Gold price surge boosts Barrick’s Q1 performance beyond expectations, announces $3 billion buyback

Golden Harmony May 11｜On Monday, the company reported better-than-expected first-quarter results and announced the launch of a new $3 billion stock buyback program. As the world’s third-largest gold producer, it is actively seeking investor support and plans to divest its North American assets later this year. Data shows Q1 revenue reached $5.22 billion, up 67% year-over-year, exceeding the market expectation of $4.83 billion; adjusted net profit surged 173% year-over-year to $1.65 billion, mainly driven by increased gold production, lower costs, and stronger gold prices; adjusted earnings per share were $0.98, beating the market expectation of $0.81.