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Barrick posts 7% YOY drop in Q3 gold output, maintains FY'18 guidance

Barrick Gold Corp.'s gold output in the third quarter fell to 1.15 million ounces from 1.24 million ounces last year, according to preliminary production and sales figures released Oct. 10.

The mining giant also reported a drop in copper production to 106 million pounds from 115 million pounds in 2017.

Barrick said it is keeping its full-year gold production guidance of between 4.5 million and 5 million ounces, as it expects to produce approximately 1.25 million ounces of gold in the fourth quarter.

The company will also maintain its copper production guidance of between 345 million and 410 million pounds.

Gold sales fell to 1.20 million ounces from 1.23 million ounces in the year-ago period, while copper sales increased year over year to 114 million pounds from 107 million pounds.

The company will release its full quarterly results on Oct. 24.