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Barrick Gold misses 1Q profit forecasts

TORONTO (AP) _ Barrick Gold Corp. (ABX) on Monday reported first-quarter net income of $679 million, after reporting a loss in the same period a year earlier.

The Toronto-based company said it had net income of 58 cents per share. Earnings, adjusted for non-recurring gains, came to 14 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The gold and copper mining company posted revenue of $1.99 billion in the period.

Barrick Gold shares have increased 19 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $19.04, a climb of 18 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABX at https://www.zacks.com/ap/ABX


Keywords: Barrick Gold, Earnings Report