settlement data; central bank, ETF, mine supply and average price figures are from the World Gold Council's Gold Demand Trends Q3 2026 release of Nov. 3, 2026, and policy details are from the Federal Reserve's Oct. 28, 2026 FOMC statement. Information is drawn from company news releases and filings, government and industry data, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.
SOURCE U.S. Metal News