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BRIEF-Barrick reports third quarter 2016 results

Published 2016-10-26, 05:13 p/m
© Reuters.  BRIEF-Barrick reports third quarter 2016 results
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Oct 26 (Reuters) - Barrick Gold Corp ABX.TO

* Barrick reports third quarter 2016 results

* Q3 adjusted earnings per share $0.24

* Q3 earnings per share $0.15

* Q3 revenue $2.3 billion versus $2.32 billion

* Barrick Gold Corp - Increased our gold production guidance for 2016 to 5.25-5.55 million ounces, up from our original range of 5.00-5.50 million ounces

* Barrick Gold Corp - Total debt has been reduced by $1.4 billion year-to-date, and co remains on track to achieve $2 billion debt reduction target for year.

* Qtrly revenue $2,297 million $ 2,315 million

* Barrick Gold Corp - Qtrly gold production 1.4 million ounces versus 1.7 million ounces

* Barrick Gold Corp - Capital expenditures for 2016 are now expected to be $1.20-$1.30 billion, down from $1.25-$1.40 billion at end of Q2

* Barrick Gold Corp - Qtrly gold all-in sustaining costs $704 per ounce versus $771 per ounce

* Reduced FY all-in sustaining cost guidance for 2016 to $740-$775 per ounce

* Barrick Gold - Q3 copper production 100 million pounds versus 140 million pounds last year

* Barrick Gold Corp - Now expect 2016 production from Veladero to be in range of 530,000-580,000 ounces of gold, down from 580,000-640,000 ounces

* Barrick gold corp - sees fy copper production 380-430 million pounds

* Barrick Gold Corp - Copper all-in sustaining cost guidance for 2016 has been narrowed to $2.00-$2.20 per pound.

* Barrick Gold Corp - Sees FY gold all-in sustaining costs $740-$775 per ounce

* Barrick Gold Corp - Q3 copper C1 cash costs per pound $1.50 versus $1.53 per pound last year

* Barrick Gold Corp - Now has less than $200 million in debt due before 2019

* Barrick gold corp - sees 2016 copper c1 cash cost $1.40- $1.60 per pound

* Barrick Gold Corp - Expect to achieve 2016 debt reduction target using existing cash balances and Q4 operating cash flow

* Qtrly revenue $2,297 million versus $2,315 million (adds dropped word 'versus') Source text for Eikon: ID:nCCN4yDhl0 Further company coverage: ABX.TO

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