Barrick reports US$1.27B profit for 2023, up from US$432M in 2022

By The Canadian Press on February 14, 2024.

TORONTO – Barrick Gold Corp. reported a profit attributable to equity holders of US$1.27 billion for 2023, up from US$432 million a year earlier.

The gold miner, which keeps its books in U.S. dollars, says the profit amounted to 72 cents US per share for the year, up from 24 cents US per share a year earlier.

On an adjusted basis, Barrick says it earned 84 cents US per share for 2023, up from an adjusted profit of 75 cents US per share in 2022.

Revenue for 2023 totalled US$11.40 billion, up from US$11.01 billion in 2022.

The increase came as the miner’s realized gold price rose to US$1,948 per ounce for the year, up from US$1,795 per ounce in 2022, while its realized copper price held steady at US$3.85 per pound.

Production for the year totalled 4.05 million ounces of gold and 420 million pounds of copper compared with 4.14 million ounce of gold and 440 million pounds of copper in 2022.

This report by The Canadian Press was first published Feb. 14, 2024.

Companies in this story: (TSX:ABX)

9
-8