Categories Earnings, LATEST, Other Industries

Barrick Gold Q2 earnings meet estimates

Barrick Gold Corporation (NYSE: GOLD) on Monday reported second-quarter earnings that were in line with the street estimates, even as the top-line registered a miss. Revenues in the second quarter fell 1% to $2.06 billion, compared to analysts’ projection of $2.14 billion.

Adjusted income edged up 2 cents to $0.09 per share, which were in line with the street consensus.

Barrick Gold Corporation
Source: Barrick Gold Site

GOLD shares gained 2.15% immediately following the earnings announcement. The stock has surged 66% in the last 12 months, as gold prices eclipsed the $1,500/ounce mark.  

Total gold production for the second quarter was 1.353 million ounces, verses 1.067 ounces in the same period last year. Copper production was up from 83 million pounds to 97 million pounds.

READ: 10 biggest US mergers & acquisitions announced so far in 2019

CEO Mark Bristow said annual gold production is currently expected to be at the upper end of the 2019 guidance range with cost metrics at the lower end of the ranges. 

Nevada Gold Mines, the joint venture launched on July 1, should impact positively on Barrick’s production profile and is on track to deliver synergies of up to $500 million per year in the first five years.

Barrick reiterated its annual gold production guidance to be in the range of 5.1-5.6 million ounces and all-in sustaining costs to be $870-920 per ounce. Copper production is expected at 375-430 million pounds with all-in sustaining costs per ounce anticipated at $2.40-2.90.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Aurora Cannabis (ACB) Earnings: 3Q21 Key Numbers

Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as

Walt Disney (DIS) Q2 revenue down 13%; earnings beat estimates

Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and

Three key factors that bode well for Tattooed Chef (TTCF) going forward

Shares of Tattooed Chef Inc. (NASDAQ: TTCF) have gained 57% over the past 12 months but has dropped 25% since the start of this year. The sentiment on the stock

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top