GOLD - Barrick Gold's Golden Cross Opportunity — Analyst Sees 'Ample Opportunity For Catch Up' Post Q1 | Benzinga
Barrick Gold Corp (NYSE:GOLD) recently reported its first-quarter (Q1) earnings, surpassing Street estimates and offering a positive outlook for the future.
Strong Q1 Financial Performance and Outlook
In Q1 2024, Barrick reported adjusted EPS of $0.19, beating the $0.15 estimate. Sales of $2.747 billion came in line with expectations. The company’s capital expenditure for 2024 is projected to be between $2.5 billion and $2.9 billion. Despite missing Q1 production targets, Barrick maintains its 2024 outlook, expecting steady gold production increases.
Related: Barrick Gold Maintains FY24 Outlook Despite Q1 Production Miss
Analyst Sees Ample Opportunity For ‘Catch Up’
BMO Capital Markets’ analyst Jackie Przybylowski’s recent insights on Barrick Gold’s performance and outlook provide a compelling investment thesis for the company.
Barrick’s strong Q1 2024 earnings, which beat Street estimates, reflect the company’s ability to navigate challenges and deliver solid results. “It’s early in the year, and we see sufficient time and
ample opportunity for ‘catch up’,” said Przybylowski.
Additionally, management’s credible plan to improve production and costs ...