Barrick Gold Shares Losing Shine On Q4 Preliminary Report Despite Results From Cortez, Phoenix, Pueblo Viejo
Portfolio Pulse from Lekha Gupta
Barrick Gold Corp (NYSE:GOLD) shares fell after reporting Q4 2023 preliminary results with copper production at the lower end of guidance and gold production below guidance. Q4 saw the highest gold production of the year, but costs are expected to rise. Full results will be announced on Feb. 14. GOLD shares dropped 1.98% in premarket trading.
January 16, 2024 | 2:54 pm
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NEGATIVE IMPACT
Barrick Gold Corp's shares declined following preliminary Q4 results indicating copper production at the low end of guidance and gold production below expectations, with increased costs.
The stock price of Barrick Gold Corp is likely to face downward pressure in the short term due to the preliminary Q4 report showing production figures at the lower end or below the provided guidance, which can be disappointing to investors. Additionally, the expected increase in costs could further weigh on profitability and investor sentiment. The premarket trading already reflects a negative reaction to the news.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100