LONDON, March 18, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free earnings review on Barrick Gold Corp. (NYSE: ABX). On February 18, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Barrick%20Gold&d=18-Mar-2015&s=ABX to read our free earnings review on Barrick Gold Corporation (Barrick). The company reported revenues of $2.51 billion for Q4 FY14 and $10.24 billion for FY14. Barrick also reported adjusted net earnings of $174 million, or $0.15 per share, in Q4 FY14 and $793 million, or $0.68 per share, for full-year FY14. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Barrick%20Gold&d=18-Mar-2015&s=ABX
Earnings Overview
During Q4 FY14, Barrick's revenues declined by $432 million from $2.94 billion in Q4 FY13. The company's Q4 FY14 revenues outperformed Bloomberg analysts' forecast of $2.45 billion. Barrick produced 1.53 million ounces of gold in Q4 FY14 compared to 1.71 million ounces in Q4 FY13. In the reported quarter, the company sold 1.57 million ounces of gold compared to 1.83 million ounces in Q4 FY13. Furthermore, the all-in sustaining costs (AISC) were $925 per ounce in Q4 FY14 compared to $899 per ounce in Q4 FY13. Free research on ABX can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Barrick%20Gold&d=18-Mar-2015&s=ABX
For Q4 FY14, Barrick's net loss was $2.85 billion, or $2.45 loss per diluted share, compared to net loss of $2.83 billion, or $2.61 loss per diluted share, in Q4 FY13. However, analysts from Bloomberg had expected net earnings of $130 million, or $0.11 per diluted share, in Q4 FY14. The company's adjusted net earnings for Q4 FY14 declined by $232 million, or $0.22 per share, from $406 million, or $0.37 per share, in Q4 FY13. Q4 FY14 financial results included after-tax impairment charges of $2.8 billion, including asset impairment charges primarily related to the Lumwana mine ($930 million), the Cerro Casale project ($778 million), and goodwill impairments ($1.1 billion) related to Zaldivar and Lumwana mines.
For Q4 FY14, Barrick reported operating cash flow of $371 million compared with $1.02 billion in Q4 FY13. The company's cash flow from operations for full-year FY14 came in at $2.30 billion compared to $4.24 billion in FY13. As of December 31, 2014, Barrick had total cash and equivalents of $2.70 billion compared with $2.40 billion as of December 31, 2013. Sign up and read the free analyst's notes on ABX at:
http://get.Investor-Edge.com/pdf/?c=Barrick%20Gold&d=18-Mar-2015&s=ABX
During FY14, Barrick's revenues decreased by $2.29 billion from $12.53 billion in FY13. The company's FY14 revenues outperformed Bloomberg analysts' forecast of $10.09 billion. Barrick produced 6.25 million ounces of gold in FY14 compared to 7.17 million ounces in FY13. Meanwhile, the company sold 6.28 million ounces of gold in FY14 compared to 7.17 million ounces in FY13. Moreover, Barrick's AISC declined to $864 per ounce in FY14 from $915 per ounce in FY13.
In FY14, Barrick net loss narrowed down to $2.91 billion, or $2.50 loss per diluted share, from net loss of $10.37 billion, or $10.14 loss per diluted share, in FY13. Analysts from Bloomberg had expected net earnings of $546 million, or $0.15 per diluted share, in FY14. The company's full year net loss included after-tax impairment charges of $3.4 billion. Furthermore, Barrick's FY14 adjusted net earnings fell by $1.78 billion, or $1.83 per share from $2.57 billion, or $2.51 per share, in FY13.
In its FY15 outlook, Barrick provided AISC guidance range of $860-$895 per ounce. The company expects five cornerstone mines to contribute 60% of overall production at AISC of $725-$775 per ounce in 2015. Moreover for FY15, Barrick expects to produce 6.2 million to 6.6 million ounces of gold. The company also anticipates generating positive free cash flow at current gold prices in FY15. Visit Investor-Edge and access the latest research on ABX at:
http://get.Investor-Edge.com/pdf/?c=Barrick%20Gold&d=18-Mar-2015&s=ABX
Stock Performance
On the day following the earnings release, February 19, 2015, Barrick's stock rose 4.82% to end the session at $12.82. Since then, the stock has moved mostly on a negative note. On the last close, Tuesday, March 17, 2015, the company's shares finished 2.18% lower at $10.33, after vacillating between $10.29 and $10.60. A total of 14.38 million shares were traded which was below their three months average volume of 18.55 million shares. Over the previous three trading sessions and over the last one month, the company's shares have lost 3.10% and 14.13%, respectively. Further, the stock has fallen by 4.00% in the past three months. Shares in Barrick are trading below their 50-day and 200-day moving averages of $11.98 and $14.51, respectively. Furthermore, the stock traded at a PE ratio of 17.30 and has a Relative Strength Index (RSI) of 31.58.
Sneak Peek to Corporate Insider Trading
In the last one month, Barrick has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on ABX is available at:
http://get.Investor-Edge.com/pdf/?c=Barrick%20Gold&d=18-Mar-2015&s=ABX
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