Shares fell 2.7% following a cautious outlook highlighted by operational pressures such as rising oil prices impacting costs and slower recovery at key operations, dampening investor enthusiasm despite steady production.
- Q2 gold production reached 1.3 million ounces, supported by early delivery of ounces at Yanacocha and stronger output at Lihir.
- Cash flow from operations stood at $2.9 billion, with a quarterly free cash flow record of $2.2 billion.
- Shareholder returns included approximately $1.9 billion in dividends and buybacks year to date, with over 100 million shares repurchased since program inception.
- Recovery efforts at Cadia continue following a seismic event, with operations resuming but development still constrained by regulatory approvals, implying some operational risk.
- Rising oil prices contributed to higher costs, challenging margin expansion despite efforts to maintain discipline on cost control.
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