Reported 18 days ago
Barrick Gold reported lower-than-expected third-quarter profits, attributed to increased costs and reduced output from Nevada mines. Total gold production in Nevada dropped to 385,000 ounces, while all-in sustaining costs surged to $1,507 per ounce. Despite these challenges, the company anticipates better performance in the fourth quarter and expects full-year targets to be met. The firm's stock saw a 1.5% dip amid market reactions, although gold prices climbed significantly during the quarter.
Source: YAHOO