TORONTO — Barrick Gold Corp. reported its third-quarter profit fell compared with a year ago as it faced higher costs and its gold production fell compared with the same quarter last year.
The gold miner, which keeps its books in U.S. dollars, also announced a total dividend for the quarter of 15 cents per share including its base dividend of 10 cents per share plus a performance dividend of five cents per share.
Barrick says its net income attributable to equity holders amounted to US$241 million or 14 cents per diluted share for the quarter ended Sept. 30, compared with a profit of US$347 million or 20 cents per diluted share a year earlier.
Revenue totalled US$2.53 billion, down from US$2.83 billion in the third quarter of 2021.
Barrick’s gold production in the quarter amounted to 988,000 ounces, down from 1,092,000 ounces in the same quarter last year. The company’s all-in sustaining cost for gold totalled US$1,269 per ounce, up from US$1,034 per ounce a year ago.
On an adjusted basis, Barrick says it earned 13 cents per share, down from 24 cents per share a year earlier.
This report by The Canadian Press was first published Nov. 3, 2022.
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