{"id":1165155,"date":"2020-02-12T05:49:22","date_gmt":"2020-02-12T11:49:22","guid":{"rendered":"https:\/\/www.mining.com\/?p=1013711"},"modified":"2020-02-12T05:49:22","modified_gmt":"2020-02-12T11:49:22","slug":"barrick-beats-forecasts-hikes-dividend-by-40-as-gold-prices-soar","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1165155","title":{"rendered":"Barrick beats forecasts, hikes dividend by 40% as gold prices soar"},"content":{"rendered":"<p>Barrick Gold (TSX: ABX) (NYSE: GOLD)\u00a0<a href=\"https:\/\/barrick.q4cdn.com\/788666289\/files\/doc_financials\/2019\/q4\/2019-Q4-Report-and-MD-A.pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">posted on Wednesday<\/a> a\u00a0better-than-expected\u00a0quarterly profit and gave investor a more than welcome 40% dividend increase thanks to strong gold prices.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The world\u2019s second largest producer of the yellow metal said<br \/>\nadjusted net earnings in the three months to December reached $300 million, or<br \/>\n17 cents a share, up from $264 million recorder in the previous quarter.<br \/>\nAnalysts\u2019 average estimate&nbsp;was 14 cents a share.<\/p>\n<p>The results, along with Barrick halving its deb to $2.2<br \/>\nbillion over the course of 2019, allowed the miner to declare a dividend of 7<br \/>\ncents a share, up from 5 cents in third quarter, payable on March 16. <\/p>\n<p>\u201cThe board believes the dividend increase is justified by the significant reduction in net debt and strong balance sheet, together with the growth in free cash flow supported by a robust 5-year plan which we have shared with the market,\u201d executive vice-president and chief financial officer, Graham Shuttleworth, <a href=\"https:\/\/barrick.q4cdn.com\/788666289\/files\/doc_financials\/2019\/q4\/2019-Q4-Report-and-MD-A.pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in a statement<\/a>. <\/p>\n<p>Gold prices increased about 18% last year, as investors<br \/>\nsought safe-haven assets due to global uncertainty triggered by the long-drawn<br \/>\nout trade war between the United States and China.<\/p>\n<p>Barrick has also benefited from the $1 billion fetched through asset sales since chief executive Mark Bristow <a href=\"https:\/\/www.mining.com\/new-era-barrick-gold-begins\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">took the helm in January 2019<\/a>.<\/p>\n<p><em>More to come&#8230;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The miner will pay a dividend of 7 cents a share, up from 5 cents in the previous quarter.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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