Mining Company Barrick Gold Posts Mixed Q3 Results Despite Higher Gold Production, Plans To Focus On Boosting Copper Portfolio
Portfolio Pulse from Lekha Gupta
Barrick Gold Corp (NYSE:GOLD) reported Q3 2023 revenue growth of 13% Y/Y to $2.86 billion, missing the consensus of $2.892 billion. Gold production increased by 5% Y/Y to 1.04 million ounces, while copper production declined by 9% Y/Y. The company plans to focus on boosting its copper portfolio. The company's shares are trading higher by 0.04% at $16.04.
November 02, 2023 | 6:54 pm
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Barrick Gold Corp reported a 13% Y/Y revenue growth but missed the consensus. The company plans to focus on boosting its copper portfolio.
Barrick Gold Corp's Q3 2023 revenue growth of 13% Y/Y is a positive sign, but the company missed the consensus, which could negatively impact investor sentiment. However, the company's plan to focus on boosting its copper portfolio could be seen as a strategic move to diversify its operations and could potentially drive future growth.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100