Barrick Gold's Fourmile Project Displays World-Class Potential

Zacks11-25 20:00

Barrick Gold Corporation GOLD has updated its mineral resource estimate for its fully-owned Fourmile project in Nevada, marking a 192% increase in indicated resources (1.4 million ounces grading 11.76...

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The company also expects cash costs per ounce of $940-$1,020.GOLD expects a copper production of 180-210 million pounds at AISC of $3.10-$3.40 per pound, cash costs per ounce of $2-$2.30 and cost of sales of $2.65-$2.95 per pound.Capital expenditures are projected to be in the band of $2,500-$2,900 million.Barrick Gold Corporation price-consensus-chart | Barrick Gold Corporation Quote. 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The company believes in building real value through discovery and development rather than relying on rising gold prices to justify high-priced mergers and acquisitions.Barrick’s shares have gained 10% in the past year compared with a 30.7% rise of the industry\nImage Source: Zacks Investment Research\nFor 2024, Barrick anticipates attributable gold production to be at the bottom end of its earlier announced guidance of 3.9-4.3 million ounces.All-in-sustaining costs (AISC) are projected to be $1,320-$1,420 per ounce. The company also expects cash costs per ounce of $940-$1,020.GOLD expects a copper production of 180-210 million pounds at AISC of $3.10-$3.40 per pound, cash costs per ounce of $2-$2.30 and cost of sales of $2.65-$2.95 per pound.Capital expenditures are projected to be in the band of $2,500-$2,900 million.\n\nBarrick Gold Corporation Price and Consensus\n  \nBarrick Gold Corporation price-consensus-chart | Barrick Gold Corporation Quote\n\nGOLD’s Rank & Key Picks\nGOLD currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, DuPont de Nemours, Inc. DD and CF Industries Inc. CF. Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The company's shares have soared 160% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for DD’s current-year earnings is pegged at $3.88 per share, indicating a year-over-year rise of 11.5%. DD, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.9%. The company's shares have rallied roughly 16.9% in the past year.The Zacks Consensus Estimate for CF’s current-year earnings is pegged at $6.32 per share. CF, a Zacks Rank #1 stock, beat the consensus estimate in two of the last four quarters while missed twice, with the average earnings surprise being 10.3%. CF has rallied around 18.3% in the past year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nDuPont de Nemours, Inc. (DD) : Free Stock Analysis Report\nCF Industries Holdings, Inc. (CF) : Free Stock Analysis Report\nCarpenter Technology Corporation (CRS) : Free Stock Analysis Report\nBarrick Gold Corporation (GOLD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486084366"}