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May 4, 2022, 6:17 a.m. EDT

Barrick Gold stock gains after profit beats expectations, dividend doubled

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By Tomi Kilgore

Shares of Barrick Gold Corp. /zigman2/quotes/201432642/composite GOLD -0.75% /zigman2/quotes/209252292/delayed CA:ABX -0.35% rose 0.4% in premarket trading Wednesday, after the gold miner reported first-quarter profit that fell less than expected and doubled its dividend, as the realized gold price climbed 5.6%. Net income declined to $438 million, or 25 cents a share, from $538 million, or 29 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 26 cents beat the FactSet consensus of 24 cents. Revenue fell 3.5% to $2.85 billion, matching the FactSet consensus, while cost of sales increased 1.6% to $1.74 billion. Realized gold price per ounce rose to $1,876 from $1,777, while gold production declined 10.1% to 990,000 ounces. The company raised its quarterly dividend to 20 cents a share, including a 10-cent performance dividend, from 10 cents a share, with the new dividend payable June 15 to shareholders of record of May 27. The stock has rallied 18.0% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.14% has dropped 12.4%.

/zigman2/quotes/201432642/composite
US : U.S.: NYSE
$ 15.93
-0.12 -0.75%
Volume: 20.84M
Oct. 5, 2022 2:48p
P/E Ratio
14.12
Dividend Yield
3.72%
Market Cap
$28.29 billion
Rev. per Employee
$557,746
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/zigman2/quotes/209252292/delayed
CA : Canada: Toronto
$ 21.64
-0.08 -0.35%
Volume: 2.96M
Oct. 5, 2022 2:33p
P/E Ratio
15.21
Dividend Yield
2.35%
Market Cap
$38.45 billion
Rev. per Employee
$706,058
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/zigman2/quotes/210599714/realtime
US : S&P US
3,785.79
-5.14 -0.14%
Volume: 2.22B
Oct. 5, 2022 2:48p
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