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Barrick Gold posts lower 3rd-qtr profit on declining metal prices

Published 2018-10-24, 05:13 p/m
© Reuters.  Barrick Gold posts lower 3rd-qtr profit on declining metal prices
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TORONTO, Oct 24 (Reuters) - Barrick Gold Corp ABX.TO , which has agreed to a $6.1 billion deal to acquire Randgold Resources Ltd RRS.L , reported a drop in third-quarter adjusted profit and revenue on Wednesday, hit by lower prices for gold and copper alongside higher fuel costs.

Adjusted net earnings for the quarter ended Sept. 30 were $89 million, or 8 cents a share, compared with $200 million, or 17 cents a share in the same three-month period a year ago.

That beat the 5 cents per share adjusted profit that analysts, on average, had expected, according to Refinitiv.

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