October 29, 2014 / 9:49 PM / in 3 years

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

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below