Barrick Mining on Monday raised its dividend and expanded its share buyback program, after beating quarterly adjusted profit estimates as stronger gold prices helped offset a decline in production.
US-listed shares of the Canadian company rose nearly 4% in premarket trading following the results.
Gold prices, which are sensitive to uncertainty, averaged at $3,574.95 per ounce in the third quarter, more than 16% higher than the preceding quarter and over 43% above the levels seen a year earlier.
Prices of the precious metal were buoyed by safe-haven demand as uncertainty over US President Donald Trump’s tariff plans and geopolitical tensions stoked inflation concerns.
Barrick said its average realized gold price rose to $3,457 per ounce during the third quarter from $2,494 per ounce a year earlier.
Its quarterly production decreased to 829,000 ounces from 943,000 ounces last year.
Barrick…
