16.60 +0.03 (0.18%)
After hours: 7:43PM EST
|Bid||16.52 x 3100|
|Ask||16.59 x 3200|
|Day's Range||16.50 - 16.72|
|52 Week Range||11.52 - 20.07|
|Beta (3Y Monthly)||0.13|
|PE Ratio (TTM)||19.22|
|Forward Dividend & Yield||0.20 (1.20%)|
|1y Target Est||20.24|
Barrick Gold is looking for opportunities to grow its copper business through either exploration or acquisitions, according to its chief executive Mark Bristow. “Where we have opportunities to secure or expand our copper footprint, we will,” Mr Bristow told the Financial Times in an interview. Hailing copper as a “strategic” metal, Mr Bristow said he was already looking at some exciting copper projects in South America but was also prepared to consider acquisitions.
Barrick (GOLD) hikes dividend on the back of the robust Q3 performance and growth in cashflows. For 2019, it continues to anticipate gold production in the range of 5.1-5.6 million ounces.
(Bloomberg) -- Bullion giant Barrick Gold Corp. pleasantly surprised the market by raising its dividend 25%. Will the move portend a new era of largess from the normally tightfisted gold miners?There are certainly reasons for investors to be hopeful. Producers have been striving to cut costs and consolidate operations, while the price of gold has climbed over 20% in the past year to hover around $1,500 an ounce. Barrick’s move Wednesday was echoed a few hours later when Canadian rival Kirkland Lake Gold Ltd. raised its quarterly payout 50%. B2Gold Corp. preceded both by announcing its first-ever dividend a day earlier.“The companies are positioned to start to pay dividends and give more back to shareholders,” Joe Foster, a portfolio manager and strategist at VanEck, said by phone Wednesday. “It happens to coincide with the rising gold price, so you’re getting to see more aggressive moves on the dividends front than we would have seen if gold was $100 or $200 lower.”Gold miners trimmed costs following the sharp decline of the metal’s price toward the start of the decade. Barrick and B2Gold are both expecting costs this year to come in at or below the lower end of company guidance.Barrick rose Wednesday in New York trading, ending the day up 2.2%. The shares were down 0.4% at 9:24 a.m. pre-market on Thursday as gold prices fell. Kirkland Lake gained 2.8% in Toronto Wednesday, while B2Gold climbed 4%.Not all producers have embraced increased payouts this earnings season. On Tuesday Newmont Goldcorp Corp., the world’s largest gold producer, held its dividend steady as it grapples with integrating problematic assets acquired in its mega-merger with Goldcorp Inc.In an interview after assuming the role of chief executive officer Oct. 1, Newmont’s Tom Palmer used a common phrase in the gold industry: capital allocation discipline. For Palmer, that means the first focus will be paying down debt, then funding projects, and finally increasing dividends.A disciplined approach should continue to translate to shareholder returns, says Stephen Walker, RBC Capital Markets’ head of global mining research.“Shareholders have been asking companies to be more disciplined,” Walker said by phone Wednesday. “The ability to return a portion of excess capital to shareholders” is evidence of their improved cost performance, he said.(Updates with shares in fifth paragraph.)To contact the reporter on this story: Justina Vasquez in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Steven Frank, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Barrick Gold Corp.’s chief said there’s a logic to combining with Freeport-McMoran Inc. as a way to expand into copper, but isn’t committing to any deals yet.A tie-up with Freeport could bolster Barrick’s U.S. presence, where it already operates gold mines in Nevada, said Chief Executive Officer Mark Bristow, who cautioned that it’s not something currently being considered.“Everyone has been fingered as a potential suitor of Freeport,” said Bristow, when asked if he was interested in a combination. “There’s a bit of work for us to do before we can get our head around broadening our scope.”Freeport has long been seen as a takeover target for mining majors such as Rio Tinto Group and BHP Group. The biggest miners are all bullish on copper because it’s crucial for the electrification of transport and cities, but supplies look constrained in the long term.Freeport CEO Richard Adkerson said last year that any strategic move is possible, including acquisitions, partnerships, or even a full sale. The company operates several open-pit copper mines in North America, as well as the giant Grasberg project in Indonesia.Tier-One CopperBristow has previously expressed an interest in buying copper assets because the two metals are often mined together. While Barrick, the world’s second-largest gold producer, already has some copper assets, they’re lower in quality compared with other major mining companies.“I’ve raised the flag up the pole on copper,” Bristow said in an interview in London. “If there is a strategic metal, it’s copper. If you believe in electrification, copper is the metal and copper comes with gold.”“For me, it’s all about tier-one assets,” he added.Bristow, who took the top job this year, already has a track record of bold M&A moves in his short tenure at Barrick. After making a failed hostile bid for Newmont Mining Corp. in February, he stitched together a joint venture to combine their giant Nevada gold projects.Barrick shares rose 2% on Wednesday after the company reported better-than-expected profit and raised its dividend. Third-quarter adjusted earnings were 15 cents a share, compared with the average analyst estimate of 11 cents. The miner also said it’s on schedule with plans to sell $1.5 billion of non-core assets by the end of next year.To contact the reporter on this story: Thomas Biesheuvel in London at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Canada's main stock index edged higher on Wednesday, helped by an upbeat earnings report from Barrick Gold that bolstered mining stocks, while losses in energy shares kept a check on further gains. * At 09:43 a.m. ET (1443 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was up 21.52 points, or 0.13%, at 16,703.44. * The materials sector added 0.4% as Barrick Gold Corp jumped 3% after beating quarterly profit estimates and raising its dividend payout, benefiting from higher production and better gold prices.
Barrick Gold (GOLD) delivered earnings and revenue surprises of 50.00% and 2.22%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
The miner said full-year earnings are likely to be at the higher end of the range it had forecast, while costs will be at the low end.
BENGALURU/LONDON (Reuters) - Barrick Gold Corp on Wednesday reported higher third-quarter profits that beat analysts' estimates and raised its dividend while reiterating a five-year production plan. The world's second largest gold producer also said it would be at the top end of its production targets for the year and the lower end of cost estimates. In its five-year plan, Barrick plans to mine 5.1-5.6 million ounces of gold annually at an all-in-sustaining cost of at between $850-$950 per ounce.
BENGALURU/LONDON, Nov 6 (Reuters) - Barrick Gold Corp on Wednesday reported higher third-quarter profits that beat analysts' estimates and raised its dividend while reiterating a five-year production plan. The world's second largest gold producer also said it would be at the top end of its production targets for the year and the lower end of cost estimates. In its five-year plan, Barrick plans to mine 5.1-5.6 million ounces of gold annually at an all-in-sustaining cost of at between $850-$950 per ounce.
All amounts expressed in US dollars unless otherwise indicated. LONDON, Nov. 06, 2019 -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today posted its third strong quarter in.
All amounts expressed in US dollars LONDON, Nov. 06, 2019 -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that its Board of Directors has declared a dividend.
Barrick Gold raised its dividend on Wednesday as quarterly earnings topped market expectations on the back of higher gold prices. , which has seen its annual production decline from more than 8m ounces a decade ago.
How far off is Barrick Gold Corporation (TSE:ABX) from its intrinsic value? Using the most recent financial data...
Operations at Hemlo are being modernized and refocused to secure the gold mine’s continued viability, Barrick Gold Corporation (GOLD) (ABX.TO) announced today. Several programs have been introduced to improve its performance and the next step will be to phase out the open pit operation and move to an underground contract mining model. The objective is to upgrade Hemlo to a Barrick Tier 2 asset and extend its Life of Mine well into the future.
Barrick Gold (GOLD) 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.
TSX: "ABX") as joint venture partner and a second major gold producer, Resolute Mining Limited (ASX/LSE: "RSG"), as a 27% shareholder, is pleased to announce the appointment of Peter Cowley as President of the Company and Minecon Resources and Services Limited as geological consultants. Mr. Cowley is a geologist with over 40 years’ experience in the minerals industry and a history of major exploration successes in Africa, including the DRC.
The successful two-decade partnership between the government of Mali and Randgold (now Barrick Gold Corporation (GOLD)(ABX.TO)) has made the gold mining industry one of the key drivers of the country’s economy, Barrick president and chief executive Mark Bristow said here today. Briefing local media on the Loulo-Gounkoto complex’s current performance, Bristow said Barrick was committed to further investment in Mali.