Barrick Gold Corporation ABXreported preliminary production results for first-quarter 2018.
Preliminary gold production and sales for the first quarter were roughly 1.05 million ounces and 1.07 million ounces, respectively. Average market price for gold during the quarter was $1,329 per ounce. Preliminary copper production and sales both totaled 85 million pounds, and average market price for copper was $3.
Notably, first-quarter gold and copper production figures highlight a sequential decline from last quarter’s reported numbers of roughly 1.4 million ounces and 99 million pounds, respectively.
Moreover, the company stated that realized copper price in the first quarter is projected to be roughly 5% lower than the average first quarter market price for the metal due to provisional pricing adjustments. This reflects down trend in copper prices over the period.
Shares of Barrick have lost 13.5% in the last three months, underperforming the industry’s roughly 10% decline.