The second-quarter performance of Barrick Gold Corp. (TSX:ABX, NYSE:GOLD) will provide an object lesson in the elements it can control and those it can't.
So, it's likely that Tuesday's (Aug 8) results will show benefits from an increase in gold and copper production and reduced costs.
However, declining gold and copper prices, influenced by macroeconomic factors and monetary policy, will also have impacted the company's performance.
Wall Street reckons Barrick will post earnings per share of 17 cents for the three months ended June 30.
While that's down around 26% from the same period a year ago, it represents a 21% advance on the performance of the first quarter of 2023.
Driving increased gold production will be the Carlin mine, in Nevada, and improved grades at the Kibali in the DRC and Veladero in Argentina.
Copper sales will have been helped by an improved performance from the Lumwana mine in Zambia.
At the same time, costs are expected to have decreased, supporting the company's margins, analysts said.