Barrick Reports Robust Top-Line and Bottom-Line Growth

1 min read | August 11, 2020 01:23 AM EDT | By Team Kalkine Media

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Barrick Gold Corp. reported stellar second-quarter results, wherein the net profit soared USD 357 million, as compared to USD 194 million, a year ago driven by a ~30% y-o-y higher realized gold prices.
The company’s revenue climbed to USD 3.06 billion from USD 2.06 billion in Q2FY19, while realized gold price rose to USD 1,725/ ounce, increasing drastically from USD 1,317/ounce in the same quarter last year.
Despite hindrance in the overall production due to COVID 19, the group reaffirmed that it would achieve its FY20 production guidance range.

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