Barrick Gold Corp. reported a US$735-million loss in its fourth quarter compared with a profit of US$726 million in the same quarter a year earlier.

The gold miner, which reports its results in U.S. dollars, says the loss amounted to 42 cents per diluted share for the quarter ended Dec. 31 compared with a profit of 41 cents per diluted share in the last three months of 2021.

Revenue in the quarter totalled US$2.77 billion, down from US$3.31 billion a year earlier.

On an adjusted basis, Barrick says it earned 13 cents per share in its latest quarter, down from an adjusted profit of 35 cents per share in the fourth quarter of 2021.

Analysts on average had expected a profit of 11 cents per share for the quarter, according to financial markets data firm Refinitiv.

For the full year, Barrick reported a profit of US$432 million or 24 cents per share and US$11.01 billion in revenue compared with a profit of US$2.02 billion or US$1.14 per and US$11.99 billion in revenue in 2021.

This report by The Canadian Press was first published Feb. 15, 2023.