Barrick Gold Reports $2.84-billion Loss for 2015

Barrick Gold Corp. (TSX:ABX,NYSE:ABX) released its results for Q4 2015, as well as 2015 as a whole, reporting adjusted net earnings of $344 million, or $0.30 per share, for the year.
Other highlights are as follows:

• In 2015, despite lower gold prices, Barrick recorded positive free cash flow for the first time in four years, generating$471 million^1,2 in free cash flow for the full year, and $387 million in the fourth quarter.
• Adjusted net earnings were $344 million ($0.30 per share)¹ for the full year and $91 million ($0.08 per share) in the fourth quarter. A net loss of $2.84 billion ($2.44 per share) for the full year and $2.62 billion ($2.25 per share) in the fourth quarter reflects the impact of $3.1 billion in previously announced after-tax impairment charges.
• For 2016, production guidance is 5.0-5.5 million ounces of gold at all-in sustaining costs of $775-$825 per ounce, and 370-410 million pounds of copper at all-in sustaining costs of $2.05-$2.35 per pound.^1,3
• In 2015, the company’s total debt was reduced by $3.1 billion, or 24 percent; our debt reduction target for 2016 is at least $2 billion.
• Proven and probable gold reserves were 91.9 million ounces as of December 31, 2015.⁴ In addition, we have reported an initial inferred resource of 5.5 million ounces at our Alturas discovery in Chile.

The company also declared a quarterly dividend of US$0.02 per share. It’s payable on March 15, 2016 to shareholders of record as of February 29, 2016.
Click here to read more about Barrick’s results.
Click here to read about the company’s dividend.