Gold bars Higher gold prices produced record cash flow. The realized gold price in the quarter was $1,926, up from $1,725 in the second quarter and $1,476 in the third quarter last year.
Free cash flow of $1.3 billion was a record, Barrick said, up 151% from last year’s third quarter. Revenue of $3.54 billion beat the consensus of analysts tracked by FactSet by 5.3%.
Shares of Barrick rose 4.5% in morning trading on Thursday. They are up 47% this year compared to a 6.6% gain in the S&P 500 .
as investors sought a haven from the falling dollar and market volatility, and that has boosted shares of mining stocks. The VanEck Vectors Gold Miners ETF (GDX) rose 5.7% on Thursday and is up 38% this year.The metal jumped 2% on Thursday, edging above $1,935 to a nearly two-week high on the prospect of higher government spending should the Democrats […]
November 6, 2020 (updated November 6, 2020) Published by StockMan