Story perspectives

Barrick Launches $3B Buyback, Shares Jump 9%

5/11/2026

Summary

Barrick Buyback

Barrick Mining Corp announced a share repurchase program of up to $3 billion.
Chairman John Thornton said the buyback doubles last year’s amount and returns capital.
The announcement sent Barrick’s New York-listed shares up 9.2%, the largest intraday rise since September.
Barrick posted first-quarter profit and gold output above forecasts, targeting 2.9-3.25 million ounces of gold and 190,000-220,000 tons of copper while planning to list U.S. assets and complete an IPO by end-2026.

Summary

Barrick Declares Dividend

The board declared a dividend of $0.175 per share, payable June 15, as cash flow from operations rose to $2.55 billion and cash flow rose 195 % to $1.21 billion.
Management highlighted the Reko Diq copper-gold project in Pakistan as a driver of copper revenue and cash flow.
The company warned of metal-price volatility and inflation costs, while analysts say its diversified assets in Nevada, DRC, Argentina, Chile and Pakistan reduce exposure for U.S. investors.

History

Historical Context

The 1981 Tax Reform Act, signed by President Ronald Reagan on August 13, 1981, slashed the top marginal rate from 70% to 50% and introduced inflation indexing in 1985, prompting a wave of corporate buybacks in the 1980s. Echoing that trend, Barrick Gold Corp, chaired by John Thornton, unveiled a $3 billion repurchase that sent its shares up 9.2%.

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Barrick Buyback

Barrick Mining Corp announced a share repurchase program of up to $3 billion.
Chairman John Thornton said the buyback doubles last year’s amount and returns capital.
The announcement sent Barrick’s New York-listed shares up 9.2%, the largest intraday rise since September.
Barrick posted first-quarter profit and gold output above forecasts, targeting 2.9-3.25 million ounces of gold and 190,000-220,000 tons of copper while planning to list U.S. assets and complete an IPO by end-2026.

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