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Barrick Gold Corp ABX

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Morningstar’s Analysis

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Solid Q3 Puts Barrick on Track to Reach Full Year Guidance, but Lofty Gold Price Limits Upside

Analyst Note

| Kristoffer Inton |

Barrick Gold announced third-quarter results highlighted by solid performance and few surprises. Despite the COVID-19 pandemic, most of the company’s operations have continued to operate with the proper safety precautions in place. Attributable gold production of more than 1.1 million ounces was roughly flat from the second quarter and down 12% from the prior year quarter. All-in sustaining costs, or AISC, of $966 per ounce were down 6% from the second quarter and 2% lower than the prior year quarter.

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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 2019, the firm produced nearly 5.5 million attributable ounces of gold and more than 430 million pounds of copper, boosted by the acquisition of Randgold at the end of 2018. As of Dec. 31, 2019, Barrick had 71 million ounces and 13.5 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 Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type
Employees 22,500