Barrick Gold Posts Record Q3 2025 Earnings and Cash Flow on Higher Production and Strong Prices
Barrick Gold Reports Record $2.4 Billion Cash Flow and $1.3 Billion Profit in Q3 2025 as Gold Output Rises
Barrick Gold Corporation reported record quarterly cash flow and earnings for the third quarter of 2025, fueled by higher gold production, lower operating costs, and robust commodity prices.
The world’s second-largest gold miner said operating cash flow surged 82% from the previous quarter to $2.4 billion, while free cash flow jumped 274% to $1.5 billion. Net earnings climbed to $1.3 billion, or $0.76 per share, with adjusted earnings up 23% to a record $529 million, or $0.58 per share.
Gold production rose 4% quarter-on-quarter to 829,000 ounces, while copper output held steady at 55,000 tonnes, in line with expectations. All-in sustaining costs (AISC) for gold fell 9% to $1,538 per ounce, reflecting improved operational efficiencies. Quarterly revenue reached $4.1 billion, up 23% year-over-year.
“Higher gold production, lower costs, and strong commodity prices delivered record cash flow for Barrick in the third quarter,” said Interim CEO Mark Hill, who assumed leadership following Mark Bristow’s departure in September.
Barrick also announced a 25% increase in its base quarterly dividend to $0.125 per share and declared an additional performance dividend of $0.05, bringing the total payout to $0.175 per share.
The company further expanded its share buyback program by $500 million, raising the total authorization to $1.5 billion, with $1 billion of shares repurchased year-to-date.
The miner reaffirmed its 2025 production guidance of 3.15 million to 3.50 million ounces of gold and 200,000 to 230,000 tonnes of copper, noting that gold output is expected to peak in the fourth quarter.
Barrick’s strong financial performance underscores its resilience amid volatile market conditions and positions the company for continued shareholder returns and strategic growth.
