Barrick Gold Q2 Gold Production 1.01M Oz (-3.5% Y/Y)
Portfolio Pulse from Benzinga Newsdesk
Barrick Gold's Q2 gold production was 1.01 million ounces, a decrease of 3.5% year-over-year. The company also reported a 6% increase in gold sold and a 5% increase in the market gold price. However, the cost of sales and all-in sustaining costs for gold increased by 9% and 12% respectively. Copper production and sales also decreased by 11% and 16% respectively, while the cost of sales and all-in sustaining costs for copper increased by 35% and 9% respectively.
August 08, 2023 | 10:12 am
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Barrick Gold's Q2 results show a decrease in gold and copper production and sales, and an increase in costs. This could potentially impact the company's profitability and stock price.
The decrease in gold and copper production and sales, coupled with the increase in costs, could potentially lead to lower profitability for Barrick Gold. This could negatively impact the company's stock price in the short term.
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