|Bid||0.00 x 900|
|Ask||0.00 x 800|
|Day's Range||12.69 - 13.58|
|52 Week Range||9.53 - 14.18|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.13|
The $11 billion VanEck Vectors Gold Miners ETF, ticker GDX, saw trading volume spike to its highest in two months Tuesday. GDX is the largest materials ETF and tracks corporations that are primarily involved in mining gold and silver. The precious metal offers a potential hedge against global political uncertainties like the U.S.-China trade war.
The news sent London-listed shares in Acacia, which is 63.9 percent owned by Barrick, up 6 percent to their highest since October 2017, when an initial framework agreement was announced. Barrick's announcement confirms the 2017 deal which called for the creation of a local firm in Tanzania to manage Acacia's assets, a 50-50 split of economic benefits and a $300 million payment to resolve all outstanding tax claims in the East African country. Acacia, which was not allowed to negotiate for itself, and Tanzania's government have been locked in a prolonged conflict with the government tearing up mining contracts, hiking taxes and royalties, and banning exports of raw minerals.
Barrick Gold Corporation (GOLD)(ABX.TO) is reviewing a range of new exploration opportunities and re-evaluating its existing operations and projects in Chile, the Company’s new president and chief executive officer Mark Bristow said here today. Speaking after a meeting with Minister of Mining Baldo Prokurica, Bristow said Barrick’s Chilean assets were an important part of its global portfolio and noted that the Company has recently approved an investment to increase productivity at its jointly owned Zaldívar copper mine. Over the past 10 years, Barrick has spent some $8 billion in Chile on exploration, development, royalties and taxes, wages, and payments to local suppliers.
The Toronto-based miner’s long-term license to operate its mine in Papua New Guinea is due for renewal this year. The largest gold miner may already be trying to get ahead of that tide in PNG. Chief Executive Officer Mark Bristow met last week with government officials about extending its license for the Porgera mine, Barrick’s joint venture with Zijin Mining Group Co.
Gains in material companies pulled higher Canada's main stock index on Wednesday, as gold prices rose on hopes of a trade deal between the United States and China. * Investors are focused on the latest developments in the talks in Washington, and President Donald Trump on Tuesday suggested he was open to extending the deadline to complete negotiations. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2 percent as gold futures rose 0.1 percent to $1,341.9 an ounce.
Futures pointed to a flat opening for Canada's main stock index on Wednesday as investors assessed the latest developments in the fresh round of U.S.-China trade talks in Washington. U.S. President Donald ...
Canadian miner Barrick Gold on Wednesday outlined a plan to settle disputes between its Acacia Mining unit and Tanzania's government, which includes a $300 million payment to resolve tax claims in the East African country. London-listed Acacia and Tanzania's government have engaged in a prolonged dispute over tax evasion, breach of environmental regulations and other issues. Barrick, which owns a 63.9 percent stake in Acacia, also proposed to create a local operating company in Tanzania and share economic benefits from Acacia's operations with the Tanzanian government on a 50-50 basis.
Barrick Gold Corp on Wednesday outlined a proposal to settle disputes between its Acacia Mining unit and Tanzania's government, that includes a $300 million payment by the Canadian miner to settle tax ...
Barrick Gold Corporation (GOLD)(ABX.TO) (“Barrick” or the “Company”) today announced that the Company, in its capacity as a facilitator, and the Government of Tanzania have arrived at a proposal that sets forth the commercial terms to resolve outstanding disputes concerning Acacia Mining plc’s operations in Tanzania. The Company will present this proposal to the Independent Directors of Acacia in the near future for their consideration.
On his first visit to Papua New Guinea as the new President and CEO of Barrick Gold Corporation (GOLD)(ABX.TO), Mark Bristow said the global mining group is committed to strengthening the Company’s partnership with the government and local communities, which has enabled the Porgera gold mine to deliver substantial benefits to PNG for almost 30 years. During his four-day visit, Bristow met with Deputy Prime Minister Charles Abel and representatives of the Porgera Landowners Association, including Chairman Mark Ekepa and member Dixon Pundi. Bristow also hosted a dinner for Enga Provincial Governor Sir Peter Ipatas, Minister for Foreign Affairs & Trade Rimbink Pato, Member of Parliament for Lagaip-Porgera, Tomait Kapili, and Member of Parliament for Wabag, Dr. Lino Tom.
Barrick’s main project, the Veladero joint venture with Shandong Gold in Argentina, isn’t performing like a tier one asset, Mark Bristow said on Wednesday. In 2019, Veladero is expected to have the highest cost per ounce in Barrick’s portfolio. “Every one of those projects, if you bring them to account, they are very high capital,” Bristow said of the Latin America ventures during an interview from the sidelines of Barrick’s fourth-quarter analyst meeting in Toronto.
Barrick Gold favors a partnership with rival Newmont Mining to combine ore processing operations at some gold mines in Nevada, Barrick CEO Mark Bristow said in an interview.
“John really drove this business on multiple fronts, but his primary focus was the debt,” Barrick CEO Bristow said Wednesday in an interview at Bloomberg’s Toronto office, referring to the miner’s executive chairman, John Thornton. Last year, Barrick backed away from a goal, announced in 2016, of reducing all-in sustaining costs to $700 an ounce, citing inflation and falling production as headwinds. Now that Barrick has completed its $5.4 billion merger with Randgold Resources Ltd., Bristow said there is “every indication” that the new company’s costs can move toward that goal.
Barrick Gold Corp on Wednesday forecast a double-digit jump in gold output this year, underscoring the growth potential of the world's largest publicly traded bullion producer after it bought rival Randgold Resources last month. Shares of Barrick fell 2.6 percent to $17.26 in morning trading. Barrick, which spent $6.1 billion on the Randgold deal, has formed new management teams, cut administrative costs and begun to spend more on geology and other mine services, part of new Chief Executive Mark Bristow's plan to set the combined company firmly apart from peers.
Canada's main stock index rose on Wednesday, led by gains in healthcare stocks and the energy sector, which was supported by higher crude prices. * At 9:36 a.m. ET , the Toronto Stock Exchange's S&P/TSX ...
TORONTO (AP) _ Barrick Gold Corp. (GOLD) on Wednesday reported a loss of $1.2 billion in its fourth quarter. On a per-share basis, the Toronto-based company said it had a loss of $1.02. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 6 cents per share.
Barrick Gold’s net loss widened in the fourth quarter as it recorded impairments and saw sales fell amid weaker gold production and selling prices.
The cost guidance “primarily reflects the planned completion of mining at the comparatively high-grade, low-cost Cortez Hills open pit in the first half of the year,” Barrick said Wednesday in a statement, referring to one its operations in Nevada. The Toronto-based miner provided the first nitty-gritty glimpse of what production and costs are expected to look like for the combined company. Last year, Barrick backed away from a $700 goal announced in 2016, citing inflation and falling production as headwinds.
Barrick Gold Corp, the world's largest publicly traded gold producer, said on Wednesday its quarterly loss widened due in part to an impairment charge and rise in production costs. The company, which closed ...
All financial numbers are in US dollars ($) unless otherwise stated On 22 January 2019, Randgold Resources Limited (‘Randgold’) changed its name to Barrick Gold (Holdings).
All amounts expressed in U.S. dollars unless otherwise indicated Completed transformational merger with Randgold Resources Limited to create industry-leading gold company,.
, the world’s largest gold miner, said it made a net loss of $1.2bn in the fourth quarter of 2018 before its merger with London rival Randgold Resources. The Canadian miner said the loss was due to a $900m impairment charge relating to its Veladero and Lagunas Norte mines in South America, as well as reduced gold output at Acacia Mining, which remains locked in a dispute with the government of Tanzania. The results highlight some of the motivation behind the merger with Randgold, which was orchestrated by Barrick’s executive chairman John Thornton.
Acacia Mining beat forecasts on Monday with figures for its production and costs in 2018 that lifted the gold miner back into profit, but the company is still grappling with a long-running tax dispute in Tanzania where it operates all its mines. Shares in Acacia, majority owned by Barrick Gold Corp , were steady while the rest of the market rose, finding little impetus despite reporting gold output of 521,980 ounces at a cost of $905 per ounce. "Financials for Acacia remain somewhat of a sideshow due to the ongoing negotiations between parent Barrick and the government of Tanzania," said RBC analyst James Bell.