Barrick Gold (ABX) reported that its third-quarter profit fell 30% from a year ago due to higher
costs and a slowdown in production.
The Toronto-based gold miner, which reports its earnings in U.S. dollars, said its net income in
the July through September period amounted to $241 million U.S. or $0.14 U.S. per share,
down 30% from $347 million U.S. or $0.20 U.S. a share in the same quarter of 2021.
Revenue in Q3 totalled $2.53 billion U.S., down from $2.83 billion U.S. a year earlier.
Barrick's gold production during the quarter amounted to 988,000 ounces, down from 1,092,000
ounces a year ago. The company's all-in sustaining cost for gold totalled $1,269 U.S. per ounce,
up from US$1,034 U.S. per ounce a year ago.
With its latest earnings, Barrick Gold also announced a total dividend for the quarter of $0.15
per share, which includes a base dividend of $0.10 plus a performance dividend of $0.05.
Barrick Gold’s stock is down 18% this year and trading at $19.60 per share.
