April 26, 2016 / 11:42 AM / in a year

BRIEF-Barrick posts Q1 loss per share $0.07

April 26 (Reuters) - Barrick Gold Corp :

* Barrick reports first quarter 2016 results

* Q1 loss per share $0.07

* Q1 adjusted earnings per share $0.11

* Barrick Gold Corp says remain on track to achieve our $2 billion debt reduction target for year.

* Says have reduced total debt by $842 mln year-to-date

* All-In sustaining cost guidance for 2016 has been reduced to $760-$810 per ounce, down from original guidance of $775-$825 per ounce

* Says continue to expect gold production of 5.0-5.5 million ounces for year

* Since start of 2015, we have reduced total debt by $3.95 billion

* Debt reduction expected to reduce interest payments by approximately $180 million on an annualized basis

* Lowered the top end of our FY capital expenditure guidance, now expected to be $1.35-$1.55 billion

* In medium term, aim to reduce debt to below $5 billion

* Says “will continue to pursue debt reduction”

* Says production in q1 was 1.28 million ounces of gold at all-in sustaining costs of $706 per ounce

* Copper production in q1 was 111 million pounds at all-in sustaining costs of $1.97 per pound

* For 2016, continue to anticipate copper production of 370-410 million pounds

* Lowered 2016 copper all-in sustaining cost guidance to $1.95-$2.25 per pound

* Qtrly revenue $1.93 billion versus $2.25 billion

* Q1 revenue view $1.99 billion -- Thomson Reuters I/B/E/S

* $1.65/pound versus prior guidance $1.45-$1.75

* During quarter, established growth group of Rob Krcmarov, Catherine Raw and Kevin Thomson, to develop strategies to grow free cash flow over long-term Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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