|Bid||13.10 x 21500|
|Ask||13.27 x 800|
|Day's Range||13.13 - 13.41|
|52 Week Range||9.53 - 16.22|
|Beta (3Y Monthly)||-0.90|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.12 (0.91%)|
|1y Target Est||13.93|
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.
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.
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, ...