Barrick Gold's Q4: Earnings Shine, Buyback Glitters & More
Portfolio Pulse from Lekha Gupta
Barrick Gold Corp (NYSE:GOLD) reported Q4 revenue of $3.06 billion, surpassing consensus estimates. Gold production and sales slightly increased, while the average realized gold price rose 3%. Copper production also saw a minor increase. Adjusted EPS was $0.27, beating expectations. The company announced a Q4 dividend of $0.10 and a new $1.0 billion share buyback program. FY24 outlook includes gold production of 3.9-4.3 million ounces and capital expenditure of $2.50-$2.90 billion. GOLD shares dropped 1.13% to $13.99.
February 14, 2024 | 3:14 pm
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POSITIVE IMPACT
Barrick Gold Corp reported higher than expected Q4 revenue and EPS, announced a dividend, and initiated a new $1 billion share buyback program. FY24 outlook includes significant gold and copper production.
The positive earnings report, exceeding consensus estimates, and the announcement of a dividend and a substantial share buyback program are likely to be viewed positively by investors. However, the slight drop in share price on the day of the announcement may reflect short-term market reactions or external factors not detailed in the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100