Corrected: BUZZ-Canadian miner Barrick falls after Q2 results
CORRECTED-BUZZ-Canadian miner Barrick falls after Q2 results Corrects headline and bullets 2 and 3 to show profit met consensus estimates, not missed
** U.S.-listed shares of Barrick Mining ABX.TO, B.N fall over 8% to $40.09
** Co meets Q2 profit estimates; higher costs and weaker gold production pressured results
** Posts Q2 adjusted profit of 82 cents per share vs estimate of 82 cents per share - data compiled by LSEG
** Q2 gold production drops to 796,000 ounces, compared with 797,000 ounces a year earlier
** ABX and Newmont NEM.N have settled all disputes over their Nevada Gold Mines joint venture, with Newmont agreeing to pay Barrick $1.95 billion
** ABX will transfer its Fourmile project to the Nevada Gold Mines joint venture, while Newmont will transfer its Mike and Fiberline projects
** TD Cowen says the agreement removes a key overhang for the planned North America IPO, but the price was "below what we had been anticipating"
** "We currently model 38.5% of Fourmile at $6.6 billion, or $4.7 billion more than the $1.95 billion being received, which we think represents a high cost to settle the disputes and IPO" - TD Cowen analysts
** Including session's moves, stock down 7.7% YTD
(Reporting by Sumit Saha and Vallari Srivastava in Bengaluru)