(Reuters) -Barrick Mining ( B ) on Monday raised its quarterly dividend, increased its share buyback program and beat Wall Street expectations for third-quarter adjusted profit, as record-high gold prices helped offset lower production.

U.S.-listed shares of the Canadian company rose 4.5% in premarket trading following the results.

Prices of the precious metal was buoyed by safe-haven demand as uncertainty over U.S. President Donald Trump's tariff plans and geopolitical tensions stoked inflation concerns.

Barrick said its average realized gold price rose to $3,457 per ounce during the third quarter from $2,494 per ounce a year earlier.

Its quarterly production decreased to 829,000 ounces from 943,000 ounces last year.

The company earned 58 cents per share on an adjusted basis in the third quarter, compared with analysts' average expectation of 57 cents per share, according to data compiled by LSEG.