Barrick Gold stock earns after 4Q earnings and new $1 billion buyback program – Barrick Gold (NYSE: GOLD)

Barrick Gold Gold Stocks rose Wednesday after the company reported more than expected fourth-quarter earnings and announced a new $1 billion stock buyback program.

What to know: The company’s fourth-quarter revenue was $36.45 billion, an 8% increase from the previous quarter, but analysts estimate that $3.978 billion is missing. Barrick reported adjusted earnings per share of 46 cents, beating Wall Street’s expected 41 cents.

CEO Mark Bristol Stable operational improvements have been highlighted in several key projects including Pueblo Viejo, Veladero and Nevada Gold Mines. He noted that the company made progress in Kibali while also conducting significant feasibility studies for the Lumwana and Reko DIQ projects. Despite concerns about Barrick’s exposure to Mali, Bristol stressed that the company’s basic value remains strong.

Barrick also authorized a new $1 billion buyback program to replace his previous plan that repurchased $498 million in stock.

In 2025, Barrick expects gold production to range between 3.15 million and 3.5 million ounces, with full sustained costs expected to be between $1,460 and $1,560 per ounce. Capital expenditure is expected to be between $3.1 billion and $3.6 billion, and copper production is expected to be between $200,000 and 230,000 tons, driven by higher production in Lumwana.

Gold price action: At the time of writing, Barrick Gold shares rose 6.47% to $18.18, according to Benzinga Pro.

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Image via shutterstock.