Barrick Gold Stock Surges on Strong Q4 Results

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) shares jumped on Tuesday following the release of its strong fourth quarter and full-year 2024 results. The mining giant reported a 69% increase in net earnings to $2.14 billion, a 51% increase in adjusted net earnings to $2.21 billion, and a 30% rise in attributable EBITDA to $5.19 billion for the year. The company's stock price rose by 5.2% in response to the positive earnings report.

Barrick Gold's North America and Africa and Middle East operations met their production guidance for the year, while the Latin America and Asia Pacific region delivered slightly below guidance due to a slower-than-expected ramp-up at Pueblo Viejo. Despite this, the company's overall attributable gold production for the year was 3.91 million ounces, in line with annual guidance. Copper production also increased, with the company delivering 195,000 tonnes in 2024, at the midpoint of its annual guidance.