NYSE$B
Barrick Mining Corp · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Barrick Q1 2025: net EPS $0.27 (+59%); operating cash flow $1.2B
Barrick Mining Corporation reported a solid first quarter 2025 with net earnings of $474 million and net EPS of $0.27, up 59% year over year, while adjusted net EPS rose 84% to $0.35. Gold production of 758,000 ounces was at the top end of guidance and copper production increased to 44,000 tonnes. Operating cash flow surged 59% to $1.2 billion and free cash flow reached $375 million, enabling a 5% reduction in net debt. The average realized gold price was $2,898 per ounce, up 40% from Q1 2024. Barrick declared a $0.10 quarterly dividend and repurchased $143 million of shares. Major growth projects at Reko Diq and Lumwana advanced into execution, and shareholders approved renaming the company to Barrick Mining with NYSE ticker 'B'.
- Net earnings $474M; EPS $0.27 (+59% YoY); adjusted net EPS $0.35 (+84%).
- Gold production 758k oz at top of guidance; copper production 44k tonnes (+10% YoY).
- Operating cash flow $1.2B (+59%); free cash flow $375M; net debt down 5%.
- $0.10/share dividend declared; $143M of share buybacks in the quarter.
- Reko Diq and Lumwana growth projects mobilized; NYSE ticker changing to 'B' effective May 9.
Headline financials
Revenue & EPS history
Barrick · Revenue · Quarterly
$10.4B
Forward guidance
Barrick maintained full-year 2025 gold and copper production guidance and expects costs per ounce to trend lower through the year as Pueblo Viejo ramp-up and Nevada Gold Mines maintenance work complete.
Tailwinds
- Record realized gold prices driving margin expansion and free cash flow
- Tier One asset portfolio with Reko Diq and Lumwana entering execution phase
Headwinds
- Gold AISC rose to $1,775/oz on expansion work at Pueblo Viejo and NGM maintenance
- Higher costs expected to improve as production volumes increase later in 2025
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
+0.1%
Avg return
Earnings day
-0.0%
Avg return
5 days after
-0.8%
Avg return
30 days after
46%
30 / 65 earnings
Positive
+12.3%
Q4 2021
Best reaction
-12.1%
Q4 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +9.0% | -5.9% | -13.8% | |
| Q2 2026 | -7.2% | -0.9% | -4.1% | |
| Q1 2026 | +1.7% | +14.7% | +26.1% | |
| Q2 2025 | -2.6% | +2.9% | +25.8% | |
| Q1 2025 | +0.9% | -5.2% | +3.1% | |
| Q3 2024 | -0.2% | -7.7% | -9.0% | |
| Q2 2024 | +9.9% | +13.2% | +13.5% | |
| Q1 2024 | -0.5% | +0.2% | +2.7% | |
| Q3 2023 | +2.8% | -1.7% | +10.6% | |
| Q2 2023 | -0.1% | +2.5% | -4.3% | |
| Q1 2023 | +3.2% | +0.3% | -12.5% | |
| Q4 2022 | -4.8% | -6.0% | +1.7% | |
| Q3 2022 | -1.0% | +8.9% | +18.4% | |
| Q2 2022 | +5.4% | +7.3% | -1.5% | |
| Q1 2022 | +0.7% | -4.1% | -7.7% | |
| Q4 2021 | +12.3% | +11.9% | +15.4% | |
| Q3 2021 | +5.3% | +5.4% | -2.1% | |
| Q2 2021 | -4.6% | -2.5% | -4.5% | |
| Q1 2021 | +7.0% | +8.7% | +6.6% | |
| Q4 2020 | -5.0% | -3.2% | +0.6% | |
| Q3 2020 | +5.3% | -5.4% | -14.3% | |
| Q2 2020 | -9.1% | -6.5% | +5.5% | |
| Q1 2020 | -3.3% | -7.7% | -17.4% | |
| Q4 2019 | +2.7% | +6.9% | -15.0% | |
| Q3 2019 | -1.1% | -1.0% | +2.1% | |
| Q2 2019 | -0.2% | +1.4% | -4.4% | |
| Q1 2019 | -2.8% | -3.2% | +6.4% | |
| Q3 2018 | -1.7% | -2.3% | +1.2% | |
| Q2 2018 | -0.8% | -4.7% | -8.0% | |
| Q1 2018 | +1.4% | -1.1% | -2.3% | |
| Q4 2017 | -1.8% | -4.9% | -14.8% | |
| Q3 2017 | -1.5% | -1.6% | -1.1% | |
| Q2 2017 | -3.1% | -3.7% | +5.7% | |
| Q1 2017 | -0.4% | +0.4% | -0.1% | |
| Q4 2016 | +2.1% | +3.0% | -5.9% | |
| Q3 2016 | +0.7% | -5.5% | -13.7% | |
| Q2 2016 | -5.3% | -4.1% | -19.0% | |
| Q1 2016 | -2.8% | — | — | |
| Q4 2015 | -3.6% | — | — | |
| Q3 2015 | -6.9% | — | — | |
| Q2 2015 | +7.6% | — | — | |
| Q1 2015 | +1.0% | — | — | |
| Q4 2014 | -1.2% | — | — | |
| Q3 2014 | -0.2% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q4 2013 | -12.1% | — | — | |
| Q2 2013 | +6.5% | — | — | |
| Q2 2012 | -1.9% | — | — | |
| Q1 2013 | -2.8% | — | — | |
| Q4 2012 | -4.4% | — | — | |
| Q3 2012 | +1.0% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -0.3% | — | — | |
| Q2 2011 | +0.3% | — | — | |
| Q4 2007 | -0.5% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q1 2010 | +3.3% | — | — | |
| Q2 2010 | +3.3% | — | — | |
| Q4 2009 | +0.9% | — | — | |
| Q4 2008 | +0.9% | — | — |
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