11:43 AM EDT, 05/07/2025 (MT Newswires) -- (Adds comment and updates shares.)

Barrick Gold ( GOLD ) on Wednesday reported a jump in its first-quarter adjusted earnings amid higher realized gold prices.

Adjusted earnings, excluding most one-time items, rose to US$603 million, or US$0.35 per share, in the period, up from US$333 million, or US$0.19, in the year-prior quarter. The result beat the consensus estimate of US$0.28 per share compiled by FactSet.

Attributable EBITDA also increased to US$1.36 billion from US$907 million.

The company produced 758,000 ounces of gold in the quarter, at the top end of guidance but down from 940,000 ounces a year earlier. Its realized gold price climbed to US$2,898 per ounce from US$2,075.

Barrick also produced 44,000 tonnes of copper, up from 40,000 tonnes.

In addition, the company declared a dividend of US$0.10 per share for the first quarter, to be paid June 16 to shareholders of record on May 30.

National Bank of Canada maintained its sector-perform rating on Barrick shares with a $35.00 price target following the results.

National Bank said it continues to rate Barrick Sector Perform for its heightened geopolitical risk versus senior peers and continue to discount Mali operations from its target derivation.

Barrick shares were last seen up $0.24 to $26.77 on the Toronto Stock Exchange.

Price: 26.77, Change: +0.24, Percent Change: +0.90