Analyst Note| Kristoffer Inton |
On Aug. 10, Barrick Gold announced second-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. Second-quarter gold production declined by about 8% from a year ago to 1.1 million ounces and all-in sustaining costs (AISC) rose about 8% to $1,031 per ounce. Nevertheless, Barrick maintained its full-year guidance of 4.6 million to 5 million ounces at AISC of $920 to $970 per ounce.