Trimmed 2017 Guidance Has Immaterial Impact on Our FVE for Barrick; Shares Fairly Valued
Gold production slowed during the third quarter, as Barrick produced roughly 1.2 million ounces at all-in sustaining costs, or AISC, of $772 per ounce compared with roughly 1.4 million ounces at AISC of $704 in the prior-year quarter. Based on year-to-date performance, the company trimmed the upside of its full-year guidance. Management now forecasts 2017 production of 5.3 million-5.5 million ounces at AISC of $740-$770 per ounce compared with prior guidance of 5.3 million-5.6 million ounces at ...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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