Barrick Gold Maintains FY24 Outlook Despite Q1 Production Miss
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 01 2024
0mins
Should l Buy GOLD?
Source: Benzinga
- Financial Performance: Barrick Gold Corp reported first-quarter revenue of $2.747 billion, with a 4% year-over-year increase, in line with consensus.
- Production and Sales: Gold production was 940 thousand ounces (1% decrease Y/Y), while gold sales were 910 thousand ounces (5% decrease Y/Y).
- Prices and Costs: Average realized gold price rose 9% Y/Y to $2,075 per ounce, and all-in sustaining costs increased by 8% to $1,474 per ounce.
- Outlook and Investments: Barrick reiterated its FY24 outlook, expecting gold production between 3.9-4.3 million ounces and AISC between $1,320-$1,420 per ounce. The company also made an exploration agreement in Jamaica.
- Dividend and Future Plans: Barrick declared a dividend of $0.10 per share, payable in June. The company aims for steady gold production growth in 2024 through various projects and expansions.
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Analyst Views on GOLD
Wall Street analysts forecast GOLD stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 41.810
Low
30.00
Averages
44.33
High
63.00
Current: 41.810
Low
30.00
Averages
44.33
High
63.00
About GOLD
Gold.com, Inc. provides a fully integrated alternative assets platform offering a range of precious metals, numismatic coins and collectibles to consumers, collectors, and institutional clients. Its flagship brands include JMBullion.com, Stack’s Bowers Galleries, GovMint.com, Monex Precious Metals and Goldline. Its vertically integrated platform combines market expertise in gold, silver, platinum and palladium and collectibles that include rare coins and currency with logistics, financing, and minting capabilities to serve consumers, collectors, and institutional clients globally. Its segments include Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. Wholesale Sales & Ancillary Services segment operates as a full-service precious metals company. It operates its Direct-to-Consumer segment through its subsidiaries JM Bullion, Inc., Goldline, Inc., SGI, Pinehurst, AMS Holding, LLC, AM LPM Singapore PTE Ltd., and through its investment in Silver Gold Bull, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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