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Barrick Gold Corp
Symbol ABX
Shares Issued 1,166,577,478
Close 2018-04-23 C$ 16.58
Market Cap C$ 19,341,854,585
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FP/wire say Barrick's Q1 profit barely beats estimates

2018-04-24 09:20 ET - In the News

The Financial Post reports in its Tuesday edition that Barrick Gold has posted slightly better-than-expected adjusted earnings in its first quarter. A Reuters dispatch to the Post says that Barrick earned $170-million, or 15 cents a share, ahead of analyst expectations for 13 cents and up from $162-million or 14 cents a share in the same quarter a year ago (all figures U.S.). The gain came on the back of higher gold prices and lower depreciation. The company said that its focus would increasingly be on growth from its own projects and operations in Nevada and the Dominican Republic. The miner also said it had suspended work on a prefeasibility study on its massive Pascua-Lama gold and silver project in the Andes Mountains, which does not meet its investment criteria. "Barrick will continue to evaluate opportunities to de-risk the project while maintaining Pascua-Lama as an option for development in the future if economics improve, and related risks can be mitigated," Barrick said in a statement. The miner, under the leadership of executive chairman John Thornton, has focused for the past three years on reducing debt by more than 50 per cent from the more than $13-billion it hit at the end of 2014.

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