Barrick (ABX) Earnings, Revenues Miss Estimates In Q1
Zacks Investment Research | Apr 26, 2017 03:22AM ET
Barrick Gold (NYSE:ABX) reported net earnings (attributable to equity holders) of $679 million or 58 cents per share for first-quarter 2017, as against the year-ago loss of $83 million or 7 cents.
Barring one-time items, adjusted net earnings were 14 cents per share for the quarter, missing the Zacks Consensus Estimate of 24 cents. Higher adjusted net earnings reflect the impact of higher gold and copper prices, partly offset by higher depreciation, higher exploration and evaluation expenses, and slightly higher direct mining costs.
Revenues rose roughly 3.3% year over year to $1,993 million in the reported quarter, but missed the Zacks Consensus Estimate of $2,177 million.
Cost of sales rose roughly 1.3% year over year in the quarter.
Barrick Gold Corporation Price, Consensus and EPS Surprise
Mining-Gold industry’s 2.1% gain.
Zacks Rank & Key Picks
Barrick currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the basic materials space include Akzo Nobel NV (OTC:AKZOY) , Nucor Corp. (NYSE:NUE) and Kronos Worldwide Inc (NYSE:KRO) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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