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Stock news for investors: Barrick leads earnings gains as major Canadian companies report mixed Q3 results
MoneySenseยท 2025-11-13 17:16
Company Performance - Barrick's revenue totaled US$4.15 billion, an increase from US$3.37 billion year-over-year [1] - Barrick's adjusted earnings per share rose to 58 cents, compared to 30 cents per share a year ago [1] - MEG Energy reported net earnings of $159 million, down from $167 million in the same period last year [5][7] - Loblaw's profit attributable to common shareholders was $794 million, up from $777 million a year ago [9][13] - Manulife's net income attributed to shareholders was $1.8 billion, slightly down from $1.84 billion year-over-year [15] Production and Pricing - Barrick's gold production decreased to 829,000 ounces from 943,000 ounces a year ago, while the realized gold price increased to US$3,457 per ounce from US$2,494 per ounce [2] - Copper production for Barrick rose to 55,000 tonnes from 48,000 tonnes, with a realized copper price of US$4.39 per pound, up from US$4.27 per pound [2] - MEG Energy's production reached a record of 108,166 barrels per day, compared to 103,298 barrels per day in the prior-year quarter [6] Dividends and Corporate Changes - Barrick increased its quarterly base dividend to 12.5 cents per share from 10 cents, with an additional performance dividend of five cents per share, totaling 17.5 cents per share [3] - Barrick appointed Mark Hill as interim president and CEO following the departure of Mark Bristow, and is seeking a permanent replacement [3] Market Trends - Loblaw's food retail same-store sales increased by 2%, while drug retail same-store sales rose by 4%, with pharmacy and health-care same-store sales growth of 5.9% [11] - Manulife's core earnings in Asia and Canada reached record levels, with US$550 million in Asia and US$428 million in Canada [16]