Barrick Gold Issues Update on Loulo-Gounkoto Operations in Mali
Barrick Gold Corporation GOLD recently stated that it remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Furthermore, the Malian government has executed the interim attachment order on the gold by transferring the current gold stock from the location to a custodial bank, further blocking the shipment and sale of the gold. As a result, Barrick has initiated a temporary suspension of operations as it works to resolve the situation. Barrick remains committed to constructive engagement with the Malian government and other stakeholders in order to achieve a mutually acceptable solution that ensures the long-term viability of the Loulo-Gounkoto mining complex and its critical contribution to Mali's economy and society.Barrick’s shares have gained 1.8% in the past year against a 29.1% rise of the industry.Image Source: Zacks Investment ResearchFor 2024, Barrick anticipates attributable gold production to be at the bottom end of its earlier announced guidance of 3.9-4.3 million ounces.GOLD’s Zacks Rank & Key PicksGOLD currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Sylvamo Corporation SLVM and ICL Group Ltd ICL. Carpenter Technology currently sports 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 175.9% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.Sylvamo, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.7%, on average. SLVM’s shares have rallied 73.5% over the past year. The Zacks Consensus Estimate for ICL Group’s current-year earnings has increased 8.8% in the past 60 days. ICL beat the consensus estimate in each of the last four quarters with the average surprise being 18.1%. Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want 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 Carpenter Technology Corporation (CRS): Free Stock Analysis Report Barrick Gold Corporation (GOLD): Free Stock Analysis Report ICL Group Ltd. (ICL): Free Stock Analysis Report Sylvamo Corporation (SLVM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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