Barrick Gold Misses Earnings: Reports Lower Gold Sales And Copper Output

Barrick Gold Corp (NYSE:GOLD) shares are trading lower after it reported third-quarter FY24 revenue of $3.368 billion (+18% year over year), missing the consensus of $3.416 billion. 

Gold production stood at 943 thousand ounces (-9%), and gold sales were 967 thousand ounces (-6%).

The average realized gold price rose 29% to $2,494 per ounce, and all-in-sustaining costs (AISC) rose 20% to $1,507 per ounce in the quarter.

Read: Barrick Sees Stable Gold Output In Q3, Prepares For Stronger Q4

Copper production declined 6% to 48 thousand tonnes, and the average realized copper price rose 13% to $4.27 per pound.

Adjusted EPS of 30 cents missed the consensus of 31 cents.

At the end of the quarter, cash and cash equivalents stood at $4.23 billion, and debt was $4.725 ...