(Reuters) -Miner Barrick Gold Corp, on Wednesday reported a 6% rise in fourth-quarter profit and announced a share repurchase of up to $1 billion.
The miner also declared a dividend of 10 cents per share, an increase of 11% from the previous base quarterly dividend.
Barrick’s copper production improved nearly 6% to 126 million pounds, while the all-in sustaining cost (AISC) rose to $2.92 per pound from $2.42 per pound.
However, Barrick said average gold prices for the quarter fell to $1,793 per ounce from $1,871 per ounce a year earlier, while production fell marginally to 1.203 million ounces from 1.206 million ounces.
Spot gold has declined from record levels hit earlier in the pandemic as rising vaccinations and the reopening of the global economy hit bullion’s safe-haven appeal.
Net earnings rose to $726 million, or 41 cents per share, in the fourth quarter ended Dec. 31, from $685 million, or 39 cents per share, last year.
(Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath)
