Barrick Gold (ABX.TO: Quote), the world's top gold miner, reported a 45 percent increase in its quarterly profit on Thursday, driven by a sharp increase in bullion prices

Toronto, Ontario-based Barrick said its third-quarter net income rose to $1.37 billion, or $1.36 a share, from a year-earlier profit of $942 million, or 94 cents.

Excluding one-time items, profit rose to $1.39 billion or $1.39 a share, from $912 million or 93 cents.

Barrick on Wednesday announced that its board authorized a 25 percent increase in its quarterly dividend.

($1= $1 Canadian)

(Reporting by Euan Rocha in Toronto)