After the two big gold producers Newmont Goldcorp and Kinross presented yesterday, the world’s second largest gold producer Barrick Gold is joining today. A few minutes ago, the group announced its figures for the first quarter of 2020. The group posted earnings of $ 0.16 per share for the first three months. With this, Barrick Gold has met the analysts’ estimates.
Barrick Gold not only met the analysts’ estimates, but also his own forecast with the numbers. Net debt also fell another 17 percent in the first quarter. As of March 31, it was $ 1.85 billion. However, these are of a long-term nature and there are no major repayments pending until 2033. However, Barrick Gold also felt the effects of Corona – if not as strongly as many other companies. Gold production was 1.25 million ounces, 8.6 percent below the previous year, and costs rose 15.6 percent to $ 954 an ounce. Copper production rose 8.5 percent to £ 115 million. Barrick had an average selling price of $ 1,589 an ounce on gold, compared to $ 1,307 a year earlier. Barrick Gold made it clear once again that the company’s own projects would produce around 5 million ounces annually over a period of ten years.