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Investing.com -- Barrick Mining Corporation shares fell 4.4% after the gold miner reported second-quarter revenue that missed analyst expectations, despite posting stronger production and cash flow growth.
The company reported Q2 revenue of $3.68 billion, falling short of the $3.73 billion consensus estimate, though earnings per share came in at $0.47, exceeding analyst expectations of $0.44. Gold production increased 5% from the previous quarter to 797,000 ounces, while copper production surged 34% to 59,000 tonnes.
The stock’s significant decline reflects investor disappointment with the revenue miss despite operational improvements.
"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," said President and CEO Mark Bristow.
Operating cash flow for the first half of 2025 reached $2.5 billion, 32% higher than the prior-year period, while free cash flow totaled $770 million, up 107% YoY. The company’s board approved a $0.15 per share dividend, including a $0.05 performance dividend. During the quarter, Barrick repurchased $268 million of its shares, bringing total buybacks for the first half to $411 million.
The company’s Nevada Gold Mines led gold performance with an 11% production increase quarter-on-quarter, while Pueblo Viejo delivered a 28% production increase. All-in sustaining costs (AISC) for gold declined 5% to $1,684 per ounce.
Barrick said it continues to advance key growth projects, with its Reko Diq development on track and Fourmile’s drill program showing potential to double existing resources by year-end.