Highlights

  • Barrick Gold paid a USD 0.10 per share dividend for 3Q2024 on December 16
  • The company's 3Q2024 net revenue increased by 17.7% YoY, reaching USD 3,368.0 million
  • For FY24, Barrick Gold expects gold production between 3.90 and 4.30 million ounces.

Barrick Gold Corporation (TSX:ABX) is one of the world's largest gold producers. Its portfolio includes nine gold mines: Veladero, Kibali, Pueblo Viejo, Loulo-Gounkoto, Turquoise Ridge, Carlin, Bulyanhulu, Cortez, and North Mara.

Barrick Gold recently paid a dividend of USD 0.10 per share for 3Q2024. The dividend was paid on December 16, 2024, to shareholders of record as per the closing of business on November 29, 2024.

Finance and Operational Update

In the third quarter of 2024 (3Q2024), the company reported net revenue of USD 3,368.0 million, marking a 17.7% increase compared to the prior corresponding period (pcp). This growth was mainly due to higher realized prices. The uplift in revenue resulted in a significant rise in income before finance costs and income taxes, reaching USD 1,107.0 million, up 29.5% from USD 855.0 million in pcp.

During the reported period, income before income taxes increased by 27.6% YoY, totaling USD 1,025.0 million compared to USD 803.0 million in pcp. The company also posted a 33.3% YoY increase in net income, reaching USD 780.0 million, compared to USD 585.0 million in pcp.

Company Outlook

For FY24, management expects net gold production to range between 3.90 and 4.30 million of ounces, while copper production is projected to be between 180,000 and 210,000 tonnes.

Top 10 Shareholders

The top 10 shareholders of Barrick Gold Corporation collectively hold approximately 24.70% of total shares. Van Eck Associates Corporation and The Vanguard Group, Inc. hold the largest stakes at around 4.26% and 3.79%, respectively.

Stock Information

The stock price of ABX has decreased by approximately 3.94% over the past week and 12.16% over the last month.  As of December 23, 2024, the stock closed at CAD 22.39 which is lower than the average of its 52-week high of CAD 29.50 and 52-week low of CAD 18.65.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is December 23, 2024. The reference data in this report has been partly sourced from EODHD/Others.