ABX.TO - Barrick Gold Corporation

Toronto - Toronto Delayed Price. Currency in CAD
22.63
-0.01 (-0.04%)
As of 4:00PM EST. Market open.
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Previous Close22.64
Open22.65
Bid22.62 x 0
Ask22.64 x 0
Day's Range22.39 - 22.89
52 Week Range15.37 - 26.69
Volume2,706,823
Avg. Volume4,080,576
Market Cap40.231B
Beta (3Y Monthly)0.13
PE Ratio (TTM)26.25
EPS (TTM)0.86
Earnings DateNov 6, 2019
Forward Dividend & Yield0.26 (1.16%)
Ex-Dividend Date2019-11-28
1y Target Est13.81
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  • Reuters

    Barrick seeks to eclipse $1.5 billion asset sales target, eyes more copper

    Canadian miner Barrick Gold Corp is keen to top its $1.5 billion target for asset sales after shedding its half of the Super Pit gold mine in Western Australia, Chief Executive Officer Mark Bristow said on Monday. Australia's Saracen Mineral Holdings Ltd agreed on Monday to buy Barrick's 50% stake of the Kalgoorlie Consolidated Gold Mines Joint Venture, which operates one of Australia's largest gold mines, for $750 million.. Newmont Goldcorp Corp holds the other 50% share. The deal is a first step in Barrick's plan to jettison at least $1.5 billion in less-profitable assets by the end of 2020 in the wake of its acquisition of Rangold Resources a year ago.

  • Reuters

    Barrick seeks to eclipse $1.5 bln asset sales target, eyes more copper

    Canadian miner Barrick Gold Corp is keen to top its $1.5 billion target for asset sales after shedding its half of the Super Pit gold mine in Western Australia, Chief Executive Officer Mark Bristow said on Monday. Australia's Saracen Mineral Holdings Ltd agreed on Monday to buy Barrick's 50% stake of the Kalgoorlie Consolidated Gold Mines Joint Venture, which operates one of Australia's largest gold mines, for $750 million.. Newmont Goldcorp Corp holds the other 50% share.

  • Financial Times

    Barrick Gold kicks off $1.5bn disposal programme

    Barrick Gold has kicked off its asset disposal programme with the sale of a stake in one of Australia’s biggest gold mines. The Toronto-listed company has agreed to sell its 50 per cent share in the Kalgoorlie “super pit” to Saracen Mineral for $750m. Barrick is looking to sell non-core assets following a flurry of deals over the past year, including the $6bn purchase of Randgold Resources.

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  • Reuters

    Australia's Saracen Mineral to buy Barrick Gold's half of Kalgoorlie Consolidated Gold Mines

    Australia's Saracen Mineral Holdings Ltd said on Monday it would buy a 50% stake in the Kalgoorlie Consolidated Gold Mines Joint Venture in western Australia from Barrick Gold Corp for $750 million. Saracen intends to partially fund the acquisition through a an A$796 million ($545.66 million) capital raise and the balance of the consideration through a loan of A$450 million. Newmont Goldcorp Corp be will be Saracen’s joint venture partner, retaining its 50% stake.

  • Saracen to Buy Barrick’s Share of Australian Super-Pit for $750m
    Bloomberg

    Saracen to Buy Barrick’s Share of Australian Super-Pit for $750m

    (Bloomberg) -- Barrick Gold said it agreed to sell its 50% stake in Kalgoorlie Consolidated Gold Mines in Western Australia to Saracen Mineral Holdings for $750m in cash.NOTE: Earlier, Saracen Said to Near $750 Million Deal in Barrick Mine Stake To view the source of this information click hereTo contact the reporter on this story: Jim Silver in New York at jsilver@bloomberg.netTo contact the editor responsible for this story: Sebastian Tong at stong41@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • GlobeNewswire

    Barrick reaches agreement to sell its share of Australian Super-pit for $750M

    Barrick Gold Corporation (GOLD)(ABX.TO) today announced it has reached an agreement to sell its 50 percent interest in Kalgoorlie Consolidated Gold Mines ("KCGM") in Western Australia to Saracen Mineral Holdings Limited (“Saracen”) for a total consideration of $750 million in cash. While this iconic gold mine has been a valuable contributor to Barrick over the years, the asset does not fit with our strategy of operating mines that we own.

  • Saracen Said to Near $750 Million Deal in Barrick Mine Stake
    Bloomberg

    Saracen Said to Near $750 Million Deal in Barrick Mine Stake

    (Bloomberg) -- Saracen Mineral Holdings Ltd. is nearing a deal for Barrick Gold Corp.’s share of the Kalgoorlie Super Pit gold mine in Western Australia, according to people familiar with the matter.Perth-based Saracen prevailed over a number of other bidders with an offer that values the 50% stake in the mine at about $750 million, the people said, asking not to be identified discussing confidential matters. Talks could still fall apart and there is no guarantee a deal will be reached, the people said.Spokespeople for Barrick and Saracen couldn’t be immediately reached for a comment.Buying Barrick’s share in the giant operation in Western Australia will give Saracen exposure to an asset that was the country’s third-largest producing gold operation last year, according to industry researcher Surbiton Associates Pty. The site includes a 3.5-kilometer (2-mile) long open pit, an underground mine and processing facilities.Barrick and its key rival Newmont Goldcorp Corp. are in the process of offloading unwanted mines after major acquisitions since 2018 that have reshaped the gold sector. Newmont, which holds the remaining 50% of the Kalgoorlie Super Pit, previously targeted $1.5 billion from asset sales, though has more recently cautioned that it is under no pressure to sell.An earlier attempt by Barrick to sell its Kalgoorlie stake ended in 2017 when Shandong Tyan Home Co. said tighter controls in China on outbound investment meant it could no longer proceed with a proposed $1.3 billion deal.Since then, the Kalgoorlie asset has experienced operational challenges, including rock falls in the open pit in 2018 that have crimped production. Output declined by a third in the nine months to Sept. 30 as costs rose 40%, Newmont said in a Nov. 5 filing.The site is regarded as holding potential for further development of an underground mine and there are plans to continue gold processing into the 2030s. Barrick fielded inquiries from parties across Australia and Asia, Chief Executive Officer Mark Bristow said in September.Barrick Gold hired Credit Suisse Group AG in 2016 to advise it on Kalgoorlie.(Updates with Barrick’s adviser in last paragraph.)\--With assistance from Scott Deveau and Vinicy Chan.To contact the reporters on this story: David Stringer in Melbourne at dstringer3@bloomberg.net;Harry Brumpton in Sydney at hbrumpton@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Linus Chua, Shamim AdamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Thomson Reuters StreetEvents

    Edited Transcript of ABX.TO earnings conference call or presentation 6-Nov-19 2:00pm GMT

    Q3 2019 Barrick Gold Corp Earnings Call

  • Gold ETFs Approach Support After Sell-Off
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  • Financial Times

    Barrick Gold chief eyes growth in ‘strategic’ copper

    Barrick Gold is looking for opportunities to grow its copper business through either exploration or acquisitions, according to its chief executive Mark Bristow. “Where we have opportunities to secure or expand our copper footprint, we will,” Mr Bristow told the Financial Times in an interview. Hailing copper as a “strategic” metal, Mr Bristow said he was already looking at some exciting copper projects in South America but was also prepared to consider acquisitions.

  • Barrick's Dividend Boost Looks Like a Harbinger for the Gold Industry
    Bloomberg

    Barrick's Dividend Boost Looks Like a Harbinger for the Gold Industry

    (Bloomberg) -- Bullion giant Barrick Gold Corp. pleasantly surprised the market by raising its dividend 25%. Will the move portend a new era of largess from the normally tightfisted gold miners?There are certainly reasons for investors to be hopeful. Producers have been striving to cut costs and consolidate operations, while the price of gold has climbed over 20% in the past year to hover around $1,500 an ounce. Barrick’s move Wednesday was echoed a few hours later when Canadian rival Kirkland Lake Gold Ltd. raised its quarterly payout 50%. B2Gold Corp. preceded both by announcing its first-ever dividend a day earlier.“The companies are positioned to start to pay dividends and give more back to shareholders,” Joe Foster, a portfolio manager and strategist at VanEck, said by phone Wednesday. “It happens to coincide with the rising gold price, so you’re getting to see more aggressive moves on the dividends front than we would have seen if gold was $100 or $200 lower.”Gold miners trimmed costs following the sharp decline of the metal’s price toward the start of the decade. Barrick and B2Gold are both expecting costs this year to come in at or below the lower end of company guidance.Barrick rose Wednesday in New York trading, ending the day up 2.2%. The shares were down 0.4% at 9:24 a.m. pre-market on Thursday as gold prices fell. Kirkland Lake gained 2.8% in Toronto Wednesday, while B2Gold climbed 4%.Not all producers have embraced increased payouts this earnings season. On Tuesday Newmont Goldcorp Corp., the world’s largest gold producer, held its dividend steady as it grapples with integrating problematic assets acquired in its mega-merger with Goldcorp Inc.In an interview after assuming the role of chief executive officer Oct. 1, Newmont’s Tom Palmer used a common phrase in the gold industry: capital allocation discipline. For Palmer, that means the first focus will be paying down debt, then funding projects, and finally increasing dividends.A disciplined approach should continue to translate to shareholder returns, says Stephen Walker, RBC Capital Markets’ head of global mining research.“Shareholders have been asking companies to be more disciplined,” Walker said by phone Wednesday. “The ability to return a portion of excess capital to shareholders” is evidence of their improved cost performance, he said.(Updates with shares in fifth paragraph.)To contact the reporter on this story: Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven Frank, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    Barrick CEO Bristow Sees Long-Term Potential for Freeport Tie-Up

    (Bloomberg) -- Barrick Gold Corp.’s chief said there’s a logic to combining with Freeport-McMoran Inc. as a way to expand into copper, but isn’t committing to any deals yet.A tie-up with Freeport could bolster Barrick’s U.S. presence, where it already operates gold mines in Nevada, said Chief Executive Officer Mark Bristow, who cautioned that it’s not something currently being considered.“Everyone has been fingered as a potential suitor of Freeport,” said Bristow, when asked if he was interested in a combination. “There’s a bit of work for us to do before we can get our head around broadening our scope.”Freeport has long been seen as a takeover target for mining majors such as Rio Tinto Group and BHP Group. The biggest miners are all bullish on copper because it’s crucial for the electrification of transport and cities, but supplies look constrained in the long term.Freeport CEO Richard Adkerson said last year that any strategic move is possible, including acquisitions, partnerships, or even a full sale. The company operates several open-pit copper mines in North America, as well as the giant Grasberg project in Indonesia.Tier-One CopperBristow has previously expressed an interest in buying copper assets because the two metals are often mined together. While Barrick, the world’s second-largest gold producer, already has some copper assets, they’re lower in quality compared with other major mining companies.“I’ve raised the flag up the pole on copper,” Bristow said in an interview in London. “If there is a strategic metal, it’s copper. If you believe in electrification, copper is the metal and copper comes with gold.”“For me, it’s all about tier-one assets,” he added.Bristow, who took the top job this year, already has a track record of bold M&A moves in his short tenure at Barrick. After making a failed hostile bid for Newmont Mining Corp. in February, he stitched together a joint venture to combine their giant Nevada gold projects.Barrick shares rose 2% on Wednesday after the company reported better-than-expected profit and raised its dividend. Third-quarter adjusted earnings were 15 cents a share, compared with the average analyst estimate of 11 cents. The miner also said it’s on schedule with plans to sell $1.5 billion of non-core assets by the end of next year.To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CANADA STOCKS-TSX ekes out gains as Barrick Gold shines
    Reuters

    CANADA STOCKS-TSX ekes out gains as Barrick Gold shines

    Canada's main stock index edged higher on Wednesday, helped by an upbeat earnings report from Barrick Gold that bolstered mining stocks, while losses in energy shares kept a check on further gains. * At 09:43 a.m. ET (1443 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was up 21.52 points, or 0.13%, at 16,703.44. * The materials sector added 0.4% as Barrick Gold Corp jumped 3% after beating quarterly profit estimates and raising its dividend payout, benefiting from higher production and better gold prices.

  • Barrons.com

    Barrick Gold Stock Is Up as Profit Beats Forecasts, Dividend Is Raised

    The miner said full-year earnings are likely to be at the higher end of the range it had forecast, while costs will be at the low end.

  • Barrick Gold beats forecasts, raises dividend
    Reuters

    Barrick Gold beats forecasts, raises dividend

    BENGALURU/LONDON (Reuters) - Barrick Gold Corp on Wednesday reported higher third-quarter profits that beat analysts' estimates and raised its dividend while reiterating a five-year production plan. The world's second largest gold producer also said it would be at the top end of its production targets for the year and the lower end of cost estimates. In its five-year plan, Barrick plans to mine 5.1-5.6 million ounces of gold annually at an all-in-sustaining cost of at between $850-$950 per ounce.

  • Reuters

    UPDATE 2-Barrick Gold beats forecasts, raises dividend

    BENGALURU/LONDON, Nov 6 (Reuters) - Barrick Gold Corp on Wednesday reported higher third-quarter profits that beat analysts' estimates and raised its dividend while reiterating a five-year production plan. The world's second largest gold producer also said it would be at the top end of its production targets for the year and the lower end of cost estimates. In its five-year plan, Barrick plans to mine 5.1-5.6 million ounces of gold annually at an all-in-sustaining cost of at between $850-$950 per ounce.

  • GlobeNewswire

    Increased Dividend Reflects Strong Operating Performance and Significant Earnings Increase

    All amounts expressed in US dollars unless otherwise indicated. LONDON, Nov. 06, 2019 -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today posted its third strong quarter in.

  • GlobeNewswire

    Barrick Announces Increased Dividend for Q3 2019

    All amounts expressed in US dollars LONDON, Nov. 06, 2019 -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that its Board of Directors has declared a dividend.