The
Barrick suggested the payouts in February. The company has been buoyed by stronger gold and copper prices and is flush with cash after realizing
Last month, Barrick reported preliminary first quarter production of 1.10 million ounces of gold and 93 million pounds of copper, noting average market prices for gold of
In an update in April, Barrick said since its merger with
Barrick shares trended lower on Tuesday despite the payout, closing
“As owners of five of the top 10 gold-producing operations in the world and with strong cash flows, no net debt and a 10-year plan based primarily on declared reserves and resources, we believe that our sustainable profitability is not yet recognized in the share price,” said executive chairman
“What is clear is that the industry is not replacing what it is mining. The real winners will be the companies who grow their businesses for the long-term, rather than focusing on short-term gains, extending 10-year plans to 15 and even 20 years, which is what Barrick is doing.”
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