It seems to take a lot to impress investors in Canadian miner Barrick Gold Corp. (TSX:ABX, NYSE:GOLD)
It has promised a $1 billion share buyback while beating the Street with fourth-quarter results.
Yet by mid-morning, the stock was down 1.3% after a buoyant premarket session, with commentators citing the flat dividend as the depressant.
Net income from the world's second-largest gold digger was up 27% quarter on quarter at $479 million, giving earnings for the year of $1.2 billion, up from $432 million a year earlier.
Looking ahead, gold production for 2024 is seen in the region of 3.9-4.3 million ounces - broadly in line with last year's output.
Barrick said it expects its Porgera gold mine in Papua New Guinea to produce 50,000-70,000 ounces this year after being offline since 2020 following a dispute with the government.