Overview

* Barrick Q3 revenue slightly missed analyst expectations, adjusted EPS beat estimates

* Record operating cash flow of $2.4 bln, free cash flow of $1.5 bln in Q3

* IN the qtr, company increased quarterly dividend by 25% and expanded share buyback program

Outlook

* Barrick maintains 2025 gold production guidance at 3.15-3.50 mln ounces, tracking in lower half of the range

* Copper production guidance for 2025 remains at 200,000-230,000 tonnes

* Company expects gold cost guidance to be $1,510-$1,610 per ounce

Result Drivers

* GOLD PRODUCTION - Higher gold production and lower costs drove record cash flow in Q3, according to COO Mark Hill

* OPERATIONAL IMPROVEMENTS - Increased production at Cortez and Turquoise Ridge, and record throughput at Pueblo Viejo contributed to Q3 results

* ASSET SALES - Continued non-core asset sales, including Hemlo and Tongon, supported financial performance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Slight $4.15 $4.16

Revenues Miss* bln bln (2

Analysts

)

Q3 Beat $0.58 $0.57 (6

Adjusted Analysts

EPS )

Q3 $982 mln

Adjusted

Net

Income

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the gold peer group is "buy"

* Wall Street's median 12-month price target for Barrick Mining Corp ( B ) is C$58.00, about 19.9% above its November 7 closing price of C$46.44

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)