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March 26, 2025After months of outflows gold rally attracts investors back to mining stocks
With gold up more than 15% this year to a record high above $3,000 an ounce, investors are more optimistic that miners can absorb higher costs, expand margins and generate stronger cash flows. Shares of top miners such as Newmont and Barrick Gold, have more than reversed 2024 falls of 10% and 7%, respectively, surging around 27% and 21.5% so far this year.
Barrick Gold announced a $1 billion share buyback offer after reporting a solid profit and doubling its free cash flow in the fourth quarter.
AngloGold Ashanti said its balance sheet was the strongest in more than a decade and declared a final dividend of 91 US cents per share – nearly five times higher than for the prior year.
Gold Fields has also indicated it could initiate a share buyback this year, while Harmony Gold plans to self-fund the construction of a new copper mine in Australia.
