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Barrick Gold trades higher, production up slightly

Kitco Media
By Michael McCrae
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Barrick Gold trades higher, production up slightly teaser image

(Kitco News) - Barrick Gold (TSE: ABX) reported its Q2 today.

Net earnings were up 25% and the attributable EBITDA margin was up 17% quarter on quarter to 48%.

Operating cash flow was $1.16 billion, an increase of $340 million.

Net earnings per share were up 24% to 21 cents, adjusted net earnings per share increased by 68% to 32 cents. Reuters reported that Barrick's Q2 beat Wall Street estimates.

Gold production was 948,000 ounces in Q2, up 0.8% from the prior quarter and a 6% decrease for the same period a year ago.

All-in sustaining costs were $1,498, up 1.6% from the prior quarter.

Average realized gold prices was up 12% to $2,344 in the second quarter.

The company declared a 10 cent dividend.

The company was up 8% to $25.98 a share as of 1:30 p.m. ET. 

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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