Barrick Gold Reports Q3 Net Loss of $264 Million

Barrick Gold Corp. (TSX:ABX,NYSE:ABX) announced its results for the third quarter of 2015, commenting that its adjusted net earnings came in at $131 million, or $0.11 per share. It incurred a net loss of $264 million, or $0.23 per share.
Gold production for the period came to 1.66 million ounces at an all-in sustaining cost of $771 per ounce.
Other highlights are as follows:

• Third quarter adjusted EBITDA was $942 million¹; EBITDA was $490 million¹.
• Free cash flow was $866 million¹, or $256 million excluding proceeds from the Pueblo Viejo streaming transaction.
• Full-year gold production is expected to be 6.1-6.3 million ounces.
• Full-year all-in sustaining cost guidance reduced to $830-$870 per ounce from previous range of $840-$880 per ounce.
• On track to achieve $2 billion in cash flow improvements by end of 2016.
• Total debt reduced by 15 percent year-to-date, on track to achieve $3 billion debt reduction target.
• Progressing drilling and feasibility study work to convert resources to reserves over the next five years at Cortez, Goldstrike, Lagunas Norte, Pueblo Viejo, Turquoise Ridge and other sites.

According to the Financial Post, the results are “solid” and “overall a good outcome” for the company.
Click here to read the full Barrick Gold Corp. (TSX:ABX,NYSE:ABX) press release.