Barrick Gold reports fourth-quarter loss, revenue down from year ago


TORONTO — Barrick Gold Corp., which completed its merger with Africa-focused Randgold Resources at the start of the year, reported a loss for its fourth quarter due in part to problems at its Lagunas Norte and Veladero mines.

The gold miner, which keeps its books in U.S. dollars, says it lost US$1.2 billion or $1.02 per share for the quarter ended Dec. 31.

That compared with a loss of $314 million or 27 cents per share in the same period a year earlier.

Revenue for the quarter totalled $1.9 billion, down from $2.2 billion.

On an adjusted basis, Barrick says it earned six cents per share in the quarter, down from an adjusted profit of 22 cents per share a year earlier.

Analysts on average had expected a profit of five cents per share for the quarter, according to Thomson Reuters Eikon.


Companies in this story: (TSX:ABX)

Canadian Press
Over 200 of our journalists produce award-winning stories, photos, graphics, audio and video. Our multimedia news is delivered round the clock and in real time to daily newspapers and more than 500 radio and TV stations.