Barrick Gold Sets Target for 30% Production Growth by 2030
Barrick Gold Corporation GOLD is progressing with its growth projects, aiming for a 30% increase in gold equivalent ounces by the end of the decade. Barrick met its targets for 2024, achieving its gold and copper production guidance amid a challenging backdrop. The company also enhanced its financial performance, posting a 69% rise in net earnings—the highest in 10 years—along with 20% growth in operating cash flow and a doubling of free cash flow from 2023 despite facing higher costs.The company has been strategically enhancing its portfolio to drive sustainable production and profitable growth. It has ramped up operations at Pueblo Viejo, kicked off pre-feasibility studies at Fourmile and successfully restarted the Porgera mine. Furthermore, the company completed feasibility studies for Reko Diq, one of the world’s largest untapped copper-gold deposits, as well as the Lumwana Expansion project, which is poised to become one of the largest copper mines globally. These initiatives are central to the company’s plan to organically increase production, with a particular focus on boosting copper output.The company believes its equity is undervalued, leading it to repurchase $498 million in shares in 2024, with plans to continue share buybacks. It boasts an industry-leading balance sheet, significant liquidity and a global portfolio of Tier One assets. These strengths, combined with a fully funded pipeline of organic growth projects, position the company for long-term growth and increased per-share returns.Barrick’s shares have lost 0.2% in the past year against a 25.4% rise of the industry.Image Source: Zacks Investment ResearchFor 2025, Barrick anticipates attributable gold production to be in the range of 3.15-3.5 million ounces. All-in sustaining costs (AISC) are projected to be $1,460-$1,560 per ounce for 2025. Cash costs per ounce are forecast to be $1,050-$1,130. The company also expects to see a cost of sales of $1,460-$1,560 per ounce.GOLD expects a copper production of 200,000-230,000 tons at AISC of $2.80-$3.10 per pound, cash costs per ounce of $1.80-$2.10 and cost of sales of $2.50-$2.80 per pound.Barrick Gold Corporation Price and Consensus Barrick Gold Corporation price-consensus-chart | Barrick Gold Corporation QuoteGOLD’s Rank & Key PicksGOLD currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Hawkins Inc. HWKN and Axalta Coating Systems Ltd. AXTACarpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 88.1% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Hawkins' current-year earnings is pegged at $4. HWKN, carrying a Zacks Rank #2, surpassed the Zacks Consensus Estimate in one of the trailing four quarters, with the average earnings surprise being 6.1%. The company's shares have rallied 35.3% in the past year.Axalta Coating Systems, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it delivered an earnings surprise of roughly 16.3%, on average. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis Report Hawkins, Inc. (HWKN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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