Trimming Barrick Fair Value Estimate; Recent Gold Price Increase Likely to Reverse in 2018
Barrick's gold production fell by about 3.5% in 2017 to 5.3 million ounces, and all-in sustaining costs (AISC) crept up slightly by less than 3% to $750 per ounce. Though free cash flow weakened during the year as sustaining capital expenditures rose, the company was still able to reduce debt by nearly $1.5 billion in the year. Management aims to reduce its roughly $6.4 billion debt burden to about $5 billion in 2018. Having made significant progress on strengthening its balance sheet, Barrick w...
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