|Bid||11.87 x 800|
|Ask||11.95 x 27000|
|Day's Range||11.75 - 12.00|
|52 Week Range||9.53 - 14.54|
|Beta (3Y Monthly)||-0.74|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.28 (2.04%)|
|1y Target Est||14.41|
LONDON/TORONTO, May 24 (Reuters) - Barrick Gold Corp's offer to buy the rest of Acacia Mining for $787 million is fair because the Canadian company is taking on more risk by increasing its exposure to Tanzania, its chief executive said on Friday. Barrick, which owns 63.9% of London-listed Acacia, proposed on Tuesday to buy out the minority shareholders as part of efforts to resolve a 2017 tax dispute with the Tanzanian government.
LONDON/TORONTO, May 24 (Reuters) - Barrick Gold Corp's offer to buy the rest of Acacia Mining reflects the risk the Canadian-listed mining company faces in increasing its exposure to Tanzania, its chief executive said on Friday. Barrick, which owns 63.9% in London-listed Acacia, on Tuesday proposed to buy out the minority shareholders as part of efforts to resolve a 2017 tax dispute with the Tanzanian government.
The head of Barrick Gold has defended the company’s proposal to acquire the shares it does not already own in Tanzania-focused Acacia Mining. During months of negotiations with the government of Tanzania, Mark Bristow said Barrick had the opportunity to undertake a detailed examination of Acacia’s three mines in the east African country, which had helped determine the level of its offer. “As you can imagine we have had the opportunity to undertake detailed due diligence on the Acacia assets as part of our work with the government of Tanzania.
Barrick Gold Corp's proposal to take full control of its Acacia Mining Plc unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal.
Gold miners must focus on maximizing returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday. "The industry is in decline and we have put ourselves in a very a tight spot because we haven't invested in exploration and our future," said Mark Bristow, who took the helm in January at Barrick after its takeover of Africa's Randgold. Gold miners have for years been accused of eroding profits through expensive deals but the takeovers of Randgold by Barrick and Goldcorp by Newmont Mining has spurred speculation about a pick up in long-dormant gold M&A.
M&S has successfully slimmed down the amount of clothes it offers cut-price in its end of season sales. Today it unveiled the more important discounts: those on offer to shareholders in the rights issue being launched to fund its new retail joint venture with Ocado. New shares are being offered at a price of 185p in the 1-for-5 issue, compared to a closing price last night of 271p, or 264p if you strip out the dividend, which will be paid before the rights issue closes.
The $285 million proposal made to Acacia’s board and management will offer 0.153 of Barrick shares for each Acacia share, the Toronto-based company -- which already owns about two-thirds of the target, said in a statement. The proposal implies a valuation of $787 million for the whole of Acacia, Barrick said.
Acacia Mining Plc said on Wednesday it continued to be excluded from discussions between Canadian miner Barrick Gold Corp and the Government of Tanzania with regard to a tax dispute. The news announced ...
Barrick Gold has offered to buy the remaining shares in Acacia Mining it does not already own at a discount in an attempt to end a dispute with the government of Tanzania. London-listed Acacia has been unable to export gold-bearing ore from Tanzania for more than two years because of a dispute over unpaid taxes that has decimated its share price.
Mark Bristow is fond of posing with big game he has shot, including a leopard, a lion and an elephant. Now the boss of Barrick Gold has another trophy in his sights: Acacia, a Tanzanian gold miner listed in London. Acacia is locked in a long-running dispute with the Tanzanian government.
Canadian miner Barrick Gold Corp said on Tuesday it has proposed to acquire all of the shares it does not already own in Acacia Mining Plc through a share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia. The proposal values Acacia, which is majority-owned by Barrick, at $787 million and total consideration to the minority shareholders of Acacia of $285 million, Barrick said. In its statement, Barrick said it has been negotiating with the government of Tanzania for the last two years to settle a tax dispute which could allow Acacia to resume its full operations in the country.
THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”). THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS. TORONTO, May 21, 2019 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (GOLD)(ABX.TO) (“Barrick” or the “Company”) today provides the following update in relation to Acacia.
Canada's Iamgold Corp is exploring a possible sale of all or parts of the gold miner business, Bloomberg reported on Thursday, citing people familiar with the matter. The company, which has four operating gold mines, is working with advisers and has been in talks with several potential buyers, according to the report. Iamgold was not immediately available for comment.
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?(Continued from Prior Part)Review of Barrick’s asset baseThe Barrick Gold (GOLD) and Randgold Resources combined company intends to achieve sector-leading (GDX) (JNUG) returns. To achieve
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?(Continued from Prior Part)Free cash flowBarrick Gold’s (GOLD) value-over-volume strategy prioritizes profitable production, a main driver of FCF (free cash flow). The company defines value
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?(Continued from Prior Part)Financial leverageInvestors have become cautious of miners’ escalating debt positions, the result of acquisitions at the peak of the cycle. Gold miners (GDX)
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?(Continued from Prior Part)Barrick Gold’s all-in sustaining costsIn the first quarter, Barrick Gold’s (GOLD) AISC (all-in sustaining costs) rose 2.3% YoY (year-over-year) to $825 per ounce
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?(Continued from Prior Part)What impacted Barrick Gold’s production?Production growth is a crucial variable for miners, and along with realized metal prices, it drives a company’s revenue. In
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?(Continued from Prior Part)ValuationAmong senior and intermediate miners (GDX), Agnico Eagle Mines (AEM) has the highest EV1-to-EBITDA multiple of 10.9x. The multiple is 5.5% higher than its
Could Barrick Gold Be Your Long-Term Gold Bet after Q1?Barrick Gold’s first-quarter resultsBarrick Gold (GOLD) released its first-quarter earnings results on May 8. Its EPS of $0.11 beat analysts’ estimate by $0.02, whereas its top line of
LONDON/NEW YORK (Reuters) - Barrick Gold Corp, the world's second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Fresh from two major deals in recent months, Barrick has said it plans to shed $1.5 billion (£1.16 billion) of less productive mines, which have little expansion potential. It included Lumwana among the possible sales, as a relatively low-grade copper mine whose margins could be materially affected by Zambia's new mining code and import duty.
LONDON/NEW YORK, May 14 (Reuters) - Barrick Gold Corp , the world's second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Fresh from two major deals in recent months, Barrick has said it plans to shed $1.5 billion of less productive mines, which have little expansion potential. It included Lumwana among the possible sales, as a relatively low-grade copper mine whose margins could be materially affected by Zambia's new mining code and import duty.
With a few tweets, gold stocks are looking a bit more golden these days. As President Trump announced that a trade deal with China was off the table for now and that tariffs would increase, investors have naturally gotten nervous. Volatility has spiked and markets saw some heavy losses over the last few trading sessions. With that, gold stocks have once again gotten the nod from investors.Prices for the precious metal have steadily risen on the back of the bad news. Today, June gold futures are clocking at around $1,287.40 per ounce. That's near their highs for the year.Those highs are wonderful news for the various gold stocks. Thanks to their fixed costs, the miners make a pretty penny on the difference between what it costs them to produce and what gold is trading at. The difference between the two price points is generally all profit for the major mining firms. So, the higher gold goes, the more money the miners will make. So, with the precious metal trending higher amid the uncertainty, the various gold stocks could be some of the biggest beneficiaries in the current market malaise.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 'Buy-and-Hold' Stocks to Own Forever The question is, how can investors take advantage of it? With that, here are three golden ways to play gold stocks. VanEck Vectors Gold Miners ETF (GDX)When it comes to buying gold stocks through exchange-traded funds, it's the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) and then everyone else. Thanks to its first-mover status, GDX has become the perennial investor favorite. Featuring huge trading volumes and more than $8.8 billion in assets, the ETF is really in a league of its own. And there is a good reason for that.GDX tracks the NYSE Arca Gold Miners Index, which is the main benchmark of gold stocks. To be included, miners must derive at least 50% of their revenues from the sale of gold. This creates a portfolio of 46 different miners such as top dogs like Barrick Gold (NYSE:GOLD) and Franco-Nevada (NYSE:FNV). The ETF is diverse as well and features a global portfolio. About half of the fund's holdings are from Canada with the U.S., Australia and South Africa rounding out the top nations.Focusing on the top dogs has been good for GDX's overall returns.As of the end of the first quarter, the ETF has managed to produce a 4.42% annual total return over the last three years. While that may not be super impressive on the surface, this return actually bests other large/senior gold stocks ETFs by a wide margin. So, if you're going to go the index approach, GDX has earned its crown.Even including the ETF's high 0.52% expense ratio ($52 per $10,000 invested), GDX remains simply the best broad way to play gold stocks. Sprott Junior Gold Miners Exchange Traded Fund (SGDJ)Investors looking for more "oomph" from their gold stocks may want to think small. That is, towards the junior miners.The junior miners are often exploration companies with just one or two mines. And in many cases, those mines are not operational or producing gold yet. Because of this, they are often buyout targets from larger gold firms. And as such, serve as the valuable first step in future gold supply. Generally, when prices rise, the junior miners are more valuable due to the amount of gold in their potential reserves.The problem is, they are risky as heck and there's no guarantee that a claim will actually turn into future production.This is where the Sprott Junior Gold Miners Exchange Traded Fund (NYSE:SGDJ) could be a great way to bet on these gold stocks. SGDJ is a so-called smart-beta ETF and uses various screens to craft its index. The ETF kicks out the smallest of the small gold stocks and then applies revenue growth and price momentum models onto its holdings. Those stocks that make the cut are added to its index. This eliminates some of the risk associated with the juniors. With it, investors get a portfolio of stocks that actually have the potential to succeed. The strategy seems to be working, with SGDJ providing a 4.91% annual return since its inception in 2015. * 10 Stocks That Could Squeeze Short Sellers, Including CGC In the end, the juniors can be a great gold stock play and SGDJ makes that play easier to swallow. Expenses for the ETF run at 0.57%. U.S. Global Investors Gold & Precious Metals Fund (USERX)Index investing is great, but there are some areas where an active touch can help deliver better returns. This seems to be the case with gold stocks and other precious metals equities. And one of the best mutual funds in the sector happens to the U.S. Global Investors Gold & Precious Metals Fund (MUTF:USERX).USERX has a long history of outperformance in the sector. Making its debut back in 1974 as one of the first no-load mutual funds, the fund has consistently been one of the best ways to play the gold miners. Currently, the fund features a four-star rating from Morningstar. The reason for the high rating and continued outperformance is due to the underlying managers.Frank Holmes and his team all have backgrounds in geology and mining finance. This gives them plenty of "boots on the ground" knowledge in the sector. Secondly, the fund tends to focus on the senior miners that are currently pulling gold or other precious minerals out of the ground. With that, there's less overall risk and volatility to the fund. The combination along with U.S. Global's general focus on "growth at a reasonable price" has made it one of the best performing gold funds.Over the last five years, USREX has managed to produce a 2.05% annual return. This compares to just 0.76% annual return for the FTSE Gold Mines Index. This is even with the fund's rather high 1.65% expense ratio.Overall, when it comes to an effective, actively managed way to play gold stocks, USERX could be it.At the time of writing, Aaron Levitt did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 6 Trade War Stocks With a Lot of Risk * 7 Bond ETFs to Buy * 10 Stocks That Could Squeeze Short Sellers, Including CGC Compare Brokers The post 3 of the Best ETFs to Buy for a Play on Gold Stocks appeared first on InvestorPlace.
Gold and Miners Gain as Trade War Fear Makes a ComebackUS-China trade war escalatesThe US-China trade war just got more dangerous. After some optimism last week with the two sides appearing to approach some sort of agreement, markets seem to have