Barrick Maintains Full-Year Outlook With No Major Surprises in 1Q; Shares Fairly Valued
There were few surprises in Barrick’s first quarter. Production of nearly 1.4 million ounces was 8% higher than the fourth quarter of 2018, with contributions from the Randgold mines offsetting production declines in Barrick’s legacy portfolio, particularly at Cortez. All-in sustaining costs rose to $825 per ounce from $788 per ounce in the fourth quarter of 2018 due to a combination of cost inflation and mix shift from the acquired assets.Management maintained nearly all its 2019 guidance figu...
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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