Barrick Gold ( (GOLD) ) has released its Q1 earnings. Here is a breakdown of the information Barrick Gold presented to its investors.
Barrick Mining Corporation, a leading player in the gold and copper mining industry, has reported a robust start to 2025 with significant progress on its strategic growth objectives. The company, which operates a global portfolio of Tier One gold and copper assets, has seen a notable increase in its financial performance metrics for the first quarter of the year.
In the first quarter of 2025, Barrick reported a 59% year-on-year increase in net earnings per share to $0.27, with adjusted net earnings per share rising by 84% to $0.35. The company also achieved a 59% increase in operating cash flow to $1.2 billion and a significant improvement in free cash flow to $375 million, leading to a 5% reduction in net debt. Gold production reached 758,000 ounces, at the top end of guidance, while copper production increased to 44,000 tonnes. The average realized gold price was $2,898 per ounce, up 40% from the previous year.
Barrick has made substantial progress on key growth projects, including advancing the Reko Diq and Lumwana projects and completing throughput improvement projects at Pueblo Viejo. The company has also strengthened its board with the election of two new independent directors, reflecting its commitment to board renewal and diversity. Additionally, Barrick has announced a name change to Barrick Mining Corporation, signaling its intent to lead in both gold and copper production.
Looking ahead, Barrick remains focused on its long-term strategy of organic growth and value creation. The company aims to increase its gold-equivalent production by 30% by the end of the decade, supported by its strong balance sheet and cash flows. With no need to raise new equity or increase debt, Barrick is well-positioned to maintain a strong financial position while delivering sustainable returns to shareholders.