GOLD Latest Report

Financial Performance

Barrick Gold's total operating revenue was US$3.645 billion as of December 31, 2024, up 19.22% from US$3.059 billion in 2023, indicating strong sales and profitability. This growth may be attributed to the rise in gold prices and improved market demand.

Key Financial Data

1. Total operating revenue in 2024 was US$3.645 billion, up 19.22% YoY.

2. Sales cost was US$1.995 billion, down from US$2.139 billion in 2023, leading to a significant improvement in gross profit.

3. Gold sales in Q2 2024 were 956,000 ounces, up 5.1% MoM but down 4.5% YoY.

4. Barrick Gold expects gold production in 2024 to be between 3.9 and 4.3 million ounces.

5. The target price for spot gold in 2024 is US$1,947/ounce, which may reach a record of US$2,150/ounce by the end of the year.

Industry Comparison

1. Overall industry analysis: The gold industry performed well in 2024, with rising gold prices and hedging demand driving overall revenue growth, and the attractiveness of gold as a safe asset increasing.

2. Peer evaluation analysis: Barrick Gold's operating revenue growth rate of 19.22% is higher than the industry average, demonstrating its competitive edge in the market.

Summary

Barrick Gold's revenue growth in 2024 reflects its success in sales and cost control. Although sales volumes decreased YoY, MoM growth and rising gold prices provide positive market prospects.

Opportunities

1. With the expected rise in gold prices, Barrick Gold's revenue and profits are expected to grow further.

2. New mining projects (such as the Reko Diq project) may support future production and revenue.

3. Increased global hedging demand will continue to drive the market appeal of gold.

Risks

1. The YoY decrease in gold sales volumes may affect future revenue growth.

2. Global economic uncertainty may affect gold price volatility, which in turn affects the company's profitability.

3. New mining projects may face technological and policy risks, affecting the pace of development and cost control.