Actionable news
0
All posts from Actionable news
Actionable news in ABX: BARRICK GOLD Corp,

Barrick Gold Cuts Production, Costs And Capex

Summary

Barrick Gold announced it revised down again its annual production guidance.

The company plans to reach its annual goals of cutting $3 billion of debt.

The gold producer plans to sell more assets in the fourth quarter to reduce its debt.

The third quarter earnings report of Barrick Gold (NYSE:ABX) revealed that the gold producer beat market estimates with an adjusted net earnings of $0.11 per share - the market expected the EPS will be $0.07. This was mostly due to lower production costs of gold and copper. The company is on course to reduce its debt by $3 billion and plans to reduce further its debt with more non-core selloffs in the next quarter; ABX slightly reduced its all-in sustaining costs for the year but also its production guidance.

In the past quarter, Barrick Gold produced 1.6 million ounces of gold. The quarterly output was a lower...


More