{"id":32252,"date":"2023-05-03T10:12:27","date_gmt":"2023-05-03T10:12:27","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/barrick-beats-quarterly-profit\/"},"modified":"2023-05-03T10:15:30","modified_gmt":"2023-05-03T10:15:30","slug":"barrick-beats-quarterly-profit","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/barrick-beats-quarterly-profit\/","title":{"rendered":"Barrick beats quarterly profit estimates on higher prices"},"content":{"rendered":"

(Reuters) – Canadian miner Barrick Gold Corp beat Wall Street expectations for first-quarter profit on Wednesday, as higher prices of the metal outweighed a decline in production.<\/p>\n

Average prices of gold rose 7.8% and peaked over the $2,000-mark during the reported quarter on its appeal as a safe-haven asset following a banking crisis and fears of a potential recession.<\/p>\n

The company’s average realized gold prices stood at $1,902 per ounce, compared with $1,876 per ounce a year earlier.<\/p>\n

Barrick’s first-quarter gold production fell to 952,000 ounces from 990,000 ounces a year earlier. Its copper production stood at 88 million pounds, down from 101 million pounds a year earlier.<\/p>\n

The miner took a hit as harsh winter impacted its northern Nevada operations and annual maintenance weighed on output at its Goldstrike mine.<\/p>\n

The Toronto-based miner posted adjusted earnings of 14 cents per share for the quarter ended March 31, compared with analysts’ average estimate of 11 cents, according to Refinitiv IBES data.<\/p>\n

\n

(Reporting by Ankit Kumar; Editing by Shilpi Majumdar)<\/p>\n

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(Reuters) – Canadian miner Barrick Gold Corp beat Wall Street expectations for first-quarter profit on Wednesday, as higher prices of the metal outweighed a decline in production. Average prices of gold rose 7.8% and peaked over the $2,000-mark during the reported quarter on its appeal as a safe-haven asset following a banking crisis and fears […]<\/p>\n","protected":false},"author":8,"featured_media":32253,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-32252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ420C1-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/32252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=32252"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/32252\/revisions"}],"predecessor-version":[{"id":32254,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/32252\/revisions\/32254"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/32253"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=32252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=32252"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=32252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}