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Barrick Gold Corp GOLD

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

Analyst Note

| Kristoffer Inton |

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.

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Company Profile

Business Description

Based in Toronto, Barrick Gold is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. In 2020, the firm produced nearly 4.8 million attributable ounces of gold and nearly 460 million pounds of copper. As of Dec. 31, 2020, Barrick had 68 million ounces and 13 billion pounds of proven and probable gold and copper reserves, respectively.

161 Bay Street, Brookfield Place, Suite 3700, P.O. Box 212
Toronto, ON, M5J 2S1, Canada
T +1 416 307-7405
Sector Basic Materials
Industry Gold
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 22,600