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Commodities Buzz: Barrick reports around 19% drop in Gold output on year in first quarter
09-May-2025 15:37
Mining major Barrick Gold Corporation (GOLD) will officially change its name to Barrick Mining Corporation on May 9. This gold mining giant is leveraging its strong performance in the Q1 2025 fiscal report to accelerate its transformation into a diversified mining leader with a dual focus on gold and copper. Barrick's Q1 2025 results demonstrate its ability to balance short-term targets with long-term projects. Gold production of 758,000 ounces was at the top end of guidance with copper production increasing to 44,000 tonnes year-over-year on improved costs. The average realized gold price for the quarter of $2,898 per ounce, up 40% from the prior year, supported stronger margins despite ongoing expansion work at Pueblo Viejo and planned maintenance at Nevada Gold Mines. However, the gold production in Q1 2025 is down 19.36% compared to same quarter last year. The company's Net profit surged 59% YoY, with strong free cash flow supporting share buybacks and dividends, reinforcing its commitment to shareholder returns.

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