Make Kitco Your Homepage
Off The Wire

Barrick profit climbs on lower costs, higher gold prices

TORONTO, Feb 15 (Reuters) - Barrick Gold Corp said on Wednesday that fourth-quarter profits rose from last year, reflecting further cost cuts and a rise in metal prices, as the world's largest gold miner increased its dividend and planned to further pare its debt.

The Toronto-based miner reported an adjusted profit of $255 million, or 22 cents a share, up from $91 million, or 8 cents a share, in the same period a year earlier.

Barrick also said its board approved an increase in the quarterly dividend to 3 cents per share from 2 cents, and that it aimed to reduce its total debt by $2.9 billion by the end of 2018, to a debt load of $5 billion.


(Reporting by Susan Taylor; Editing by Peter Cooney)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
kitco news

Follow Kitco News

Precious Metal Charts