- Barrick Gold (TSX:ABX) reveals its preliminary Q3 production dipped resulting from a fall in output at its mines in Nevada
- Total gold output dipped to 385,000 ounces during the quarter compared to 401,000 ounces in the previous quarter
- The company anticipates a stronger Q4 that will still deliver 2024 production within the range of its full-year guidance
- Shares of Barrick Gold are down 1.77 per cent to C$27.40 as of 12:45 p.m. ET
Barrick Gold (TSX:ABX) reveals its preliminary Q3 production dipped, resulting from a fall in output at its mines in Nevada.
In a news release, the company stated that total gold output dipped to 385,000 ounces during the quarter compared with 401,000 ounces in the previous quarter.
Q3 total preliminary gold output fell less than 1 per cent from the previous quarter to 943,000 ounces, which is just below the 975,000-ounce threshold anticipated by analyst consensus estimates put together by LSEG.
At Carlin, the Gold Quarry roaster expansion, which was completed during a Q3 shutdown, is expected to recover in Q4.
That being said, the gold miner stated it anticipates a stronger Q4 that will still deliver 2024 production within the range of its full-year guidance.
In terms of the company’s preliminary Q3 copper production, Barrick revealed it was higher than Q2 driven by higher grades and recoveries at Lumwana after improved ore access driven. Additional improvements are expected in Q4.
Barrick Gold will post its full quarterly results before the market opens on Nov. 7 and will provide additional discussion and analysis regarding its Q3 production.
With its headquarters out of Toronto, Barrick Gold is the world’s second-largest gold producer with ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania and the United States.
Shares of Barrick Gold (TSX:ABX) are down 1.77 per cent to C$27.40 as of 12:45 pm ET.
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