(Reuters) -Barrick Mining on Monday raised its dividend and expanded its share buyback program, after beating quarterly adjusted profit estimates as stronger gold prices helped offset a decline in production.

U.S.-listed shares of the Canadian company rose nearly 4% in premarket trading following the results.

Gold prices, which are sensitive to uncertainty, averaged at $3,574.95 per ounce in the third quarter, more than 16% higher than the preceding quarter and over 43% above the levels seen a year earlier.

Prices of the precious metal were buoyed by safe-haven demand as uncertainty over U.S. President Donald Trump’s tariff plans and geopolitical tensions stoked inflation concerns.

Barrick said its average realized gold price rose to $3,457 per ounce during the third quarter from $2,49

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