No Surprises in Barrick's 1Q Results; Shares Fairly Valued as Management Maintains 2018 Outlook
During the first quarter, Barrick Gold’s gold production fell by about 20% to just over 1 million ounces from 1.3 million in the prior-year quarter. However, the production decline was expected given the sale of half of Veladero, lower throughput at Acacia, lower grades at Barrick Nevada, and lower throughput and grades at Hemlo and Lagunas Norte.All-in sustaining costs, or AISC, rose about 4% to $804 per ounce due to lower production, higher royalties from higher gold prices, and a planned inc...
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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