|Bid||16.350 x 0|
|Ask||16.360 x 0|
|Day's Range||16.330 - 16.520|
|52 Week Range||14.260 - 22.700|
|PE Ratio (TTM)||20.81|
|Earnings Date||Jul 25, 2018|
|Forward Dividend & Yield||0.16 (0.89%)|
|1y Target Est||16.40|
The stock has significantly underperformed its close peers Goldcorp (GG), Newmont Mining (NEM), and Agnico Eagle Mines (AEM), which returned 3.6%, -1.8%, and -1.4%, respectively. The VanEck Vectors Gold Miners ETF (GDX) returned -5.5% over the same period. Some of the same issues are still affecting the stock today. See Market Realist’s series A Look at Barrick Gold after Its 1Q18 Earnings Beat for more on Barrick Gold’s outlook.
Investors are typically interested in gold mining companies’ (GDX)(GDXJ) ability to generate FCF (free cash flow) because FCF helps them invest in future growth—apart from the aim of returning cash to shareholders.
In this part, we’ll discuss what analysts expect for these gold miners’ (RING) earnings. In line with lower revenues, Barrick Gold’s (ABX) EBITDA are also expected to fall. Barrick is expecting its all-in sustaining costs for 2018 to be $765–$815 per ounce, compared to $710–$770 per ounce in 2017.
It’s been a year since Acacia Mining Plc’s majority shareholder started talks on its behalf to end a standoff with the Tanzanian government and interim Chief Executive Officer Peter Geleta is getting frustrated. Barrick Gold Corp., which owns about 64 percent of London-based Acacia, last month withdrew a timetable to resolve the dispute with Tanzania, after previously indicating it would have a detailed proposal ready by mid-year.
Acacia Mining (ACAA.L) said on Friday reported a fall in first-half core earnings but managed to generate cash due to strong operational performance at its mines in Tanzania. Acacia, majority owned by Barrick Gold (ABX.TO), generated free cash flow of $14 million in the second quarter for the first time since 2016, the company said. Tanzania, where Acacia has all of its operating mines, has introduced sweeping changes to its mining industry including banning the export of raw minerals and introducing laws to reap more revenue from the sector.
Acacia Mining said on Friday reported a fall in first-half core earnings but managed to generate cash due to strong operational performance at its mines in Tanzania. Acacia, majority owned by Barrick Gold, generated free cash flow of $14 million in the second quarter for the first time since 2016, the company said. Tanzania, where Acacia has all of its operating mines, has introduced sweeping changes to its mining industry including banning the export of raw minerals and introducing laws to reap more revenue from the sector.
Analyst estimates for gold miners’ (GDX) revenues can give us a good idea about their outlook on gold prices (GLD) as well as companies’ production growth. In this part of our series, we’ll assess analysts’ revenue expectations for gold companies in the second quarter and beyond. Analysts expect Barrick Gold (ABX) to generate revenues of ~$1.84 billion in the second quarter.
Jim Cramer recommended on CNBC's "Mad Money Lightning Round" a long position in Childrens Place Inc (NASDAQ: PLCE ). He would buy the weakness in the stock. Dynavax Technologies Corporation (NASDAQ: ...
Barrick's (ABX) Q2 gold production figures are roughly in line with Q1 while AISC is expected to increase 5-7%. Also, the company lowers 2018 copper production view.
Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia. Barrick, which looks likely to lose its rank as the world's biggest gold producer this year, maintained its 2018 output estimate of between 4.5 million and 5 million ounces of gold at all-in sustaining costs of $765 to $815 an ounce. Rival Newmont Mining Corp has said it expects to produce between 4.9 and 5.4 million ounces of gold in 2018.
The average market price for gold in the second quarter was $1,306 per ounce, while the average market price for copper was $3.12 per pound. Preliminary second quarter gold production of 1.07 million ounces was roughly in line with the first quarter of the year. Second quarter gold cost of sales per ounce1 is expected to be slightly higher quarter-over-quarter, with cash costs per ounce2 and all-in sustaining costs per ounce2 approximately 5-7 percent higher than the first quarter.
Barrick Gold's (ABX) latest deal with Shandong Gold will enable the companies to jointly explore opportunities and boost long-term value.
WallStEquities.com shifts focus on Gold, whose prices are influenced by numerous variables that include fabricator demand, expected inflation,return on assets,and central bank demand. Gold is strongly pegged to supply-and-demand patterns. In this morning's lineup are these four stocks: Alamos Gold Inc. (NYSE: AGI), AngloGold Ashanti Ltd (NYSE: AU), B2Gold Corp. (NYSE AMER: BTG), and Barrick Gold Corp. (NYSE: ABX).
The following are the top stories from select Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Barrick Gold Corp says it is looking ...
Gold went on a bit of a roller coaster ride in 2017. Gold prices bounced between highs and lows from month to month in a trading range of roughly $1,200 to $1,300 per ounce before breaking out to a yearly high of nearly $1,350 per ounce in September. The SPDR Gold Shares ETF ( GLD), the SPDR ETF that tracks gold bullion, returned 12.81% in 2017. The precious metal trades at around $1,258 per ounce as of July 9, 2018. The precious metal has traditionally been perceived as a safe haven investment in times of economic uncertainty – and no one can argue that major shakeups such as Brexit, Donald Trump's presidency, skepticism about a resolution on the Korean peninsula and volatility in the cryptocurrency market have contributed to a general feeling of unpredictability.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? Among the senior mining companies under review in this series (GDX), Newmont Mining (NEM) is currently trading at the highest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 8.0x. Goldcorp (GG) has the second-highest multiple at 7.4x, representing a premium of 18% to its peers. GG’s historical premium has, however, fallen.
Barrick said it had signed an “enhanced strategic cooperation” agreement with the Chinese miner on Monday following its acquisition of half of Barrick’s Veladero mine in Argentina last year. “The Parties have agreed to consider opportunities to work together on acquisition opportunities or potential asset sales, if both parties agree it is in their collective best interests, and would enhance the value of such an opportunity,” Barrick said. The tie-up is the latest initiative of Barrick’s Chairman John Thornton, a former Goldman Sachs banker who has close links to China.
Canadian miner Barrick Gold Corp and China's Shandong Gold on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions. Barrick Gold, the world's largest producer of bullion, last year signed a near billion-dollar deal to sell Shandong a 50-percent stake in its Veladero mine in Argentina. The development is one of Barrick's top five gold mines.
Barrick Gold Corporation (ABX) (ABX.TO) (“Barrick” or the “Company”) today announced that it has entered into an enhanced strategic cooperation agreement with Shandong Gold Group Co., Ltd. (“Shandong Gold”1), deepening Barrick’s partnership with one of China’s leading mining companies. The document builds on an earlier agreement signed between the two companies in April 2017, when Shandong Gold Mining Co., Ltd., acquired 50 percent of Barrick’s Veladero mine in Argentina. “Over the past year, we have been laying the foundation for a distinctive, enduring, and trust-based relationship with Shandong Gold,” said Barrick Executive Chairman John L. Thornton.
As the Fed’s June 12–13 meeting minutes were released yesterday, the US dollar softened, giving buoyancy to precious metals, which are dollar-denominated assets. With a cheaper US dollar, the assets are more affordable for foreign buyers and their demand surges.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? Barrick Gold’s (ABX) 2017 underperformance has extended well into 2018. Barrick stock fell 9.3% in the first half of 2018 compared to the fall of 4% in the VanEck Vectors Gold Miners ETF (GDX).
LONDON, UK / ACCESSWIRE / July 5, 2018 / Active-Investors free stock reports for this morning include these Toronto Exchanges' equities from the Metals & Mining industry: Barrick Gold, B2Gold, Goldcorp, and HudBay Minerals. The TSX Venture Exchange shaved off 1.82 points, or 0.25%, to finish at 738.75. Today's stocks of interest consist of: Barrick Gold Corporation (TSX: ABX), B2Gold Corporation (TSX: BTO), Goldcorp Inc. (TSX: G), and HudBay Minerals Inc. (TSX: HBM).