Barrick Gold Posts Preliminary Results for 2017
- By Alberto Abaterusso
On Tuesday, Barrick Gold Corporation (ABX) disclosed preliminary operational results for the entire year of 2017 and its fourth quarter to shareholders via a new release on its website.
Warning! GuruFocus has detected 2 Warning Signs with ABX. Click here to check it out.
The intrinsic value of ABX
Inl 2017, the Canadian miner produced 5.32 million ounces of gold and 413 million pounds of copper. The production of the yellow metal was within company's expectations of 5.30 million to 5.50 million ounces. Production of the red metal was a bit below guidance. The miner had expected a copper production of 420 million to 440 million pounds.
In the fourth quarter of 2017, the mining company produced 1.34 million ounces of gold and 99 million pounds of copper.
During the entire year of 2017, Barrick Gold sold 5.30 million ounces of gold and 405 million pounds of copper.
The following charts show the miner's production and sales volumes of gold and copper over the last five years These are preliminary figures for 2017.
Barrick Gold Corp, production of gold plus sales volumes over the last five years:
Barrick Gold Corp, production of copper plus sales volumes over the last five years:
Barrick Gold Corp will provide shareholders with financial and complete operational results for the entire year of 2017 and its last quarter on Feb. 14 after market close. That will be followed by a conference call and webcast the company has scheduled for Feb. 15 at 8:00 am ET.
Barrick Gold Corp is trading at $15.20 per share on the New York Stock Exchange with a market capitalization of $18.23 billion.
The following are some indicators of the stock as compared to the industry:
A price-book (P/B) ratio of 1.86 times versus an industry median of 2.01 times.
An EV-to-EBITDA ratio of 3.75 times versus an industry median of 10.14 times
An EBITDA margin of 72% versus an industry median of 22.8%.
According to Yahoo Finance's chart, Barrick Gold Corp lost 11.8% over the 52 weeks through Jan. 16 and outperformed the VanEck Vectors Gold Miners ETF (GDX) by 16.1%.
Source: Yahoo Finance
The gold stock is trading about 14.5% above the 52-week low price of $13.28 per share. The 52-weeks high price is $20.78 per share.
Barrick Gold Corp is currently trading below the 200 and 100-SMA lines, but it is above the 50-SMA line.
The Relative Strength Indicator (14) is 58.56.
Barrick Gold Corp has a recommendation rating of 2.7 out of 5 and an average target price of $18.25 per share.
(Disclosure:I have no positions in Barrick Gold Corporation or VanEck Vectors Gold Miners ETF.)
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 2 Warning Signs with ABX. Click here to check it out.
The intrinsic value of ABX
