13.15 -0.01 (-0.08%)
After hours: 7:11PM EDT
|Bid||13.15 x 800|
|Ask||13.20 x 1000|
|Day's Range||12.66 - 13.35|
|52 Week Range||9.53 - 16.30|
|Beta (3Y Monthly)||-0.90|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.12 (0.94%)|
|1y Target Est||13.94|
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.
The price of gold has rallied over the last 3 months, as stocks and the dollar have weakened, enabling the precious metal to recover from weakness in the first six months of 2018. Gold prices weakened in the first half of 2018 after a tumultuous, but ultimately stronger 2017. The SPDR Gold Shares ETF ( GLD), the SPDR ETF that tracks gold bullion, is down 8.81% in 2018 after returning 12.81% in 2017. The precious metal trades at around $1,228 per ounce as of October 15, 2018. The precious metal has traditionally been perceived as a safe haven investment in times of economic uncertainty and the recent concerns – along with the slide in stock prices – certainly fit the bill.
Gold, Miners Have Surged on the Market Rout—What’s the Upside? In the current sell-off, technology companies (XLK) (SMH) are leading the decline. Investors’ stretched valuation concerns have been especially acute in the US tech space, meaning that tech stocks are much more vulnerable to higher interest rates.
Chile's environmental court on Friday ordered Canada's Barrick Gold Corp to definitively close the Chilean side of its stalled Pascua-Lama mining project, a final procedural step that draws a line under a long-running saga. The court, sitting in the northern Chilean city of Antofagasta, approved by two votes to one the closure of the polemical project that straddles the Andes Mountains between Chile and Argentina. The gold and silver operation was put on hold in 2013 due to environmental issues, political opposition, labor unrest and development costs that ballooned to $8.5 billion.
Barrick Gold Corp. (ABX) soared 9.4% to $12.58 per share on Thursday after the release of results on production and sales for the third quarter of 2018. Warning! GuruFocus has detected 4 Warning Signs with ABX. Barrick Gold Corp confirmed previous expectations of consolidated gold production of 4.5 million to 5.0 million ounces and suggested that it will beat expectations on third-quarter revenues by about $360 million.
Shares of Barrick Gold on the other hand were soaring along with other gold stocks as investors looked for a safe haven on concerns over the market falling and inflation. The lithium producer's IPO price was below expectations and first traded at $16.25 at 10:05 A.M. ET for 1.99 million share.
Following spot gold prices higher Thursday, gold miners exchange traded funds soared. The VanEck Vectors Gold Miners ETF (NYSEArca: GDX), the largest exchange traded fund dedicated to gold mining stocks, ...
Buoyed by improved grade and throughput at Nevada, Barrick (ABX) projects higher production and sales in Q3. The company maintains full-year production and cost outlook.
Futures for Canada's main stock index fell on Thursday following a rout in world markets, as jitters over rising U.S. Treasury yields and signs of slowing global growth sparked a broad selloff of risky ...
Canada's Barrick Gold Corp (ABX.TO), which recently announced a $6.1 billion (£4.6 billion) deal to acquire Randgold Resources Ltd (RRS.L), https://t.co/N7uaLM1tXK affirmed its 2018 gold and copper production forecast on Wednesday, reflecting improvements in operations. Citing preliminary data, Barrick said its 2018 effective tax rate was expected at about 48 to 50 percent, up from a previous forecast of 44 to 46 percent, because of lower-than-expected sales from lower-tax mines. In the third quarter, Barrick said it sold 1.2 million ounces of gold and 114 million pounds of copper, and produced 1.15 million ounces of gold and 106 million pounds of copper.
Canada's Barrick Gold Corp , which recently announced a $6.1 billion deal to acquire Randgold Resources Ltd, https://t.co/N7uaLM1tXK affirmed its 2018 gold and copper production forecast on Wednesday, reflecting improvements in operations. Citing preliminary data, Barrick said its 2018 effective tax rate was expected at about 48 to 50 percent, up from a previous forecast of 44 to 46 percent, because of lower-than-expected sales from lower-tax mines. In the third quarter, Barrick said it sold 1.2 million ounces of gold and 114 million pounds of copper, and produced 1.15 million ounces of gold and 106 million pounds of copper.
The average market price for gold in the third quarter was $1,213 per ounce, while the average market price for copper was $2.77 per pound. Preliminary third quarter gold sales of 1.20 million ounces, and gold production of 1.15 million ounces, were approximately 16 percent and 8 percent higher than the second quarter, respectively, primarily due to improved throughput and grade at Barrick Nevada.
In the world of physically backed gold ETFs, the SPDR Gold Shares ( GLD) is the world's largest. As is often the case when gold declines, shares of gold miners overshoot the commodity's decline. The VanEck Vectors Gold Miners ETF ( GDX), the largest gold miners ETF, is down 20.9% this year.
Barrick Gold Corporation (ABX)(ABX.TO) (“Barrick”) announced today that it has filed its management information circular and related voting materials in connection with a special meeting of shareholders to be held on November 5, 2018. The purpose of the meeting is to approve the issuance of Barrick common shares in connection with the merger of Barrick and Randgold Resources Limited (“Randgold”), as previously announced on September 24, 2018, as well as to approve the continuance of Barrick to the Province of British Columbia. Shareholders of Barrick should receive these meeting materials by mail shortly.
Gold miner Acacia Mining raised its full-year gold production target on Monday, as third-quarter production exceeded its expectations partly boosted by a 24 percent jump in output at its North Mara mine in Tanzania. The UK-listed company raised its full-year target to be marginally higher than 500,000 ounces from an earlier forecast of 435,000 to 475,000 ounces, and said that it saw strong production across its three mines in north-west Tanzania. Acacia Mining, majority owned by Canada's Barrick Gold , operates the Bulyanhulu, Buzwagi and North Mara mines in north-west Tanzania, where mining regulations have tightened over the past few years as the country looks to reap more revenue from the sector.
Canadian mergers-and-acquisitions activity nearly doubled in the third quarter, fueled by deals in the mining, real estate and cannabis sectors, according to Thomson Reuters data released on Thursday. Mining transactions in the quarter included Barrick Gold Corp's planned $6.5 billion acquisition of Africa-focused miner Randgold Resources, as well as China's Zijin Mining Group's C$1.86 billion ($1.45 billion) deal to acquire Nevsun Resources.