Friday, December 6, 2019


Barrick Gold Corp
(TSX: ABX.TO) Add to Watchlist
-0.21 (-0.93%)
as of Dec 6, 2019

Barrick Gold reports third-quarter profit up form year ago, raises dividend

TORONTO — Barrick Gold Corp. raised its dividend as it reported a third-quarter profit boosted by a one-time gain related to its Turquoise Ridge mine, which is part of its Nevada Gold Mines venture with Newmont Goldcorp Corp.

The gold miner says it will raise its quarterly dividend by a penny to a nickel per share, helped by its operational performance and a growth in cash flows.

The increased payment to shareholders came as Barrick, which keeps its books in U.S. dollars, said it earned nearly US$2.28 billion or $1.30 per share for the quarter ended Sept. 30, up from a loss of $412 million or 35 cents per share a year ago.

Revenue totalled $2.68 billion, up from $1.84 billion in the same quarter last year before the company merged with Randgold Resources Ltd.

On an adjusted basis, Barrick says it earned $264 million or 15 cents per share in its most recent quarter compared with an adjusted profit of $89 million or eight cents per share in the same quarter last year.

Analysts on average had expected a profit of 11 cents per share on $2.82 billion in revenue in the three months ended Sept. 30, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Nov. 6, 2019.

Companies in this story: (TSX:ABX.TO)

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Barrick Gold Corporation today announced that its Board of Directors has declared a dividend for the third quarter of 2019 of $0.05 per share, a 25% increase on the previous quarter’s dividend, payable on December 16, 2019 to shareholders of record at the close of business on November 29, 2019.9

Senior Executive Vice-President and Chief Financial Officer Graham Shuttleworth said Barrick’s business continued to perform well and the increased dividend reflected its strong operating performance and growth in cashflows and is consistent with the Company’s stated financial and operating objectives.

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