TORONTO — Barrick Gold Corp. reported its second-quarter profit rose compared with a year ago, helped by higher gold and copper prices.
The miner, which keeps its books in U.S. dollars, says it earned US$370 million or 21 cents US per diluted share for the quarter ended June 30, up from US$305 million or 17 cents US per diluted share a year earlier.
Revenue totalled US$3.16 billion, up from US$2.83 billion in the same quarter last year.
Barrick’s realized gold price for the quarter amounted to US$2,344 per ounce, up from US$1,972 a year ago, while its realized copper price was US$4.53 per pound, up from US$3.70 in the same quarter last year.
Gold production totalled 948,000 ounces for the quarter, down from 1,009,000 ounces a year earlier, while copper production amounted to 43,000 tonnes, down from 48,000 tonnes in the same quarter last year.
On an adjusted basis, Barrick says it earned 32 cents US per share in its latest quarter, up from an adjusted profit of 19 cents US per share.
This report by The Canadian Press was first published Aug. 12, 2024.
