ABX.TO - Barrick Gold Corporation

Toronto - Toronto Delayed Price. Currency in CAD
22.85
+0.23 (+1.02%)
At close: 4:00PM EDT
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Previous Close22.62
Open23.06
Bid22.88 x 0
Ask22.89 x 0
Day's Range22.60 - 23.06
52 Week Range13.16 - 26.69
Volume6,523,268
Avg. Volume5,313,955
Market Cap40.049B
Beta (3Y Monthly)-0.75
PE Ratio (TTM)N/A
EPS (TTM)-0.89
Earnings DateFeb 12, 2019 - Feb 18, 2019
Forward Dividend & Yield0.21 (0.95%)
Ex-Dividend Date2019-08-29
1y Target Est13.81
  • Reuters

    UK court approves Barrick Gold's takeover of Acacia

    The approval comes after London-listed Acacia agreed in July to a sweetened offer from its parent Barrick, a deal that raised expectations that Acacia's long-running tax dispute with the Tanzanian government would finally come to an end. Acacia has been battling regulatory problems in Tanzania, with the government slapping the company with a $190 billion tax bill - later reduced to $300 million in a 2017 agreement. Barrick has taken the lead in the negotiations.

  • Reuters

    UPDATE 1-UK court approves Barrick Gold's takeover of Acacia

    Canadian miner Barrick Gold has won approval from a British court for its $1.2 billion takeover of Acacia Mining, the African gold miner said on Friday, removing the last hurdle to the conclusion of the deal. The approval comes after London-listed Acacia agreed in July to a sweetened offer from its parent Barrick, a deal that raised expectations that Acacia's long-running tax dispute with the Tanzanian government would finally come to an end. Acacia has been battling regulatory problems in Tanzania, with the government slapping the company with a $190 billion tax bill - later reduced to $300 million in a 2017 agreement.

  • ACCESSWIRE

    Barrick Gold Corporation Announces Court sanction of the Scheme

    TORONTO, ON / ACCESSWIRE / September 13, 2019 / On 19 July 2019, the Boards of Acacia Mining plc ("Acacia") and Barrick Gold Corporation (GOLD) (ABX.TO)("Barrick") announced that they had reached agreement on the terms of a recommended offer by Barrick for the ordinary share capital of Acacia that Barrick does not already own (the "Acquisition"), to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The scheme circular was published by Acacia on 12 August 2019 (the "Scheme Document") and the Scheme was approved by the Scheme Shareholders at the Court Meeting on 3 September 2019.

  • GlobeNewswire

    Recommended Share Offer for Acacia Mining plc by Barrick Gold Corporation

    On 19 July 2019, the Boards of Acacia Mining plc ("Acacia") and Barrick Gold Corporation ("Barrick") announced that they had reached agreement on the terms of a recommended offer by Barrick for the ordinary share capital of Acacia that Barrick does not already own (the "Acquisition"), to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The scheme circular was published by Acacia on 12 August 2019 (the "Scheme Document") and the Scheme was approved by the Scheme Shareholders at the Court Meeting on 3 September 2019.

  • GuruFocus.com

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  • Be Careful With Kinross Gold Stock
    InvestorPlace

    Be Careful With Kinross Gold Stock

    It's been a nice run for Kinross Gold (NYSE:KGC) stock of late. Kinross Gold stock has gained 60% in a little over four months. And, it touched a three-year high earlier this month.Source: Shutterstock It's certainly possible the run could continue. Gold prices, too, have hit multi-year highs. Those higher prices can help near-term profits -- and the rally in yellow metal could continue amid worldwide recession fears.Kinross has several projects in development, which will boost production and revenue going forward. And valuation is reasonable, at roughly 7x 2019 earnings before interest, taxes, debt and amortization and 17x 2020 earnings per share estimates.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat said, there are risks. And one of the biggest is that we've been here before. The Case for Kinross Gold StockThe core reason why KGC stock has rallied of late is that higher gold prices have boosted the entire sector. In fact, other gold stocks have moved even higher. Eldorado Gold (NYSE:EGO) has been the biggest winner, more than tripling from late May to early September.But gold prices aside, there is a decent case for KGC stock. First-half results keep the company right on pace to meet 2019 guidance. Production should increase going forward, thanks to development efforts in Alaska, Russia and Nevada. * 10 Stocks to Sell in Market-Cursed September And the higher gold prices could lead a restart of operations in Chile. Kinross idled its mine in La Coipa in 2013, and is undertaking feasibility studies at its Lobo-Marte operation. With gold above $1,450 an ounce, both properties are almost certain to be profitable: The company estimated a 20% internal rate of return from La Coipa earlier this year.Those developments, along with ongoing operational improvements, should help Kinross lower its all-in sustaining costs. According to a recent investor presentation, Kinross' all-in sustaining costs are solid. But at nearly $1,000 an ounce, it's hardly spectacular on a peer basis.That figure can, and should, come down. And the increased gap between realized prices and all-in costs suggests higher profitability going forward -- and potentially an increased KGC stock price. The Gold Price RiskThat said, Kinross Gold stock has faded of late, dropping 9% in the last four sessions. The culprit is the same gold price that helped spark the recent rally.With gold just off a six-year high, the most obvious risk to KGC stock is that gold prices recede. The rally seems to have been driven by fears about rising geopolitical and economic risks.But the rally also has come in the face of two trends that are generally negative for gold: low inflation and a strong dollar. While the correlation of gold to inflation isn't as tight as conventional wisdom might suggest, that conventional wisdom alone often boosts prices.And so there's a risk that the big move in gold -- which has gained 16% in just four months -- could reverse. Should that happen, Kinross Gold stock is almost certain to fall. The Miner RiskBut there's another worry. This year, gold stocks like KGC stock have outperformed the big move in gold -- which is how miners should trade in theory.After all, miners are leveraged bets on gold prices. The roughly $200 move in gold over the past four months is a 16% increase. But it nearly doubles Kinross Gold's potential profitability.That leaves two obvious near-term risks. The first is that the converse is true: If gold does fall, KGC stock should fall even further, at least in theory.The second is that miners like Kinross Gold historically have done a terrible job of realizing that theoretical upside. Barrick Gold (NYSE:GOLD) has been one of the worst offenders, as I wrote last year. But it's far from the only one.Even KGC stock has badly underperformed gold over the past decade. Gold prices, as measured the SPDR Gold Trust (NYSEARCA:GLD), have risen 31%. Kinross Gold stock has declined 74%. That's worse than other miners, who haven't done well either. The VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) is down 41%, and the VanEck Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ) 63%.Perhaps this time is different. Investors certainly believe so, as KGC has significantly outperformed gold over the past year. The big rally of late has allowed the stock to do so on a three- and five-year basis as well.But we've been here before. When gold spikes, gold mining stocks tend to rise sharply. The history of the sector over the past decade, however, is that miners eventually give back those gains, and then some. Kinross Gold stock, which hit a 14-year low in 2016, hasn't been immune. Is KGC Stock the Best Play?Finally, there's the question of whether Kinross Gold stock necessarily is the best play. Again, the case is intriguing, thanks to ongoing efficiency improvements and development opportunities.But for investors willing to bet on gold prices and gold miners, there are strong cases elsewhere, too. The merger of Randgold Resources and Barrick created a behemoth with massive scale, a better CEO, and industry-leading cash costs. Gold bulls also can look to juniors, who might be acquisition targets as industry optimism grows.Seabridge Gold (NYSE:SA), for instance, has limited geopolitical risk (its mines all are in North America) and a $869 million market cap that would be an easy, but still material, acquisition for gold majors. Streaming plays like Sandstorm Gold (NYSE:SAND) and Royal Gold (NASDAQ:RGLD) offer leverage to gold prices without execution risk.And, of course, investors can just buy gold, whether physically or through the GLD ETF. Given the industry's history -- which too often has shown a focus on rewarding executives, not shareholders -- investors looking for safety are better off going the direct route.Again, this time may be different for Kinross Gold. If gold prices hold up, and if Kinross executes, there's plenty of potential upside ahead for KGC stock. The problem, as history shows, is that those are both big "ifs."As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post Be Careful With Kinross Gold Stock appeared first on InvestorPlace.

  • GlobeNewswire

    Barrick Announces Monetization of Investment in Royal Road Minerals Limited

    ALL AMOUNTS EXPRESSED IN CANADIAN DOLLARS UNLESS OTHERWISE INDICATED TORONTO, Sept. 10, 2019 -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) announced today that it sold.

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    Motley Fool

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  • Mobius and Powell: Why Gold Prices Could Soar
    Market Realist

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    On September 6, in an interview with CNBC, Mark Mobius advised investors to accumulate gold. According to Mobius, gold prices will have more upside.

  • Why These 4 Gold Stocks Soared as Much as 19% in August
    Motley Fool

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    Wheaton Precious Metals: A Gold Stock to Avoid for Now

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  • Reuters

    Zambia mining firms say mineral royalties should be capped at 7.5%

    Zambia should keep mineral royalties capped at 7.5% in the 2020 budget to safeguard the health of the mining sector and promote additional investment, the Chamber of Mines said on Tuesday. The mining body said in proposals submitted to the finance ministry that the 2019 mining tax regime had raised the tax burden on mines to unsustainable and uncompetitive levels. "If the 1.5% increment on each band of the sliding scale is to be maintained, the maximum rate should be capped at 7.5%, for an LME copper price equalling or exceeding US$7,500/tonne," the Chamber of Mines said.

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  • GlobeNewswire

    Senator Cortez Masto Meets with Nevada Gold Mines Leadership

    In a scheduled visit to rural Nevada to engage with stakeholders and communities, United States Senator Catherine Cortez Masto visited the Nevada Gold Mines (NGM) headquarters in Elko today, meeting with senior leadership and employees. Senator Cortez Masto shared her condolences and talked with employees about the tragic bus accident on Saturday.

  • How to Invest in Gold Mining Stocks
    Motley Fool

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  • Barrick Gold Corporation (GOLD) Q2 2019 Earnings Call Transcript
    Motley Fool

    Barrick Gold Corporation (GOLD) Q2 2019 Earnings Call Transcript

    GOLD earnings call for the period ending June 30, 2019.

  • Reuters

    Mali's new mining code ends tax exemptions, other protections

    Mining companies operating in Mali will no longer be exempt from VAT during production and will have a shorter period of protection from fiscal changes, according to a new mining code announced by the Mines Ministry on Wednesday. The new code seeks to redress the "shortcomings" of a 2012 law by bringing a "substantial increase" in the contribution of the mining sector to the economy, the Mines Ministry said in a statement. The new code in Mali, Africa's third largest gold producer, shortens the "stability period" during which mining companies' existing investments are protected from changes to fiscal and customs regimes.

  • Is This The Number One Gold Play Of The Year?
    Oilprice.com

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    One small company has just uncovered a billion-dollar gold find amidst one of the world’s largest mineral belts in West Africa

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    Oilprice.com

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  • ACCESSWIRE

    Barrick Gold Corporation Announces Form 8 dealings disclosure

    TORONTO, ON / ACCESSWIRE / August 16, 2019 / Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) FORM 8 (DD) PUBLIC DEALING DISCLOSURE BY A PARTY TO AN OFFER OR PERSON ACTING IN CONCERT (INCLUDING DEALINGS ...

  • Thomson Reuters StreetEvents

    Edited Transcript of ABX.TO earnings conference call or presentation 12-Aug-19 3:00pm GMT

    Q2 2019 Barrick Gold Corp Earnings Call

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