meszaros
Nov 9, 4:37 PM
$B Bullish despite the earnings miss. Barrick's Q3 results demonstrate strong underlying fundamentals:
$3.5B in adjusted EBITDA,
$1.2B in free cash flow, and
$900M in net cash. Adjusted EPS increased 41% YoY, while gold production reached 816,000 ounces, with further growth expected in Q4. The
$800M quarterly share buyback and
$3.2B returned to shareholders year-to-date highlight impressive cash generation. Most importantly, the planned North American gold assets IPO could unlock substantial hidden shareholder value. Rising production, disciplined capital allocation, and a strong balance sheet make this a fundamentally bullish report, despite ongoing cost pressures.
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