Barrick Gold (TSX: ABX) shares surged Monday after the Canadian mining giant boosted its dividend and expanded its share repurchase program, following a strong quarter fueled by soaring gold prices.
Also Read: Best Canadian Stocks for Dividends
The stock climbed as much as 7.6% in Toronto trading, extending a rally of more than 120% so far this year as bullion’s historic 2025 surge continues. According to research from Carson Group, gold is on track for its best annual performance since 1979.
Reporting third-quarter results before the market opened, Barrick said its average realized gold price rose to US$3,457 per ounce, up from US$2,494 a year earlier. The higher pricing offset slightly lower production and modestly higher costs. Adjusted earnings came in at US$0.58 per share, marking a 23% increase from the prior quarter.
Also Read: Best Dividend Paying Stocks Canada
The company, which reports in U.S. dollars, announced a 25% increase in its quarterly dividend to 125 cents per share and approved a US$500 million boost to its ongoing share buyback plan.
“The quality of our portfolio is undeniable, and the opportunity ahead for Barrick is significant,” interim CEO Mark Hill said in a statement. “Our focus remains squarely on enhancing performance and creating shareholder value.”
Sign Up For our Newsletters to get latest updates
