As expected, the decline in gold prices over the last twelve months negatively impacted the company’s profits. However, Barrick’s ongoing efforts to reduce operating costs and improve the productivity of its operations, aided by favorable currency movements, helped partially offset the impact of weak gold prices on earnings. The company’s adjusted net earnings, which exclude the impact of non-recurring items on earnings, declined by roughly 41% year-over-year to $131 million in Q3 2015. The key takeaway from the earnings conference call was the management’s continuing focus on reducing operating costs and the company’s debt. Such a strategy would allow the company to operate competitively in an environment of weak gold prices.
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