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Barrick Gold Corp. (GOLD) announced its Q1 2022 financial results before the opening bell over in the US today, surpassing analyst estimates for the quarter.
One of the world’s largest gold producers reported revenue of $2.926 billion in Q1 vs. $2.88 billion expected.
The company reported earnings per share of $0.27 per share vs. $0.24 per share estimate.
”Q1 was a softer quarter, particularly when compared to Q4 of 2021, which included a record-breaking performance from Nevada Gold Mines. With a stronger performance expected in the second half of the year, Barrick remains on track to meet its 2022 production guidance,” said Mark Bristow, President and CEO of Barrick Gold.
”Barrick controls what are unquestionably the mining industry’s best gold assets as well as some substantial copper mines. Reko Diq is one of the largest undeveloped copper-gold porphyry deposits in the world, and if the conditions to closing are satisfied, it will be a very significant addition to this portfolio, even before it goes into production, by boosting reserves and resources as the updated feasibility study unfolds,” Bristow added.
Barrick also announced an enhanced dividend of $0.20 per share after the strong results for the first three months of 2022.
”Our strong operating performance and robust net cash balance has allowed us to provide an enhanced dividend to our shareholders,” Graham Shuttleworth, vice-president and CFO said in a press release.
”We believe this shows the benefit of the Performance Dividend Policy that we announced in February, including the guidance it provides to our shareholders on future dividend streams,” he added.
Barrick Gold Corp. chart
Shares of Barrick Gold were up by over 3% on Wednesday at $23.14 pe share.
Here is how the stock has performed in the past year:
Barrick Gold price targets
Barrick Gold Corp. is the 426th largest company in the world with a market cap of $41.03 billion.
You can trade Barrick Gold Corp. (GOLD) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: Barrick Gold Corp., TradingView, CompaniesMarketCap
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