Barrick Gold Stock: Q4 Profits Soar, Announces Buyback Plan

Barrick Gold Corporation demonstrated robust financial performance in the fourth quarter of 2024, with earnings per share reaching $0.46, significantly surpassing analyst expectations of $0.41. The mining giant's quarterly revenue climbed to $3.65 billion, marking a substantial increase from $3.06 billion in the previous year. This impressive growth was largely attributed to favorable gold prices, which helped boost profit margins. The company's full-year revenue reached $12.92 billion, while earnings per share settled at $1.26. Additionally, shareholders will receive a quarterly dividend of $0.10 per share, scheduled for distribution on March 17, 2025.

Strategic Capital Allocation

In a significant move to enhance shareholder value, Barrick Gold has authorized a new share repurchase program worth up to $1 billion, extending over a twelve-month period. This initiative follows the successful completion of previous buybacks, which saw the company repurchase 21 million shares in the fourth quarter of 2024 alone. The announcement was well-received by investors, reflected in a 6.56% stock price increase to $18.19 on the NYSE, highlighting market confidence in the company's strategic direction.