On February 12, 2025, Barrick Gold Corporation (NYSE: GOLD) released its financial results for the fourth quarter and full year of 2024. The report highlights strong production growth, improved profitability, and continued shareholder returns. As a major player in the gold and copper mining sector, Barrick's performance provides key insights into broader commodity trends.
Key Financial Highlights
Production Growth:
Barrick increased gold production by 15% and copper production by 33% in Q4 compared to Q3, successfully meeting its annual production guidance.Profitability:
- Net earnings surged by 69% year-over-year to $2.14 billion.
- Adjusted net earnings rose by 51% to $2.21 billion.
Strong Cash Flow and Returns:
- Operating cash flow grew by 20% to $4.49 billion.
- Free cash flow more than doubled to $1.32 billion.
- Dividends remained steady at $0.10 per share, totaling $696 million for 2024.
- The company repurchased $498 million in shares throughout the year.
Strategic Developments and Reserves Expansion
Barrick made substantial reserve additions, increasing its gold reserves by 23% to 89 million ounces before 2024 depletion. Meanwhile, copper reserves skyrocketed by 224% to 18 million tonnes, reinforcing Barrick's commitment to strengthening its copper portfolio.
Key project advancements include:
- Lumwana and Reko Diq feasibility studies completed, solidifying them as Tier One copper assets.
- The Fourmile gold project advanced to prefeasibility, following successful 2024 drilling.
Market Reaction and Outlook
Following the earnings report, Barrick’s stock price surged by 6.44%, closing at $18.17 on February 12, 2025.
Looking ahead, Barrick expects 2025 gold production to be between 3.15 and 3.5 million ounces, with copper production rising to 200,000–230,000 tonnes, supported by Lumwana's expansion.
Final Thoughts
Barrick Gold continues to execute well, balancing production growth, strategic investments, and shareholder returns. With gold and copper prices playing a pivotal role in its future performance, Barrick remains a company to watch for those tracking the mining sector.
Disclaimer:
I do not hold shares of Barrick Gold Corporation (NYSE: GOLD) but actively buy and sell shares using my mean reversion strategy. This post is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.
