Barrick Gold Corporation GOLD recently stated that it remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Furthermore, the Malian government has executed the interim attachment order on the gold by transferring the current gold stock from the location to a custodial bank, further blocking the shipment and sale of the gold. 

As a result, Barrick has initiated a temporary suspension of operations as it works to resolve the situation. 

Barrick remains committed to constructive engagement with the Malian government and other stakeholders in order to achieve a mutually acceptable solution that ensures the long-term viability of the Loulo-Gounkoto mining complex and its critical contribution to Mali's economy and society.

Barrick’s shares have gained 1.8% in the past year against a 29.1% rise of the industry.

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For 2024, Barrick anticipates attributable gold production to be at the bottom end of its earlier announced guidance of 3.9-4.3 million ounces.

GOLD’s Zacks Rank & Key Picks

GOLD currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Sylvamo Corporation SLVM and ICL Group Ltd ICL. 

Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The company's shares have soared 175.9% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.

Sylvamo, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.7%, on average. SLVM’s shares have rallied 73.5% over the past year. 

The Zacks Consensus Estimate for ICL Group’s current-year earnings has increased 8.8% in the past 60 days. ICL beat the consensus estimate in each of the last four quarters with the average surprise being 18.1%. 

 

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Carpenter Technology Corporation (CRS) : Free Stock Analysis Report

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