TORONTO – Barrick Gold Corp. says it earned US$2.14 billion in 2024, up from $1.27 billion a year earlier, helped by higher gold and copper prices.
The gold miner, which keeps its books in U.S. dollars, says the profit amounted to US$1.22 per diluted share for the year, up from 72 cents US per diluted share in 2023.
Revenue for the year totalled US$12.92 billion, up from US$11.40 billion.
Gold sales for the year totalled nearly 3.8 million ounces, down from four million ounces in 2023, while the realized price rose to US$2,397 per ounce, up from US$1,948 a year earlier. Copper sales totalled 177,000 tonnes last year, down from 185,000 tonnes in 2023, while the company’s realized copper price amounted to US$4.15 per pound in 2024, up from US$3.85 a year earlier.
On an adjusted basis, Barrick says it earned US$1.26 per share in 2024, up from an adjusted profit of 84 cents US per share in 2023.
Barrick also announced plans to buy back up to US$1 billion worth of its shares over the next 12 months. The company repurchased US$498 million worth of its shares under its 2024 buy back program.
This report by The Canadian Press was first published Feb. 12, 2025.
Companies in this story: (TSX:ABX)
