Barrick Mining (GOLD) Stock Falls 6% as Rising Costs Hurt Q2 Earnings
TLDR
- Barrick reported Q2 adjusted EPS of $0.82, missing the LSEG estimate of $0.88 but beating the Zacks estimate of $0.81
- Revenue came in at $5.29 billion, beating Zacks consensus by nearly 18%
- Gold all-in sustaining costs rose 11% to $1,866 per ounce, driven by higher fuel costs and lower ore grades
- Barrick and Newmont reached a $1.95 billion deal to resolve Nevada Gold Mines disputes
- U.S.-listed Barrick stock fell nearly 6% in premarket trading
Barrick Mining posted Q2 adjusted earnings of $0.82 per share, falling short of the LSEG analyst consensus of $0.88 per share. U.S.-listed stock dropped nearly 6% in premarket trading on the news.
Revenue for the quarter came in at $5.29 billion, well above the Zacks consensus estimate, and up from $3.68 billion a year ago.
The realized gold price jumped 34% year-over-year to $4,417 per ounce. Gold output was flat at 796,000 ounces.
BARRICK MINING $B EARNINGS ARE OUT!
๐ด EPS: $0.82 | Est. $0.84
๐ข REV: $5.29B | Est. $5.08B
IMPLIED MOVE TODAY: ยฑ5.54%!! pic.twitter.com/46OrfC0tGnโฆ Continue reading the full article at the original source below.
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