Barrick Gold ( (GOLD) ) has released its Q4 earnings. Here is a breakdown of the information Barrick Gold presented to its investors.
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Barrick Gold Corporation, a leading global mining company, specializes in gold and copper production with operations spanning multiple continents. The company is recognized for its substantial mineral reserves and emphasis on sustainability and organic growth.
In its latest earnings report, Barrick Gold announced a robust performance in Q4 2024, marked by a 15% increase in gold production and a 33% rise in copper production compared to the previous quarter. The company’s net earnings soared by 69% to $2.14 billion, with adjusted net earnings up by 51% to $2.21 billion, and attributable EBITDA increasing by 30% to $5.19 billion for the year.
Key financial metrics highlight Barrick’s strong operational performance, including a 20% year-on-year increase in operating cash flow to $4.49 billion and a more than doubling of free cash flow to $1.32 billion. The company maintained a quarterly dividend of $0.10 per share, culminating in a total annual dividend of $696 million, alongside $498 million spent on share buybacks. Major growth projects like Lumwana and Reko Diq have significantly bolstered mineral reserves, setting the stage for future production increases.
Barrick is poised for continued growth, with projected 2025 gold production ranging from 3.15 to 3.5 million ounces and copper production expected to rise to between 200,000 and 230,000 tonnes. The company’s leadership remains optimistic about future opportunities, focusing on organic growth and engaging constructively with stakeholders to navigate geopolitical challenges.
