Shares of Barrick Mining Corporation (NYSE:B) dropped 4.4% following the release of its second-quarter results, as revenue came in below analyst expectations despite growth in production and cash flow.
The company reported Q2 revenue of $3.68 billion, missing the consensus estimate of $3.73 billion. However, earnings per share reached $0.47, beating the anticipated $0.44. Gold output rose 5% from the previous quarter to 797,000 ounces, while copper production jumped 34% to 59,000 tonnes.
The sharp stock decline indicates investor dissatisfaction with the revenue shortfall despite improvements in operations.
“Q2 was another quarter where Barrick delivered on all fronts. We’re growing production, lowering costs and advancing the industry’s most exciting pipeline of gold and copper projects,” stated President and CEO Mark Bristow.
For the first half of 2025, operating cash flow hit $2.5 billion, a 32% increase year-on-year, with free cash flow doubling to $770 million. The board approved a $0.15 per share dividend, including a $0.05 performance component. Barrick also bought back $268 million of shares during the quarter, bringing total repurchases for the first six months to $411 million.
Nevada Gold Mines led production gains with an 11% increase quarter-over-quarter, and Pueblo Viejo contributed a 28% rise. The all-in sustaining cost (AISC) for gold decreased 5% to $1,684 per ounce.
Barrick highlighted continued progress on growth initiatives, noting that the Reko Diq project remains on schedule, and Fourmile’s drilling campaign shows promise to potentially double its resources by the end of the year.
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