Barrick Gold reports Q4 adjusted EPS 6c, consensus 6c
Reports Q4 revenue $1.9B, consensus $1.96B. "In 2018, our operations produced 4.53 million ounces of gold, at a cost of sales of $892 per ounce, and all-in sustaining costs of $806 per ounce -- among the lowest of the senior gold peers," the company said. As anticipated, gold production improved over the second half of 2018, driven by stronger performance at Barrick Nevada and Pueblo Viejo, with gold production of 1.26 million ounces in the fourth quarter, compared to 1.15 million ounces in the third quarter. Higher costs compared to 2017 primarily reflect the impact of lower grades and recoveries, higher energy costs, and higher mine site sustaining capital expenditures on a per ounce basis. As of December 31, 2018, Barrick's proven and probable gold reserves were 62.3 million ounces, compared to 64.4 million ounces at the end of 2017.