07:00 AM EST, 11/10/2025 (MT Newswires) -- Barrick Gold ( B ) on Monday reported an 86% growth in third-quarter adjusted net earnings year over year and increased its share buyback program by US$500 million.

Adjusted net earnings came in at $982 million, or $0.58 per share, rising from $529 million, or $0.30 per share. The result fell short of the $0.59 non-GAAP earnings per share consensus estimate compiled by FactSet.

Revenues were $4.15 billion, an increase from $3.37 billion. The result missed the $4.36 billion revenue consensus estimate compiled by FactSet.

Barrick produced 829,000 ounces of gold, down from 943,000 ounces of gold. The company sold 837,000 ounces of gold, down from 967,000 ounces of gold. Realized gold price rose to $3,457 per ounce from $2,494 per ounce.

The company maintained its full-year 2025 gold production guidance of 3.15 million to 3.50 million ounces, tracking in the lower half of the range, with quarterly production highest in the fourth quarter.

"Higher gold production combined with lower costs and strong commodity prices drove record cash flow for Barrick in Q3," said Mark Hill, group COO and interim president and CEO. "This allowed us to significantly increase share repurchases while also making progress on our key growth projects, maintaining our industry-leading balance sheet."

Barrick said its board approved an increase of $500 million to its current $1 billion share repurchase program, announced in February.

As of Sept. 30, the company has successfully repurchased $1 billion of shares. The increase allows for the potential of further repurchases over the remaining term of the existing program.

Barrick announced a 25% increase in its quarterly base dividend to $0.125 per share. The company also declared a dividend of $0.175 per share for the third quarter, inclusive of a $0.05 per share performance dividend.

The third-quarter dividend will be paid on Dec. 15 to shareholders of record at the close of business on Nov. 28.