Barrick Gold Reports Adj. Profit In Q4; Announces Share Buyback

(RTTNews) - Barrick Gold Corp. (GOLD, ABX.TO) posted a fourth quarter net loss of $735 million or $0.42 per share. The company reported adjusted net earnings per share of $0.13, for the quarter. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.12, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter revenues were $2.77 billion. Analysts on average had estimated $2.7 billion in revenue.

Barrick's Board has authorized a new program for the repurchase of up to $1.0 billion of the company's outstanding common shares over the next 12 months. Barrick has terminated the share repurchase program announced on February 16, 2022. The company repurchased $424 million in common shares under its 2022 share repurchase program.

Barrick Gold announced the declaration of a dividend of $0.10 per share for the fourth quarter of 2022. The dividend will be paid on March 15, 2023 to shareholders of record at the close of business on February 28, 2023.

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