ORONTO Gold miner Barrick Gold Corp.'s third-quarter profit jumped 45 percent on gold prices that hit one new high after another during the quarter. The Toronto-based company, the world's largest gold miner, said Thursday that its net income for the quarter ended Sept. 30 was $1.37 billion, or $1.36 per share, up from $942 million, or 94 cents per share, during the same period last year. Revenue during the quarter jumped 44 percent to $4.01 billion, from $2.79 billion last year. Adjusted income excluding one-time items was $1.39 per share, compared with 93 cents last year. The results beat analyst expectations for adjusted net income of $1.33 per share on $3.85 billion in revenue, according to a poll by FactSet. Barrick reaped a windfall from historically high gold prices. The price of gold on global futures markets hit a record price of $1,891.90 per ounce in late August. That's about 53 percent higher than the price a year before, when gold traded around $1,233 per ounce. Gold prices have been driven up by speculators who are investing in the precious metal as way to protect their investments against inflation and economic uncertainty. For companies like Barrick, the higher price means a much bigger profit margin on the gold they have mined from the ground. Shares of Barrick rose 87 cents, or 1.8 percent, to $48.72 in midday trading.

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