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BRIEF-Barrick Gold Corp reports Q1 earnings per share $0.58

Published 2017-04-24, 05:28 p/m
© Reuters.  BRIEF-Barrick Gold Corp reports Q1 earnings per share $0.58
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April 24 (Reuters) - Barrick Gold Corp ABX.TO :

* Barrick reports first quarter 2017 results

* Q1 adjusted earnings per share $0.14

* Q1 earnings per share $0.58

* Q1 revenue $1.99 billion

* Barrick Gold Corp says total debt was reduced by $178 million in Q1

* Barrick Gold Corp - full-year gold production is now expected to be 5.3-5.6 million ounces

* Barrick Gold Corp - announced a strategic cooperation agreement with shandong gold, including sale of 50 percent of veladero for $960 million

* Barrick Gold -a comprehensive plan to strengthen and improve veladero mine's operating systems is now under review in argentina

* Barrick Gold Corp - co, shandong gold will jointly explore potential development of Pascua-Lama, and will evaluate additional investment opportunities

* Barrick Gold Corp - produced 1.31 million ounces of gold in Q1 compared to 1.28 million ounces last year

* Says produced 95 million pounds of copper in Q1, compared to 111 million pounds of copper produced last year

* Barrick Gold Corp - all-in sustaining costs for gold in Q1 were $772 per ounce, compared to $706 per ounce in Q1 of 2016

* Barrick Gold Corp - cost of sales and all-in sustaining cost guidance for gold for full year remains unchanged

* Barrick Gold Corp - gold production in Q1 was impacted by timing of autoclave maintenance at Pueblo Viejo mine in Dominican Republic

* Q1 all-in sustaining costs for copper were $2.19 per pound versus $1.97 per pound last year

* Barrick Gold - significant portion of 2017 gold production outlook reduction attributable to anticipated sale of 50 percent of Veladero

* Barrick Gold Corp - copper production guidance for 2017 is unchanged at 400-450 million pounds

* Q1 earnings per share view $0.20, revenue view $2.14 billion -- Thomson Reuters I/B/E/S

* Barrick - on 100 percent basis, sees Fy production at veladero of 630,000-730,000 ounces of gold, at cost of sales of $740-$790/ounce, aisc of $890-$990/ounce

* Barrick Gold Corp sees 2017 all-in sustaining costs of $2.10-$2.40 per pound of copper

* Barrick Gold -in quarter, heavy rains, road closures, power outages associated with El Niño Weather pattern also impacted production at Lagunas Norte mine in Peru

* Barrick Gold - Co, Shandong Gold Group to evaluate additional investment opportunities on el indio gold belt on border of Argentina and Chile

* Barrick Gold -intend to reduce total debt from $7.9 billion at start of 2017, to $5 billion by end of 2018, half of which co is targeting this year

* Barrick Gold corp - operations at Pueblo Viejo mine and Lagunas Norte mine remain on track to achieve their original full-year production guidance Source text for Eikon: ID:nCCN3Z97VW Further company coverage: ABX.TO

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