Auf Barrick ist Verlaß .. wieder verkac*t:
Barrick Gold 3rd-Quarter Profit Falls 55%Last update: 11/1/2012 7:37:08 AM
By Judy McKinnon
Barrick Gold Corp. (ABX) said Thursday third-quarter earnings fell 55%, missing analyst expectations, as gold and copper sales fell, realized gold prices dropped and cash costs climbed. The Toronto-based gold producer, the world's largest by output, said third-quarter earnings fell to $618 million, or 62 cents a share, from $1.37 billion, or $1.36 a year earlier. Adjusted earnings were also lower, falling to $849 million, or 85 cent a share, from $1.38 billion, or $1.38 a year earlier. Results were well below the Thomson Reuters mean estimate for a profit of 98 cents a share. Revenue came in at $3.44 billion, down from $3.97 billion a year earlier and also below the $3.61 billion analysts were expecting. The company said it produced 1.78 million ounces of gold in the third quarter, down from 1.93 million a year earlier. Its average realized gold price fell 5%, while total cash costs climbed 31% to $592 an ounce. Copper production fell to 112 million pounds from 140 million a year earlier. Barrick said it expects full-year gold production of 7.3-7.5 million ounces, maintaining the low-end of its previous guidance, but lowering the top-end from its original 7.8 million-ounce-view. Total cash costs are now expected to be higher, at $575-$585 an ounce, up from its previous guidance of $550-$575 an ounce. Full-year copper production is expected to total 450 million pounds. Write to Judy McKinnon at judy.mckinnon@dowjones.com