Barrick Gold exceeds earnings estimates and announces stock buyback program

Barrick Gold Corp. superó las estimations de ganancias, aumentó los dividendsos y dio a conocer un programa de recompra de aciones a medida que reduce los costos y eleva la producción.

The mine with headquarters in Toronto crowned a tenth consecutive increase in quarterly profits, increased its dividend and regular quarterly earnings by 11% and said that its directory authorized the repurchase of up to US$ 1 billion in ordinary shares during the next 12 months.

“The shares are quoted in a price range that does not reflect the value of the company’s financial and mining assets and future commercial prospects,” executive director Mark Bristow said in a statement. “Tenemos la fortaleza financiera para emprender este programa”, he added.

Barrick is returning to the production levels of a year ago and dealing better than the majority with adjusted labor markets and flats, energy and other more expensive inputs in the middle of the continuous problems of the supply chain. This generates enough cash to finance the development of projects.

Barrick has benefited from a rebound in gold prices in the last few weeks, with its shares subiendo 8% in February.

With regard to production, the company has returned to the levels of a year ago after improvements in its joint venture from Nevada with Newmont Corp.

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