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Dec 31, 2024
Barrick Q4 2024 Earnings Report
Key Takeaways
Barrick Gold Corporation reported strong Q4 2024 results with a 15% increase in gold production and a 33% rise in copper production compared to Q3 2024. Net earnings surged 104% to $996 million, with adjusted net earnings at $794 million. Revenue reached $3.65 billion, up 8% sequentially, while free cash flow stood at $501 million. The company declared a quarterly dividend of $0.10 per share and increased its share buyback program.
Revenue by Segment
Forward Guidance
Barrick expects attributable gold production in 2025 to range between 3.15 to 3.5 million ounces, while copper production is projected to increase to 200,000–230,000 tonnes. The company remains focused on organic growth and expanding its Tier One asset portfolio.
Positive Outlook
- Attributable gold production forecasted between 3.15–3.5 million ounces for 2025
- Attributable copper production expected to grow from 195,000 tonnes to 200,000–230,000 tonnes
- Increased investments in Tier One asset development, including Reko Diq and Lumwana expansions
- Continued cost discipline with all-in sustaining costs forecasted at $1,460–$1,560 per ounce for gold
- Renewed $1 billion share buyback program to enhance shareholder value
Challenges Ahead
- Production challenges in Latin America and Asia Pacific due to operational ramp-up at Pueblo Viejo
- Potential risks in Mali impacting North Mara and Loulo-Gounkoto operations
- Increased capital expenditure requirements for expansion projects
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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