Barrick’s Gold Profits Rose Even As Output Slipped - Finimize

AI desk brief

Barrick reported third-quarter earnings of $1.32 billion, up from $1.30 billion a year earlier, as its realized gold price rose 23% to $4,243 an ounce. Production fell to 816,000 ounces from 829,000, reflecting extreme weather at Veladero and delayed access to higher-grade ore at North Mara; Barrick expects access to that material in the fourth quarter. Higher selling prices offset lower output, illustrating miners’ earnings sensitivity to bullion, although any continued benefit would depend on prices, costs and operating performance. The update primarily concerns Barrick’s profitability and does not establish a directional bullion-price effect.