Barrick Gold Shares Gain After Q4 Earnings And New $1 Billion Buyback Program

Barrick Gold Corporation GOLD shares are trading higher Wednesday after the company reported better-than-expected fourth-quarter earnings and announced a new $1 billion stock buyback program.

What To Know: The company's fourth-quarter revenue came in at $3.645 billion, up 8% from the previous quarter but missing analyst estimates of $3.978 billion. Barrick reported adjusted earnings per share of 46 cents, beating Wall Street's expectation of 41 cents.

CEO Mark Bristow highlighted steady operational improvements across several key projects, including Pueblo Viejo, Veladero and Nevada Gold Mines. He noted that the company had made progress at Kibali while advancing major feasibility studies for the Lumwana and Reko Diq projects. Despite concerns surrounding Barrick's exposure to Mali, Bristow emphasized that the company's fundamental value remains strong.

Barrick also authorized a new $1 billion buyback program, replacing its previous program, which had repurchased $498 million in shares.

For 2025, Barrick expects gold production between 3.15 million and 3.5 million ounces, with all-in-sustaining costs 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 production is expected to range between 200,000 and 230,000 tonnes, driven by higher output at Lumwana.

GOLD Price Action: Barrick Gold shares were up 6.47% at $18.18 at the time of writing, according to Benzinga Pro.

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