13.900 +0.01 (0.07%)
After hours: 4:00PM EST
|Bid||13.860 x 39400|
|Ask||13.870 x 36200|
|Day's Range||13.55 - 14.04|
|52 Week Range||9.53 - 15.52|
|Beta (3Y Monthly)||-1.75|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.12 (0.88%)|
|1y Target Est||14.15|
Mark Bristow is a South African geologist and big-game hunter. Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world’s largest gold-mining company, whose shares are down 67 percent from their high in 2010. Thornton, executive chairman of Barrick Gold Corp., set the partnership in motion when he announced a deal for smaller rival Randgold Resources Ltd. for $5.4 billion in September.
Barrick Gold Corporation (ABX)(ABX.TO) (“Barrick” or the “Company”) today announced that its Board of Directors has declared a dividend for the fourth quarter of 2018 of $0.07 per share, payable on January 14, 2019, to shareholders of record at the close of business on December 28, 2018. This will result in an annual dividend of $0.16 per share paid to the shareholders of Barrick in respect of the 2018 financial year. Following the completion of Barrick’s merger with Randgold Resources Limited, the Company expects to pay a quarterly dividend of $0.04 per share, commencing with the dividend to be declared in April 2019 in respect of the first quarter of 2019.
Barrick Gold Corporation (ABX)(ABX.TO) (“Barrick”) today announced that the Royal Court of Jersey has sanctioned the scheme of arrangement by which the recommended share-for-share merger of Barrick and Randgold is being implemented. Mark Bristow, incoming President and CEO of Barrick, said the court’s approval was the last major landmark on the journey towards the creation of a new breed of gold company. Barrick intends to change its ticker symbol on the New York Stock Exchange from “ABX” to “GOLD” beginning on the merged company’s first day of trading on January 2, 2019.
Canada's First Quantum Minerals plans to lay off more than 1,000 workers at Zambia's Kalumbila copper-nickel mine when the government hikes taxes in January, the minister of labour said on Saturday. Labour Minister Joyce Simukoko told Reuters that the management at Kalumbila mine wrote to her office last week informing her of the planned job cuts. "We received the letter last week informing us that they want to lay off more than 1,000 workers starting in January but we think these are arm-twisting tactics," Simukoko said.
LONDON—The U.K.’s Serious Fraud Office is investigating Acacia Mining, an Africa-focused miner that is majority owned by gold giant Barrick Gold Corp., over allegations of corruption in Tanzania, according to people familiar with the matter. The interest of British law enforcement in Acacia marks a heightening of scrutiny over the company—and another headache for Canada’s Barrick, the world’s largest gold producer by output. The British investigations into Acacia focus around accusations that employees of the company, which was called African Barrick until 2014, bribed Tanzanian government officials and consultants, according to the people familiar with the matter.
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Barrick Gold Corporation (ABX)(ABX.TO) (“Barrick”) announced today that it has agreed to exercise its participation right in connection with a private placement offering by Reunion Gold Corporation (RGD.V) (“Reunion”). Barrick has agreed to acquire up to an additional 12,600,000 common shares of Reunion at a price of $0.18 per share. The aggregate consideration to be paid by Barrick in the offering is $2,268,000.
said it had “been in contact” with the UK’s Serious Fraud Office in the wake of corruption allegations against its staff in Tanzania. The Africa-focused gold miner said, however, that it is “not aware that the SFO is investigating the company,” following a report in the Wall Street Journal which claimed it is being investigated. , said two employees and a former employee in Tanzania were charged of various corruption offences by local authorities.
Executives from the Toronto-based producer and Randgold Resources Ltd., which is being bought by Barrick, met with Tanzanian negotiators on Dec. 7, said the people, who declined to be identified as the talks are private. During that meeting, the two sides made significant progress on a deal that includes Acacia Mining Plc paying $300 million in installments. The terms are now being handed off to a tax working group in Tanzania for review, the people said.
Government officials met last week with executives from Toronto-based Barrick and Randgold Resources Ltd, which Barrick is acquiring, to discuss the issue, said the source, who declined to be identified due to the sensitivity of the talks. Acacia Mining, 63.9 percent owned by Barrick, is operating under a raw mineral export ban and faces a $190 billion tax bill from the Tanzania government. "The next week is crucial." Bloomberg reported on Wednesday that Barrick had reached an agreement with the government on a $300 million payment, which Acacia will make in installments, with terms under review by a Tanzanian tax working group.
JOHANNESBURG/TORONTO, Dec 12 (Reuters) - Barrick Gold Corp has made progress in talks with the Tanzanian government to resolve a nearly 2-year-long tax dispute, but it is premature to say a deal has been reached, a person familiar in the matter told Reuters on Wednesday. Government officials met last week with executives from Toronto-based Barrick and Randgold Resources Ltd, which Barrick is acquiring, to discuss the issue, said the source, who declined to be identified due to the sensitivity of the talks. Acacia Mining, 63.9 percent owned by Barrick, is operating under a raw mineral export ban and faces a $190 billion tax bill from the Tanzania government.
rose by 6 per cent on Wednesday on hopes of a resolution to its longstanding dispute with the Tanzanian government, which has hampered its operations in the country. , which has left Acacia unable to export gold since March 2017, according to a person familiar with the matter. If an agreement is reached it would be a victory for Mark Bristow, the new chief executive of Barrick, following its agreement to merge with London-listed Randgold Resources in September.
The company has been in focus ahead of a planned merger with Pandora (NYSE:P). The company will next report results on Jan. 23 before the bell. Analysts are looking for earnings of 6 cents per share on revenues of $1.5 billion.
A look at the shareholders of Barrick Gold Corporation (TSE:ABX) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge Read More...
Mining companies in Zambia may lay off more than 21,000 workers due to reduced capital expenditure over the next three years if the government introduces higher taxes in January, an industry body said on Tuesday. The Chamber of Mines said it met officials at the ministry of finance last week to present its views on the likely impact of the tax changes contained in the 2019 budget, which include capital expenditure cutbacks of more than $500 million. "Our members continue to review their operations and are having to consider scaling back substantially while reducing capital expenditure by over a half billion dollars over the next three years," chamber of mines spokesman Talent Ng'andwe said by email in response to questions by Reuters.
Take gold stocks for instance. When the S&P 500 peaked back in September, the gold miners industry sat down across from stocks on a teeter-totter. From a price perspective, the Gold Miners ETF (NYSE:GDX) is looking up.
Gold has done OK amid recent stock losses. The S&P; 500 lost 12% since its closing high Sept. 20, while iShares Gold Trust gained 3%.
Is Barrick Gold Corporation (NYSE:ABX) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk […]
Barrick Gold Corp., the world’s largest gold miner, is selling a research-and-development company it owns and is cutting staff hired to lead what executives had called a digital reinvention, championed by Executive Chairman John Thornton, people familiar with the matter said. The move comes shortly after the company agreed to buy Randgold Resources Ltd. for $6 billion in an all-share merger—a move that would solidify Barrick as the world’s largest gold producer by output. One of the first assets to go on the block is Barrick-owned AuTec Innovative Extractive Solutions Ltd., a Vancouver-based company that specializes in testing mineral samples and processing, people familiar with the matter said.