Barrick Gold: Significant Margin Recovery On Deck (TSX:ABX:CA)

It’s been a much better Q2 than Q1 for the Gold Miners Index (GDX) with the price of gold successfully breaking out above the $2,070/oz level and providing a substantial lift to margins for the gold mining industry. And one name that will be a significant beneficiary of the recent gold/copper price strength is Barrick Gold Corporation (NYSE:GOLD), the world’s second-largest gold producer with over a dozen mines across the United States, West Africa, South America, Papua New Guinea, and Canada. In this update, we’ll dig into the company’s preliminary Q1 2024 results, recent developments, and why the stock looks like a solid buy-the-dip candidate:

All figures are in United States Dollars and all production figures are on an attributable basis unless otherwise noted.

Q1 Production, Sales & Margin Outlook

Barrick Gold (“Barrick”) released its Q1 2024 production results…