Barrick Mining Posts $1.62B Q4 Free Cash Flow, Hikes Dividend 140%
Barrick Mining reported record Q4 net earnings alongside $1.62B free cash flow and authorized a 140% dividend increase to $0.42 per share with a $500M share buyback. The company set its 2026 guidance assuming gold at $4,500/oz and trades at a forward P/E of 12.4.
1. Q4 2025 Financial Highlights
Barrick Mining delivered its highest ever quarterly net earnings in Q4 2025, supported by a record $1.62 billion in free cash flow. This performance reflects strong gold prices and operational efficiencies during the period.
2. Dividend Policy and Buyback Program
The company raised its base dividend to $0.42 per share for the fourth quarter, marking a 140% increase from the prior quarter, payable on March 16 to holders of record on February 27. Additionally, Barrick will distribute 50% of annual free cash flow and executed a $500 million share repurchase in Q4.
3. 2026 Guidance and Valuation
Barrick’s 2026 planning assumes a gold price of $4,500 per ounce, underpinning robust earnings projections. The stock trades at a forward P/E of 12.4, has risen 2.3% year-to-date, and slipped 1.2% over the past five trading sessions.