Published on 19 Jan 2023 on Zacks via Yahoo Finance

Barrick (GOLD) Delivers Strong Q4 Production, Misses FY22 View

Barrick Gold Corporation GOLD reported preliminary fourth-quarter and full-year 2022 production and sales results. The company posted preliminary full-year 2022 production of 4.14 million ounces of gold and 440 million pounds of copper. It announced preliminary fourth-quarter production of 1.12 million ounces of gold and 96 million pounds of copper. Preliminary sales for the fourth quarter were 1.11 million ounces of gold and 99 million pounds of copper.

Barrick’s preliminary gold production for 2022 was roughly 1% lower than 4.2 million ounces, as guided previously by the company. Its copper production was in line with the guidance of 420-470 million pounds provided by the company.

Backed by a solid fourth quarter due to strong performance at the Cortez, Carlin and Tongon, production of gold was 13% higher than 988,000 ounces reported in the third quarter. However, weak production was seen at Pueblo Viejo in the quarter. The production of gold in the fourth quarter was down around 6.7% from the prior-year quarter’s production of 1.2 million ounces of gold.