Barrick Gold Corporation ((GOLD – Free report) registered the net income (on a reported basis) of $ 996 million or 57 cents per share for the fourth quarter 2024. The figure improved a profit of $ 479 million or 27 cents per share in the quarter of the quarter of the quarter A year ago.
In addition to one -off items, the adapted profit per share were 46 cents. The figure beat the Zacks consensus estimate of 41 cents.
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Barrick registered the total turnover of $ 3,645 million, an increase of approximately 19.2% year after year.
Gold’s operational highlights
The total gold production was 1,080,000 ounces in the reported quarter, an increase of approximately 2.5% year after year. The average gold price realized was $ 2,657 per ounce in the quarter, an increase of approximately 33.8%.
The turnover costs rose year after year by approximately 5.1% to $ 1,428 per ounce. All-in-second costs (AISC) rose around 6.4% to $ 1,451 per ounce in the quarter.
Gold’s financial position
At the end of the quarter, Barrick had cash and cash equivalents of $ 4,074 million, a decrease of 1.8% year after year. The total debt of the company was $ 4,729 million at the end of the quarter, flat year after year.
The operational cash flow was $ 1,392 million in the quarter reported, while the free cash flow was $ 501 million.
Gold’s FY24 results
For 2024, Barrick reported the total turnover of $ 12,922 million, an increase of 13% compared to the level of the previous year. The profit increased by 69% year to year to $ 1.22 per share, while the adapted net income has risen by 50%, to $ 1.26. The operational cash flows rose year after year by 20% to almost $ 4.5 billion. The free cash flow rose by 104% and was $ 1,317 million.
Gold’s guidance
Before 2025, Barrick anticipates that is due to the gold production in the range of 3.15-3.5 million ounces.
AISC is expected to be $ 1,460- $ 1,560 per ounce for 2025. The cash per ounce is expected to be $ 1,050- $ 1,130. The company also expects to see a turnover costs of $ 1,460- $ 1,560 per ounce.
Gold expects a copper production of 200,000-230,000 tons of $ 2.80- $ 3.10 per pound, cash per ounce of $ 1.80- $ 2.10 and the turnover costs of $ 2.50- $ 2 , 80 per pound.
Total capital expenditures are projected in the range of $ 3,100- $ 3,600 million for 2025.
Gold’s Board authorized a new program for the repurchase of a maximum of $ 1 billion of its outstanding ordinary shares in the next 12 months. In connection with the new stock buying program, Barrick terminated the stock buying program announced on 14 February 2024. It bought $ 498 million in ordinary shares in the context of its 2024 program.
Gold’s price performance
The shares of Barrick won 29.3% in the past year against an increase in industry of 57.1%.
Image source: Zacks Investment Research
Gold’s Zacks Rank & Key Picks
Barrick Gold currently has a Zacks Rank #3 (Hold).
Better -ranked shares that are worth looking in the basic material space are included ICL Group Ltd. ((ICL – Free report), Nutrien Ltd. ((NTR – Free report) and Venity Corporation ((NGVT – Free report).
ICL is planned to report the results of the fourth quarter on 26 February. ICL defeated the Zacks consensus estimate in each of the last four quarters, with the average win of 18.1%. ICL is wearing a zacks rank #2 (buy). You can see it The complete list of the shares of today Zacks #1 Rank (Strong Buy).
Nutrien is planned to state the results of the fourth quarter on 19 February 19. The estimate of the Zacks consensus for the fourth quarter of NTR is linked to 33 cents. NTR, a Zacks Rank #2 shares, has won about 2% in the past year.
Vegity is planned to report the results of the fourth quarter on February 18, after the market. The consensus estimate for the fourth quarter of fellow is linked to 12 cents. NGVT, with a Zacks Rank #1, defeated the consensus estimate in three of the last four quarters while once missed, with the average winning surprise 95.4%.