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Barrick Gold (TSX: ABX) Forecasts Gold Production Between 3.90 and 4.30Moz for FY24
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Highlights
Barrick Gold Corporation (TSX: ABX) is one of the prominent gold producers globally. The company operates mines in Australia, Africa, South America, and North America. Recognizing copper's growing importance for the global green energy transition, the company prioritized expanding its copper portfolio. This strategy was established during the merger with Randgold about half a decade ago. Barrick Gold has a market cap of CAD 44.24bn. Its annual dividend yield stands at 2.23%.
In Q3 2024, the company reported net revenue of USD 3,368.0 million, an increase of 17.7% compared to the prior corresponding period (pcp). This rise in revenue was attributed to higher realized prices. The company also saw a 29.5% increase in income before finance costs and income taxes, reaching USD 1,107.0 million, from USD 855.0 million in pcp. Income before income taxes rose by 27.6%, reaching USD 1,025.0 million, compared to USD 803.0 million in pcp. Overall, net income for the period increased by 33.3%, reaching USD 780.0 million, from USD 585.0 million in pcp.
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