Gold prices scaled above $2,000 an ounce in early March as Russia’s invasion of Ukraine burnished its safe-haven appeal.
The quarter’s results and the dividend showed the company is solving some integration challenges from its 2018 buyout of Randgold Resources, Barrick Chief Executive Officer Mark Bristow said in an interview.
“A lot of the issues that have been worrying some people (about Barrick) have been addressed,” Bristow told Reuters. “There were a lot of big steps made this quarter.”
The company nearly doubled its quarterly dividend to 20 cents per share.
Like at other miners, gold production fell 10.1% to 990,000 ounces in the quarter, Barrick said, dented by lower output at its Nevada gold mines.
Omicron-variant caused labor shortages and other disruptions have forced miners to grapple with lower output. Rival Newmont in February warned of a hit of as much as 150,000 ounces in the first quarter.
Barrick said…
