|Bid||17.42 x 0|
|Ask||17.43 x 0|
|Day's Range||17.31 - 17.98|
|52 Week Range||12.54 - 20.37|
|Beta (3Y Monthly)||0.36|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 24, 2018|
|Forward Dividend & Yield||0.16 (0.91%)|
|1y Target Est||13.54|
Barrick Gold Corp. (ABX) closed 0.68% down to $13.09 per share on Monday on the heels of the news that Macquarie has downgraded the stock from outperform to neutral. A neutral rating means that Barrick Gold Corp. is predicted to move sideways in the near future. Warning! GuruFocus has detected 6 Warning Signs with ABX.
Barrick spun off those assets in 2010 into a company now called Acacia Mining Plc. That unit -- listed in London but majority owned by Barrick -- has been dogged by operational setbacks and is locked in a dispute with Tanzania’s government. Acacia shares soared as much as 11 percent in London before falling back to close up 7.7 percent. Barrick, which was up 1.6 percent as of 12:29 p.m. in Toronto, has gained 29 percent since the merger was announced.
TORONTO, Oct. 23, 2018 -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) today announced that Glass Lewis, a leading independent proxy advisory firm, has recommended.
Analysts’ Views: Is It Time to Look at Gold Miners? As we discussed in Could Investors’ Rotation amid the Sell-Off Benefit Gold Miners? gold miners have started looking inexpensive compared to broader equities. The average ratio of the NYSE Arca Gold Miners Index (GDX) and the S&P 500 Index (SPY) is 0.20 compared to the ten-year average of 0.68. Among the gold mining companies under review (GDX), Agnico Eagle Mines (AEM) and Goldcorp (GG) meet most of these criteria.
Analysts’ Views: Is It Time to Look at Gold Miners? According to the consensus compiled by Thomson Reuters, 71% of analysts covering Yamana Gold (AUY) stock have recommended a “buy,” while 15% have recommended a “hold.” AUY’s target price represents an upside potential of 54% based on its current market price. Yamana’s “buy” ratings have improved to the current level of 71% from nearly 31% a year ago.
Of the 18 analysts covering Agnico Eagle Mines (AEM), 72.0% recommended a “buy,” while the remaining 28.0% recommended a “hold.” Among its mining peers (RING)(GDX), AEM has more “buy” recommendations than Yamana Gold (AUY), Barrick Gold (ABX), Newmont Mining (NEM), and Kinross Gold (KGC), which have “buy” ratings from 71.0%, 14.0%, 58.0%, and 42.0% of the analysts covering them, respectively.
TORONTO, Oct. 21, 2018 -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent.
TORONTO, Oct. 19, 2018 -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent.
Kinross Gold (KGC) has underperformed its peers YTD (year-to-date), returning -31.5%. The VanEck Vectors Gold Miners ETF (GDX) has returned -14.5%. The SPDR Gold Trust ETF (GLD), which tracks gold’s physical price, has returned -6.4%. Geopolitical concerns have kept the pressure on KGC in 2018.
Acacia Mining threatened to use a bilateral investment treaty to force face-to-face talks with Tanzania over a long-running tax dispute that has seen the gold miner hit with a huge tax bill. Acacia's parent Barrick Gold has been negotiating with the Tanzanian government over the issue for 19 months but no final settlement has been reached and Acacia's management stresses that it wants direct involvement in any talks.
Of the analysts covering Kinross Gold (KGC), 42.0% recommended a “buy” and 58.0% recommended a “hold.” Ratings for the stock haven’t changed much in recent months. Its target price of $4.56 suggests a potential upside of 63.0% based on its current market price.
Shandong Zhaojin Group , one of China's biggest gold miners, is scouring assets in South America as it looks to invest in its first overseas mining project, its general manager said on Friday. The company has set up a representative office in Machala, capital of Ecuador's El Oro province, historically a gold-producing region, and will use this as a base to participate in South American projects, Liu Yongsheng told Reuters on the sidelines of the China Mining conference in Tianjin.
After outperforming its peers in the first half of 2018, Goldcorp’s (GG) stock slumped. Its second-quarter earnings were also a miss on market expectations, as were its first-quarter earnings. Moreover, the overall sentiment on gold and gold stocks turned extremely negative starting April, hurting GG stock as well.
Acacia Mining (ACAA.L) could use a bilateral investment treaty to force face-to-face talks with Tanzania over a long-running tax dispute that has seen the company hit with a huge tax bill and spilled over into the courts. Acacia's parent Barrick Gold (ABX.TO) has been negotiating with the Tanzanian government on behalf of London-listed Acacia for 19 months but no final settlement has been reached. An investment treaty between Tanzania and Britain could compel the east African country to have direct dialogue with Acacia over a period of six months, interim chief executive Peter Geleta told Reuters.
Acacia has been banned from exporting some products since March 2017, was hit with a $190 billion tax bill and this week was charged with money laundering and corruption. Key InsightsAcacia’s controlling shareholder, Barrick Gold Corp., has been handling the government negotiations until now. Acacia mines all its gold in the country and interim Chief Executive Officer Peter Geleta said he’s “deeply concerned” about increased safety risks for employees in Tanzania and the deteriorating operating environment, which could affect the outlook for the business.The company’s also considering its legal options.
Acacia Mining said on Friday it would seek direct dialogue with Tanzania over a long-running tax dispute and threatened to invoke a bilateral investment treaty should a settlement not be reached. Acacia's parent Barrick Gold has been negotiating with the Tanzanian government on behalf of London-listed Acacia for 19 months but no final settlement has been reached. "We will ... be reaching out to the Government to seek the opportunity for direct dialogue regarding the ongoing disputes between the Government, the Company and the broader Acacia Group," the company said in a statement.
Barrick Gold’s proposed $6bn takeover of Randgold Resources, the Africa-focused gold company run by Mark Bristow, could be “hugely beneficial for Acacia Mining, according to its chief executive Peter Geleta. London-listed Acacia is embroiled in long-running dispute with the government of Tanzania that escalated this week when three of its local subsidiaries were charged with money laundering and tax evasion. Acacia, which operates three mines in Tanzania, is majority controlled by Barrick, the world’s biggest gold company by volume.
Analysts’ Views: Is It Time to Look at Gold Miners? Currently, 20 Wall Street analysts are tracking Goldcorp (GG) stock. About 65.0% of these analysts are recommending a “buy,” 30.0% are recommending a “hold,” and 5.0% are recommending a “sell.” Its current target price of $9.90 implies an upside potential of 65.0% based on its current market price.
A rebound in mining mergers and acquisitions is set to continue into 2019, led by companies from top metals consumer China, as a dearth of exploration spending leaves the industry in need of fresh investment, delegates told a conference on Thursday. Sector M&A in mining powerhouse Canada had its best quarter in more than seven years in July-September, spurred by Barrick Gold Corp's planned $6.5 billion acquisition of Randgold and Chinese firm Zijin Mining's C$1.86 billion ($1.43 billion) deal to buy Nevsun Resources . "We think that this year and next year will be the years of consolidation," Keith Spence, president of Canada-based Global Mining Capital Corp, told the China Mining conference in Tianjin.
According to Thomson Reuters, of the 19 analysts covering Newmont Mining (NEM), 58.0% recommended a “buy,” 37.0% recommended a “hold,” and 5.0% recommended a “sell.” Its target price implies an upside of 38.0% based on its current market price of $30.10. Analysts’ ratings for NEM stock haven’t changed much in the last few months.
Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes in Africa's No.2 copper producer, its finance minister said on Wednesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help bring down mounting debt, Finance minister Margaret Mwanakatwe said while delivering the 2019 budget speech last month.
Barrick Gold (ABX) has significantly underperformed its peers in 2018. Its stock performance has, however, improved after the announcement of its merger with Randgold Resources (GOLD). Year-to-date, its stock has declined by 13.1%, which is similar to the decline seen by the VanEck Vectors Gold Miners ETF (GDX).
Barrick Gold (ABX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Acacia Mining said on Wednesday an employee and a former employee were detained by Tanzania's anti-corruption authority, a week after the gold miner said another staffer had been released on bail after being charged with corruption. Tanzania's ant-corruption authority was quoted by local media as saying the arrests were as part of "ongoing investigation into natural resources exploitation" and "war that the government is waging in the minerals sector", Acacia said in a statement. Acacia, which is Tanzania's largest gold miner, is locked in a long-running dispute with the government which has accused the company of tax evasion.