While 2025 thus far has been all about headlines regarding AI stocks and semiconductor ETFs, one of the year’s most sensational performers comes from a category few would anticipate: gold miners.
Barrick Gold reports solid Q1 results with revenue of $3.13B, in line with consensus. Gold production and sales fell, but realized prices rose. Copper production surged and dividend declared.
Barrick Gold Corp reports strong Q2 results, with revenue up 12% and EPS exceeding consensus. The company is focused on increasing production and expanding assets, with a dividend declared and shares being bought back.
Barrick Gold reported first-quarter revenue of $2.747 billion (+4% Y/Y), which is in line with the consensus. Gold production stood at 940 thousand ounces (-1% Y/Y), and gold sales were 910 thousand ounces (-5% Y/Y).
Metal miners are the biggest beneficiaries of the surge in gold price as the mining companies act as a leveraged play on the underlying metal prices and thus tend to experience more gains than their bullion cousins in a rising metal market.
Through the past year gold has struggled somewhat as it continues to digest the strong gains of the last two years. Many wonder, has gold lost its golden touch? But remember, gold was $1,200 as recently as late 2018. It’s now almost 50% higher.
