By: Creamer media

The world’s second-largest gold miner said operating cash flow rose 82% from the previous quarter to $2.4-billion, while free cash flow jumped 274% to $1.5-billion. Net earnings climbed to $1.3-billion, or $0.76 a share, with adjusted earnings up 23% to a record $529-million or $0.58 a share.

Gold production increased 4% quarter-on-quarter to 829 000 oz, while copper output of 55 000 t was in line with plan. Gold all-in sustaining costs fell 9% to $1 538/oz. Revenue for the quarter reached $4.1-billion, up 23% year-on-year.

“Higher gold production combined with lower costs and strong commodity prices drove record cash flow for Barrick in the third quarter,” said interim CEO Mark Hill, who took over following Mark Bristow’s departure in September.

The company increased its base quarterly dividend by 25% to $0.125 a share and declared a performance dividend of $0.05, bringing the total payout to $0.175 a share. Barrick also expanded its share buyback programme by $500-million to a total of $1.5-billion, having repurchased $1-billion of shares year-to-date.

Barrick maintained its 2025 production guidance of 3.15-million to 3.50-million ounces of gold and 200 000 t to 230 000 t of copper. It expects gold output to peak in the fourth quarter.