|Bid||0.00 x 64300|
|Ask||0.00 x 30200|
|Day's Range||6,546.00 - 6,862.00|
|52 Week Range||4,607.00 - 7,128.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||25.37|
|Earnings Date||Feb 4, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||85.49|
CNBC's "Squawk on the Street" team breaks down the details of the Newmont-Goldcorp $10 billion deal. The deal will create the world’s biggest gold producer by output. It is the second high-profile merger in the mining industry since Barrick Gold agreed...
Barrick Gold Corp. (GOLD) fell 4.11% to $12.82 per share on the New York Stock Exchange on Wednesday after the release of disappointing results for the final quarter of 2018 that ended Dec. 31. Before the opening bell the Canadian gold producer reported a 73% year-over-year decrease in non-GAAP earnings to 6 cents per share, a nearly 15% year-over-year decline in revenues to $1.9 billion and a 5.9% decrease in gold production to 1.262 million ounces. Warning! GuruFocus has detected 6 Warning Signs with GOLD.
Barrick Gold favors a partnership with rival Newmont Mining to combine ore processing operations at some gold mines in Nevada, Barrick CEO Mark Bristow said in an interview.
“John really drove this business on multiple fronts, but his primary focus was the debt,” Barrick CEO Bristow said Wednesday in an interview at Bloomberg’s Toronto office, referring to the miner’s executive chairman, John Thornton. Last year, Barrick backed away from a goal, announced in 2016, of reducing all-in sustaining costs to $700 an ounce, citing inflation and falling production as headwinds. Now that Barrick has completed its $5.4 billion merger with Randgold Resources Ltd., Bristow said there is “every indication” that the new company’s costs can move toward that goal.
Barrick Gold’s net loss widened in the fourth quarter as it recorded impairments and saw sales fell amid weaker gold production and selling prices.
The cost guidance “primarily reflects the planned completion of mining at the comparatively high-grade, low-cost Cortez Hills open pit in the first half of the year,” Barrick said Wednesday in a statement, referring to one its operations in Nevada. The Toronto-based miner provided the first nitty-gritty glimpse of what production and costs are expected to look like for the combined company. Last year, Barrick backed away from a $700 goal announced in 2016, citing inflation and falling production as headwinds.
Barrick Gold Corp, the world's largest publicly traded gold producer, said on Wednesday its quarterly loss widened due in part to an impairment charge and rise in production costs. The company, which closed ...
All amounts expressed in U.S. dollars unless otherwise indicated Completed transformational merger with Randgold Resources Limited to create industry-leading gold company,.
All financial numbers are in US dollars ($) unless otherwise stated On 22 January 2019, Randgold Resources Limited (‘Randgold’) changed its name to Barrick Gold (Holdings).
, the world’s largest gold miner, said it made a net loss of $1.2bn in the fourth quarter of 2018 before its merger with London rival Randgold Resources. The Canadian miner said the loss was due to a $900m impairment charge relating to its Veladero and Lagunas Norte mines in South America, as well as reduced gold output at Acacia Mining, which remains locked in a dispute with the government of Tanzania. The results highlight some of the motivation behind the merger with Randgold, which was orchestrated by Barrick’s executive chairman John Thornton.
What to Look For in Barrick Gold’s Q4 EarningsBarrick Gold’s merger with Randgold Barrick Gold (GOLD) announced its merger with Randgold Resources on September 24. Due to the perceived synergies, both the stocks gained after the news. Between the
Acacia Mining beat forecasts on Monday with figures for its production and costs in 2018 that lifted the gold miner back into profit, but the company is still grappling with a long-running tax dispute in Tanzania where it operates all its mines. Shares in Acacia, majority owned by Barrick Gold Corp , were steady while the rest of the market rose, finding little impetus despite reporting gold output of 521,980 ounces at a cost of $905 per ounce. "Financials for Acacia remain somewhat of a sideshow due to the ongoing negotiations between parent Barrick and the government of Tanzania," said RBC analyst James Bell.
with the Tanzanian government were moving “in the right direction”. Revenues fell 12 per cent as a result of lower gold sales. Acacia’s three mines are all in north-west Tanzania and it is the country’s leading gold producer.
Tailings dams are also in the spotlight, after Vale SA’s disaster in Brazil. Highlights from Tuesday:AngloGold’s CEO suggested the company may provide an update on plans to streamline its assets when it reports annual results this month.Barrick chief Mark Bristow said the industry needs to change its mindset on “instant gratification.” Anglo Platinum’s CEO predicted palladium will remain in deficit for 10 to 15 years. South African President Cyril Ramaphosa emphasized support for the mining sector and said he wants to avoid a return to strained relations between the government and industry.
CAPE TOWN/LONDON (Reuters) - The wave of consolidation sweeping the gold mining sector is for now passing the wider sector by as diversified majors have delivered returns to keep shareholders happy and investors are wary of repeating past mistakes, executives said. Newmont Mining Corp said in January it would buy Goldcorp Inc, for $10 billion (8 billion pounds), creating the world's biggest gold producer. The merger following Barrick Gold Corp's agreement in September to buy Randgold Resources Ltd in a deal valued at $6.1 billion.
There will be “no more debate” on the new mining code in the Democratic Republic of Congo, according to the country’s secretary-general of mining. Speaking at the Investing in Africa Mining Indaba in Cape Town on Tuesday, Joseph Ikoli said the Ministry of Mines could not negotiate on the code because it had been approved by parliament and was now law.
For more than half a decade, gold miners have been stuck in the doldrums, shunned by investors following a string of missteps and bogged down by a stagnant bullion price. Barrick Gold Corp.’s $5.4 billion purchase of Randgold Resources Ltd. set off a chain reaction that led to Newmont Mining Corp.’s $10 billion deal for Canada’s Goldcorp Inc. last month. “It’s an exciting time to be a gold miner,” said Martin Horgan, the chief executive officer of Toro Gold, who arrived in Cape Town this weekend.
The Kibali gold mine produced 807,2511 ounces of gold in 2018, above its target of 750,000 ounces and 35% higher than its output the previous year. Barrick president and chief executive Mark Bristow told a media briefing here today that the record production was driven by the shaft operating at nameplate specification and the optimization of the underground materials handling system which has placed Kibali at the leading edge of gold mine automation in Africa. Bristow said the mine continued to offset the impact of its operations through environmental projects such as the 10,130 indigenous trees planted on the site last year, as well as biodiversity initiatives.
The Loulo-Gounkoto complex in Mali posted a fourth consecutive quarterly improvement in gold production, despite an illegal work stoppage that caused it to miss its full year production guidance of 690,000 ounces by four percent. Speaking at a briefing here for local media, Barrick President and Chief Executive Mark Bristow noted that the complex, which ranks among the recently-merged Barrick/Randgold group’s Tier One1 assets, was continuing to invest in its future by exploring for additional reserves and upgrading plant and equipment. “A preliminary economic assessment of the Loulo 3 open pit and underground project has been completed and drilling continues to expand the area of high-grade mineralization south of the Yalea orebody. Exploration of the Faraba structure on the Gounkoto permit has shown the potential for multiple zones of mineralization to be extended,” Bristow said.
Today Barrick Gold Corporation (GOLD)(ABX.TO) (“Barrick” or the “Company”) announced preliminary full year gold production of 4.53 million ounces for 2018, in line with the Company’s guidance of 4.5-5.0 million ounces, and preliminary full year gold sales of 4.54 million ounces. Preliminary fourth quarter gold production was 1.26 million ounces, and preliminary fourth quarter gold sales were 1.23 million ounces. The average market price for gold in the fourth quarter was $1,226 per ounce.
Both Barrick and Newmont have made big acquisitions and their shares offer an opportunity to profit when the metal regains its luster.
Gold should be considered an "insurance policy" for investors to hedge their portfolio against economic uncertainty and market volatility, Cramer said during his daily "Mad Money" show. Investors with sufficient cash on hand to buy and store physical gold bars at around $1,255 per ounce should do so, Cramer said.