Free Post Earnings Research Report: Barrick Gold’s Adjusted EPS Jumped 7%

Stock Monitor: Goldcorp Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 07, 2018 / If you want access to our free earnings report on Barrick Gold Corp. (NYSE: ABX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ABX. Barrick Gold reported its first quarter fiscal 2018 operating and financial results on April 23, 2018. The world's largest gold miner by output beat revenue estimates while earnings were in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Barrick Gold most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Barrick Gold reported first quarter revenues of $1.79 billion compared to revenue of $1.99 billion in Q1 2017. The Company's reported numbers topped analysts' estimates of $1.76 billion.

Barrick Gold reported net earnings of $158 million, or $0.14 per share, for Q1 2018 compared to net earnings of $679 million, or $0.58 per share, in Q1 2017. The Company's reported quarter earnings were lower due to a net impairment reversal of $522 million net of tax and non-controlling interest recorded in Q1 2017, in connection with Barrick Gold's of 25% of the Cerro Casale project.

For Q1 2018, Barrick Gold's adjusted net earnings totaled $170 million, or $0.15 per share, compared to $162 million, or $0.14 per share, in Q1 2017. The increase in adjusted net earnings was primarily due to higher realized gold prices and lower depreciation. The Company's earnings matched Wall Street's estimates of $0.15 per share.

Operating Details

During Q1 2018, Barrick Gold produced 1.05 million ounces of gold at a cost of sales of $878 per ounce, and all-in sustaining costs (AISC) of $804 per ounce. This compared to gold production of 1.31 million ounces in Q1 2017, at a cost of sales of $833 per ounce, and AISC of $772 per ounce. The Company's lower gold production compared to the prior year's same period was attributed to a sale of 50% of the Veladero mine on June 30, 2017, lower throughput at Acacia as a result of reduced operations at Bulyanhulu, lower grades processed through the oxide mill and roaster at Barrick Nevada, and lower throughput and grade at Hemlo and Lagunas Norte.

Barrick Gold produced 85 million pounds of copper in Q1 2018 at a cost of sales of $2.07 per pound, and AISC of $2.61 per pound. This compared to 95 million pounds at a cost of sales of $1.73 per pound and AISC of $2.19 per pound in Q1 2017. The Company's Copper production for the reported quarter was 11% on a y-o-y basis, primarily due to lower production at Lumwana as a result of mill shutdowns and lower grades and at Zaldívar due to fewer tonnes placed on the leach pad.

Cash Matters

Barrick Gold's operating cash flow was $507 million for Q1 2018, up 2% compared to $495 million in Q1 2017, driven by higher realized gold prices, lower cash taxes and interest paid, and lower general and administrative (G&A) expenses related to stock-based compensation compared to Q1 2017.

For Q1 2017, Barrick Gold's free cash flow was $181 million, up 12% compared to $161 million in Q1 2017, reflecting slightly higher operating cash flows, combined with slightly lower capital expenditures. In Q1 2018, the Company's capital expenditures were $326 million on a cash basis compared to $334 million in the prior-year's corresponding period.

Over the past three years, Barrick Gold has reduced its total debt by more than 50% from $13.1 billion at the end of 2014 to $6.4 billion by the end of FY17. In Q1 2018, both S&P Global Ratings and Moody's Investors Service upgraded the Company's credit rating, citing significant improvements in free cash flow generation and liquidity, supported by the Company's low-cost portfolio and favorable geopolitical risk profile.

At the end of Q1 2018, the Company had a consolidated cash balance of approximately $2.4 billion. Barrick Gold is projecting to reduce its total debt from $6.4 billion at present to around $5 billion by the end of 2018. Barrick Gold has less than $100 million in debt due before 2020, and more than three-quarters of its outstanding total debt of $6.4 billion does not mature until after 2032.

Stock Performance Snapshot

May 04, 2018 - At Friday's closing bell, Barrick Gold's stock slightly fell 0.07%, ending the trading session at $13.47.

Volume traded for the day: 6.26 million shares.

Stock performance in the last month – up 7.16%

After last Friday's close, Barrick Gold's market cap was at $15.72 billion.

Price to Earnings (P/E) ratio was at 27.38.

The stock has a dividend yield of 0.89%.

The stock is part of the Basic Materials sector, categorized under the Gold industry. This sector was up 0.7% at the end of the session.

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