Loading ...Barrick Gold 4Q Sales, Profit Ahead of Forecasts
Barrick Gold Corp. sales rose in the fourth quarter as the miner pushed up prices for its namesake product.
Barrick Wednesday reported $2.88 billion in revenue for the quarter, beating forecasts from analysts polled by FactSet, who predicted $2.79 billion in revenue.
In the fourth quarter of 2018, Barrick generated $1.9 billion in revenue. In January 2019, Barrick completed its acquisition of Randgold Resources Ltd., affecting comparability.
Realized prices for gold rose to $1,483 an ounce in the fourth quarter, the miner said. During the full year, realized prices were $1,396 an ounce.
The company also reported quarterly earnings of $1.39 billion, or 78 cents a share. The company’s adjusted profit, which accounts for reversals of impairments, tax issues and other items, of 17 cents was ahead of the consensus estimate by four cents.