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Gold Prices Boost Barrick Gold's Q2 Profits; Says On Track For Strong H2: Details
Barrick Gold Corp (NYSE:GOLD) shares are trading higher after it reported second-quarter FY24 revenue of $3.162 billion (+12% Y/Y), beating the consensus of $3.114 billion.
Gold production stood at 948 thousand ounces (-6% Y/Y), and gold sales were 956 thousand ounces (-4% Y/Y).
The average realized gold price rose 19% Y/Y to $2,344 per ounce, and All-in sustaining costs (AISC) rose 11% Y/Y to $1,498 per ounce in the quarter.
Related: Global Gold Demand Hits Record in Q2 As Investors Push Price Higher
Copper production declined 10% Y/Y to 43 thousand tonnes, and the average realized copper price rose 22% Y/Y to $4.53 per pound.
Adjusted EPS of $0.32 exceeded the consensus of $0.27.
At the end of the quarter, cash and cash equivalents stood at $4.04 billion, and debt was $4.72 billion.
Capital expenditure rose 7% Y/Y to $819 million, and operating cash flow stood at $1.16 billion.
President and chief executive Mark Bristow ...