Barrick Gold Corp., reported adjusted net earnings of $127 million ($0.11 per share), and a net loss of $83 million ($0.07 per share), in the first quarter of 2016.
The company generated $181 million in free cash flow in the first quarter, marking four consecutive quarters of positive free cash flow. First quarter EBITDA was $696 million. It also reported gold production in the first quarter was 1.28 million ounces at all-in sustaining costs (AISC) of $706 per ounce.
The company has reduced total debt by $842 million year-to-date, and contends it remains on track to achieve our $2 billion debt reduction target for the year.
Barrick also announced its board of directors have declared a dividend for the quarter of 2 cents per share, payable on June 15, to shareholders of record at the close of business on May 31.
For a full first-quarter report, go online at: http://www.barrick.com/investors/news/news-details/2016/Barrick-Reports-First-Quarter-2016-Results/default.aspx?utm_source=ext&utm_medium=email&utm_campaign=Q1-16.
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