Barrick Gold third-quarter earnings slide, cuts 2014 cost forecast

Wed Oct 29, 2014 5:44pm EDT
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Oct 29 (Reuters) - Barrick Gold Corp reported lower third-quarter earnings on Wednesday on the back of weaker gold and copper prices and lower sales volumes.

Barrick, the world's biggest gold producer by output, said net earnings fell to $125 million, or 11 cents a share, in the quarter to end-September from $172 million, or 17 cents a share, in the same period a year ago.

The company lowered its 2014 forecast for all-in sustaining costs to between $880 and $920 per ounce of gold from a range of $900 to $940 an ounce before. It also narrowed its forecast range for production this year to between 6.1 million and 6.4 million ounces from a previous estimate of 6 million to 6.5 million. (Reporting by Nicole Mordant in Vancouver; Editing by Chris Reese)