Gold Miner Shines: Earnings Soar as Precious Metal Prices Climb

Shares of a leading gold mining company surged on Friday, reaching their highest level in three years, after the firm announced quarterly earnings that significantly surpassed market expectations. This impressive performance was largely fueled by a substantial increase in gold prices, further boosted by the company’s new share repurchase program.

The mining giant’s stock has seen a remarkable gain of approximately three-quarters of its value so far in 2025. This latest jump follows a strong second quarter where adjusted earnings per share exceeded analyst consensus, and revenue climbed by over 20% year-over-year, coming in above estimates.

A key driver of this success was a significant 26.5% year-over-year rise in gold sales, reaching $4.58 billion. The company reported an average realized gold price of $3,320 per ounce during the period, a substantial increase of $973 per ounce compared to the same time last year. While sales of other metals like copper, silver, lead, and zinc saw declines, the robust gold performance more than compensated.

The company’s CEO highlighted a strong operational quarter, noting the production of approximately 1.5 million attributable gold ounces and an all-time record quarterly free cash flow of $1.7 billion. In a move signaling confidence and aiming to return value to shareholders, the company also announced an additional $3 billion in stock buybacks.