The decline may reflect profit-taking after Barrick shares rallied nearly 30% since mid-July. Despite Monday’s pullback, the stock remains up 78.06% over the past 12 months.
Earnings Snapshot
Barrick reported second-quarter adjusted earnings of 82 cents per share, beating the analyst estimate of 78 cents. Revenue of $5.29 billion topped the $4.53 billion consensus estimate, helped by higher realized gold and copper prices.
Operating cash flow rose 28% year over year to $1.70 billion. Net earnings increased 50% to $1.22 billion.
Barrick repurchased $1.2 billion of shares during the quarter. Total shareholder returns reached $1.50 billion, up 242% from a year earlier.
