UPDATE: Barrick Gold Edging Higher Pre-Market on Q4 Results

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Excluding a US$3 billion writedown on a Zambian copper mine and other items, Barrick Gold Corporation ( ABX ), reported fourth quarter 2012 earnings per share of $1.11, topping consensus estimate of $1.06. Revenues were $4.2 billion, better than the analyst estimate of $3.9 billion.

But including the writedown, the loss was $3.06 billion, or $3.06 a share, compared with net income of $959 million, or 96 cents in the previous corresponding period.

For the year 2013, the company anticipates gold production to be in the range of 7.0-7.4 million ounces. Copper production in 2013 is expected to increase to 480-540 million pounds.

Shares have reversed from earlier pre-bell declines.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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