Barrick Gold Q3 Profit Down

(RTTNews) - Barrick Gold Corp. (ABX, ABX.TO) reported that its net earnings attributable to equity holders of the company for the third quarter were $125 million or $0.11 per share down from $172 million or $0.17 per share in the prior year quarter.

Adjusted net earnings fell to $222 million or $0.19 per share from $577 million or $0.58 per share in the prior year period. The decrease was primarily due to lower gold and copper sales volumes and lower realized gold and copper prices, partially offset by lower cost of sales applicable to gold and copper.

Revenue for the quarter dropped to $2.598 billion from $2.985 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share and revenues of $2.50 billion for the quarter. Analysts' estimates typically exclude special items.

The company also announced that its Board has declared a dividend for the quarter of US5 cents per share, payable on December 15, 2014 to shareholders of record at the close of business on November 28, 2014.