Overview
- Barrick reported adjusted earnings of 58 cents per share for the third quarter, topping the 57-cent consensus cited by LSEG as U.S.-listed shares rose nearly 4% premarket.
- Directors approved a 25% increase in the quarterly dividend to 125 cents per share and authorized a $500 million expansion of the share repurchase program.
- The company’s average realized gold price climbed to $3,457 per ounce from $2,494 a year earlier, while gold output fell to 829,000 ounces and all-in sustaining costs rose to $1,538 per ounce.
- Management highlighted persistent uncertainty supporting gold, including concerns tied to tariff policy and geopolitical tensions that have buoyed safe-haven demand.
- The update follows Barrick’s completion of the Alturas Project sale in Chile for $50 million up front and recent analyst target increases that helped lift the stock into the earnings release.