Barrick Gold (ABX.TO, GOLD) on Wednesday reported an increase in fourth-quarter adjusted net earnings and announced a US$1 billion share buyback.
Fourth-quarter adjusted net earnings came in at US$794 million, or US$0.46 per share, up from US$466 million, or US$0.27 per share. The FactSet consensus estimate for non-GAAP EPS was US$0.60 for the quarter.
Attributable EBITDA rose to US$1.70 billion from US$1.07 billion.
The company produced 1.08 million ounces of gold, up from 1.05 million ounces of gold.
For 2025, attributable gold production is expected to be in the range of 3.15 million ounces and 3.5 million ounces, excluding production from Loulo-Gounkoto while it is temporarily suspended.
Separately, Barrick said it will buy back up to US$1 billion of its outstanding common shares over the next 12 months.
Barrick has terminated the share repurchase program announced on Feb. 14, 2024, under which it repurchased about US$498 million in shares.
Barrick also declared a dividend of US$0.10 per share for the fourth quarter to be paid March 17 to shareholders of record at the close of business on Feb. 28.
"The strong performance of our business has allowed us to provide significant returns to shareholders in 2024 through the combination of dividends and share buybacks, especially in the fourth quarter, at a compelling valuation," said Barrick CFO Graham Shuttleworth.
Barrick's share price at last look edged 0.2% higher to US$17.10 in U.S. pre-market trading on Wednesday.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。