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Company News

Barrick reports higher adjusted profit on improved gold output, prices

Feb 12 (Reuters) - Canadian miner Barrick Gold Corp reported a higher quarterly adjusted profit on Wednesday and boosted its dividend by 40%, benefiting from higher output and prices.

Barrick’s adjusted profit rose to $300 million, or 17 cents per share, in the fourth quarter ended Dec. 31, from $69 million, or 6 cents per share, a year earlier.

Barrick said gold production rose 14% to 1.44 million ounces from a year earlier, confirming the preliminary numbers released last month.

Average realized gold prices rose to $1,483 per ounce from $1,223 in the prior-year period. (Reporting by Shariq Khan in Bengaluru; Editing by Maju Samuel)

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