The Toronto company reported net income of $959 million, or 96 cents per share, in the October-December quarter, compared with $961 million, or 96 cents per share, in the year-ago quarter.
Revenue totaled $3.79 billion, up from $3.01 billion, as the company benefited from higher average gold prices.
Excluding one-time items, Barrick said its adjusted net income was $1.17 per share.
Analysts surveyed by FactSet had predicted earnings of $1.31 per share on revenue of $3.82 billion.
During the quarter, Barrick produced 1.81 million ounces of gold, compared with 1.7 million ounces a year ago. Average realized gold prices rose nearly 22 percent to $1,664 per ounce. Total cash costs increased 15 percent to $505 per ounce.
Copper production rose to 143 million pounds from 82 million pounds in the fourth quarter of 2010. Average realized prices fell to $3.69 per pound from $3.99 per pound a year ago. Total cash costs increased to $1.99 per pound from $1.08 per pound.
For the year, Barrick reported net income of $4.5 billion, or $4.48 per share, compared with $3.6 billion, or $3.59 per share, in 2010. Revenue rose 30 percent to $14.3 billion.
Barrick expects to produce 7.3 million ounces to 7.8 million ounces of gold in 2012 at total cash costs of $520 per ounce to $560 per ounce. Copper production was forecast at 550 million pounds to 600 million pounds at total cash costs of $1.90 per pound to $2.20 per pound.
Barrick's U.S. shares fell 55 cents to $46.88 in midday trading in New York.
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