GOLD - Barrick Gold: Significant Margin Recovery On Deck
2024-04-16 13:55:00 ET
Summary
- Barrick Gold Corporation released its Q1 2024 production results, reporting a slight dip in gold production, but it's tracking in line with its annual guidance.
- However, while Q1 will see only moderate margin improvement, we should see a 600+ basis point improvement in AISC margins year-over-year in Q2 2024.
- In this update, we'll dig into the company's preliminary Q1 2024 results, recent developments, and why the stock looks like a solid buy-the-dip candidate.
It's been a much better Q2 than Q1 for the Gold Miners Index ( GDX ) with the price of gold successfully breaking out above the $2,070/oz level and providing a substantial lift to margins for the gold mining industry. And one name that will be a significant beneficiary of the recent gold/copper price strength is Barrick Gold Corporation ( GOLD ), the world's second-largest gold producer with over a dozen mines across the United States, West Africa, South America, Papua New Guinea, and Canada. In this update, we'll dig into the company's preliminary Q1 2024 results, recent developments, and why the stock looks like a solid buy-the-dip candidate:
Carlin Complex Operations (Nevada) - Barrick Gold
