Barrick Gold Continues Solid Execution Into Second Quarter, but Gold Price Limits Upside
Barrick Gold continued its strong performance through the second quarter of 2016. While gold production fell to more than 1.3 million ounces compared with more than 1.4 million ounces in the prior-year quarter, Barrick produced those ounces more profitably. All-in sustaining costs, or AISC, fell to $782 per ounce compared with $895 per ounce in the first quarter of 2015. Although management lowered its 2016 cost guidance, our prior forecast already sat on the low end of guidance from last quarte...Barrick Gold is engaged in the production and sale of gold, as well as related activities such as exploration and mine development. Co. also produces copper and hold interests in oil and gas properties located in Canada. Co.'s mining operations are concentrated in three regional business units: North America, South America and Australia Pacific. Co. also hold a 73.9% equity interest in African Barrick Gold plc that owns gold mines and exploration properties in Africa. Co.'s copper business unit contains producing copper mines located in Chile and Zambia; and a mine under construction located in Saudi Arabia.
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