TLDR
- Barrick Mining increased its share buyback program by $500 million to a total of $1.5 billion
- Quarterly dividend raised 25% to $0.125 per share with total Q3 payout of $0.175 per share
- Q3 revenue of $4.14 billion with adjusted EPS of $0.58
- Operating cash flow jumped 82% year-over-year to $2.4 billion in Q3
- Free cash flow surged 274% to $1.5 billion driven by higher gold prices and lower costs
Barrick Mining Corp. unveiled enhanced shareholder return programs Monday morning. The gold producer authorized a larger share buyback and increased its dividend payout.
The board approved a $500 million expansion of the existing repurchase plan. Total authorized buybacks now reach $1.5 billion for the 12-month period.
The company had already repurchased $1.0 billion worth of shares by September 30, 2025. Strong cash generation from operations enabled the program expansion.
Shares climbed over 3% in premarket trading after the announcement. The stock has gained 111.83% year-to-date.
Dividend Gets 25% Boost
The quarterly base dividend increased 25% to $0.125 per share. This marks a clear upgrade from previous payment levels.
For Q3, Barrick declared a total dividend of $0.175 per share. This includes a $0.05 performance component under the company’s updated policy.
Shareholders of record as of November 28 will receive payment on December 15, 2025. The performance-based element ties additional returns to operational results.
Record Cash Flow Numbers
Third-quarter revenue reached $4.14 billion. Adjusted earnings per share came in at $0.58.
Operating cash flow hit $2.4 billion in Q3. That’s an 82% jump compared to the prior year period.
Free cash flow climbed to $1.5 billion. The 274% year-over-year increase reflects improved operational efficiency.
Mark Hill, Group COO and Interim President and CEO, credited higher gold production for the results. Lower costs and strong commodity prices also contributed to record cash flow.
Higher realized gold prices boosted revenue during the quarter. Increased gold sales volume added to cash generation.
Lower total cash costs per ounce improved margins. These factors combined to drive the strong free cash flow performance.
Capital Allocation Strategy
The expanded buyback program gives management flexibility to repurchase shares. The company can act when shares trade below intrinsic value.
This approach aims to optimize capital deployment. It also maintains financial flexibility for other strategic initiatives.
The $1.0 billion in completed repurchases demonstrates management’s commitment. The additional $500 million authorization extends this strategy.
Analysts rate the stock a Buy with a C$40.00 price target. The company operates across 18 countries with major gold and copper assets.
The dividend payment includes both base and performance components. This structure allows returns to flex with operational performance.
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