Barrick on Track to Hit 2021 Guidance as Few Surprises in Q1, but Lofty Gold Price Overshadows

Barrick Gold reported steady first-quarter results that led to it reiterating its full-year guidance. During the quarter, the company produced 1.1 million attributable ounces at all-in sustaining costs of $1,018 per ounce compared with first-quarter 2020 production of 1.25 million ounces at AISC of $954 per ounce. Barrick is on track to hit 2021 targets of 4.4 million to 4.7 million ounces at AISC of $970 to $1,020 per ounce, especially as it expects performance to be weighted toward the back half of the year.