Barrick Gold reports strong third quarter earnings

barrick-gold-corp-logo (1)Barrick Gold Corporation has reported third quarter net earnings of $125 million ($0.11 per share). Adjusted net earnings were $222 million ($0.19 per share). Operating cash flow was $852 million. The company reported strong quarterly results with solid production and lower than expected costs which drove the second reduction to annual all-in sustaining cost guidance this year.

 
“We are pleased to report another quarter of strong operating results, underpinned by a disciplined business model that prioritizes shareholder returns,” said Kelvin Dushnisky, Co-President of Barrick. “We are focused on the best assets in the best regions, where we see the most potential to create value for shareholders, areas where we have already established distinctive geological and technical knowledge and strong partnerships. We will only invest in mines and development opportunities that can generate strong returns and free cash flow through commodity cycles. This is reflected in the
priorities we have defined for Barrick.”
“Operational excellence remains a top priority for Barrick. Our performance in the third quarter reflects the quality of our mines and our people,” said Jim Gowans, Co-President of Barrick. “Our operating teams continue their relentless efforts to improve performance and cut costs. As a result, we were able to reduce annual cost guidance for the second time this year.”

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