Barrick Gold Well-Positioned for Strong Finish to 2021

SEATTLE (Scrap Monster): Barrick Gold announced Q3 operating results, positioning the company for a strong finish to the year 2021. The company is likely to meet the top end of their production guidance during the year.

According to company press release, the mines in Africa and Middle East (AME) and Latin American regions delivered strong third quarter production. Also, the Nevada Gold Mines (NGM) witnessed improvement over the prior quarter. The restoration of the Carlin mill operations will ensure enhanced results during the upcoming quarter.

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Barrick Gold reported attributable gold production for the quarter of 1.09 million ounces at an all-in sustaining cost of $1,034 per ounce, while the year-to-date production totalled 3.23 million ounces. Meantime, the attributable copper production in Q3 was 100 million pounds during the quarter and 289 million pounds during the year-to-date period. The company reported net earnings per share of 20 cents and adjusted net earnings per share of 24 cents during the quarter.

In Q3, the operating cash flow and free cash flow amounted to $1,050 million and $481 million respectively.

The company also raised its dividend to 9 cents per share and announced that the third tranche of $250 will be paid to shareholders on 15^th December, 2021.