3 Takeaways From Barrick Gold's Q3 Earnings
Reporting third-quarter adjusted earnings of $0.16 per share, Barrick Gold (NYSE: ABX) recognized a 33% drop from the adjusted earnings of $0.24 per share which it reported during the same period last year. Undesirable as it may be for investors, there are much more important things to discern from the company's earnings report.
Strengthening its balance sheet, Barrick lowered its debt by $990 million during the quarter. Consequently, Barrick, having reduced its debt by $1.48 billion through the first nine months of fiscal 2017, exceeded its annual debt-reduction target of $1.45 billion. Management's attention to shoring up the balance sheet is not new. It began in 2014 when the company identified the goal of reducing its total debt from $13 billion to $5 billion by the end of fiscal 2018.
Image source: Getty Images.
Source: Fool.com
