Barrick Gold (ABX) Tops Q3 EPS by 3c
Barrick Gold (NYSE: ABX) reported Q3 EPS of $0.08, $0.03 better than the analyst estimate of $0.05. Revenue for the quarter came in at $1.84 billion versus the consensus estimate of $1.86 billion.
Full-year gold production and cost guidance remains unchanged at 4.5-5.0 million ounces, at a cost of sales3 of $810-$850 per ounce, all-in sustaining costs4 of $765-$815 per ounce, and cash costs4 of $540-$575 per ounce. We expect gold production to be approximately 1.25 million ounces in the fourth quarter.
We continue to expect full-year copper production in the range of 345-410 million pounds, at a cost of sales3 of $2.00-$2.30 per pound, all-in sustaining costs5 of $2.55-$2.85 per pound, and C1 cash costs5 of $1.80-$2.00 per pound.
Corporate administration cost guidance for 2018 has been reduced from roughly $275 million to approximately $235 million, reflecting savings associated with decentralization.
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