Barrick Gold Company GOLD shares are buying and selling larger Wednesday after the corporate reported better-than-expected fourth-quarter earnings and introduced a brand new $1 billion inventory buyback program.
What To Know: The corporate’s fourth-quarter income got here in at $3.645 billion, up 8% from the earlier quarter however lacking analyst estimates of $3.978 billion. Barrick reported adjusted earnings per share of 46 cents, beating Wall Avenue’s expectation of 41 cents.
CEO Mark Bristow highlighted regular operational enhancements throughout a number of key tasks, together with Pueblo Viejo, Veladero and Nevada Gold Mines. He famous that the corporate had made progress at Kibali whereas advancing main feasibility research for the Lumwana and Reko Diq tasks. Regardless of considerations surrounding Barrick’s publicity to Mali, Bristow emphasised that the corporate’s basic worth stays robust.
Barrick additionally licensed a brand new $1 billion buyback program, changing its earlier program, which had repurchased $498 million in shares.
For 2025, Barrick expects gold manufacturing between 3.15 million and three.5 million ounces, with all-in-sustaining prices projected between $1,460 and $1,560 per ounce. Capital expenditures are forecasted to be between $3.1 billion and $3.6 billion and copper manufacturing is predicted to vary between 200,000 and 230,000 tonnes, pushed by larger output at Lumwana.
GOLD Value Motion: Barrick Gold shares had been up 6.47% at $18.18 on the time of writing, in keeping with Benzinga Professional.
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