Barrick Gold Corporation – strong financial results and dividend increase

The Canadian mining company Barrick Gold Corporation is one of the largest gold producers in the world and holds shares in a total of 14 gold mines around the globe. In addition, Barrick Gold is also engaged in the exploration and production and sale of copper and other metals.

After Barrick Gold had already disclosed its production figures from the fourth quarter of 2021 in January, the company now also published its financial figures. After the strong figures, the share price also went steeply upwards again and the bad stock market year 2021 for Barrick Gold now seems to be finally forgotten.

Among the top ten gold producers for years

For many years now, Barrick Gold has consistently been among the top ten largest gold producers in the world. Last year, the Canadian mining giant ranked second after Newmont Mining with a market capitalization of €30.6 billion, well ahead of such high-profile competitors as Newcrest Mining, Agnico-Eagle Mines and Sibanye Stillwater.

The company’s portfolio alone includes 14 gold mines that are 100 percent or at least proportionately owned by Barrick Gold. These include such well-known mines as the Carlin, Cortez and Turquoise Ridge mines, as well as the Nevada Gold Mines, the Pueblo Viejo, Loulo-Gounkoto, Kibali and Veladero Porgera mines.

Barrick Gold operates around the globe. For example, gold mines in the Americas are located in Argentina, Canada, the United States and the Dominican Republic. In addition, Barrick Gold operates gold mines in the African countries of Ivory Coast, Democratic Republic of Congo, Mali and Tanzania.

In addition to gold, Barrick Gold also produces copper on a large scale. The company’s copper mines are located in Chile, Zambia and Saudi Arabia.

Strong figures and dividend increase

Barrick Gold had already announced its production figures at the beginning of the year and was able to convince investors and analysts. This week, the Group also announced its financial figures for the fourth quarter of 2021.

With adjusted earnings of $0.35 per share, Barrick Gold beat analysts’ expectations by about 2 cents. The dividend is to be raised to 10 cents per share, to the delight of investors. In addition, Barrick Gold announced the payment of a performance dividend.

Outlook for 2022

The mining giant also announced an outlook for the current year in terms of production. Thus, gold production in 2022 is expected to be between 4.2 and 4.6 million ounces. Copper production is targeted at 420 to 470 million pounds this year.




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