09:43:11 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,068,071
Close 2020-08-10 C$ 38.32
Market Cap C$ 68,135,568,481
Recent Sedar Documents

Globe says Barrick relatively clean from COVID-19

2020-08-11 07:44 ET - In the News

The Globe and Mail reports in its Tuesday edition that Barrick is benefiting from surging gold prices and managing to keep most of its mines running despite the worsening COVID-19 pandemic. The Globe's Naill McGee writes that on Monday, the company posted adjusted earnings of 23 cents a share for the second quarter, four cents better than analysts surveyed by Refinitiv expected, and reported more than half a billion in free cash flow. Barrick's realized gold price in the quarter was $1,725 (U.S.) an ounce, 31 per cent higher year-over-year. Last week, the price of gold raced past $2,000 an ounce, breaching its previous historic high of $1,920 in 2011. "It's really difficult to mess up in a market like this," chief executive officer Mark Bristow told The Globe. Unlike some other large gold miners, including Agnico Eagle, which was hit hard by temporary mine closings because of COVID-19 restrictions, Barrick's operations have not been affected nearly as much. The biggest COVID-19 hit for Barrick has been at its Veladero mine in Argentina, whose production was affected by the country's nationwide lockdown in the quarter. Two of Barrick's contractors in the Democratic Republic of the Congo have died from the disease.

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