Barrick Gold Corp., the largest producer of the metal, reported first-quarter profit that beat analysts’ estimates after costs were better than expected. The company also said it may suspend a Latin American project.
Earnings excluding foreign-currency losses and other one-time items were 92 cents a share, Toronto-based Barrick said today in a statement. That beat the 86-cent average of 21 estimates compiled by Bloomberg. The company’s so-called total cash cost to produce an ounce of gold was $561, compared with $540 a year earlier and the $654 average of six estimates.