- Barrick Gold (NYSE:ABX) -0.9% AH after Q2 earnings and revenues missed analyst expectations, reflecting a weaker gold price and lower gold and copper sales volumes.
- ABX reports Q2 production of 1.485M oz. at all-in sustaining costs of $865/oz., and says the cost improvement "in a lower production quarter clearly demonstrate our ongoing and relentless focus on company-wide cost management."
- Q2 results included a $514M impairment charge related to ABX's Jabal Sayid mine in Saudi Arabia in which it sold a 50% interest; year-ago results included $8.7B in charges, mostly related to its Pascua-Lama project in South America.
- Cuts 2014 all-in sustaining cost guidance to $900-$940/oz. vs. a previous forecast of $920-$980; also cuts operating cost guidance to $580-$630/oz.
- Also cuts its 2014 capex guidance range to $2.2B-$2.5B from $2.4B-$2.7B.
- Maintains full-year production forecast at 6M-6.5M oz.
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From other sites
at Nasdaq.com (Feb 24, 2015)
at Benzinga.com (Feb 23, 2015)
at Benzinga.com (Feb 19, 2015)
at CNBC.com (Jan 13, 2015)
at Nasdaq.com (Jan 6, 2015)
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