Barrick Gold (GOLD) Tops Q2 EPS by 5c, Revenues Beat

Barrick Gold (NASDAQ: GOLD) reported Q2 EPS of $0.23, $0.05 better than the analyst estimate of $0.18. Revenue for the quarter came in at $3.06 billion versus the consensus estimate of $2.89 billion.

“Our flattened and decentralized management structure was a major factor in contending with Covid-19 while at the same time continuing to meet short-term targets and making significant progress towards our strategic objectives. Our major projects, including the expansion of Pueblo Viejo, the Goldrush development and the Turquoise Ridge shaft, remain on track. The only exception was Veladero, where the heap leach and cross-border Chilean power line projects were impacted by the Argentine government’s pandemic quarantine restrictions,” Bristow said.

“We also maintained our strong environmental, social and governance focus during this difficult period. The Lost Time Injury Frequency Rate decreased by 15.6% quarter on quarter, and we further reduced our carbon emissions and continued to improve our water recycling and reuse performance.”

For earnings history and earnings-related data on Barrick Gold (GOLD) click here.

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