13.50 +0.01 (0.07%)
After hours: 7:50PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||13.16 - 13.53|
|52 Week Range||11.07 - 18.35|
|PE Ratio (TTM)||10.97|
|Forward Dividend & Yield||0.12 (0.93%)|
|1y Target Est||15.96|
First, however, I want to point out why neither precious metals or stocks like NEM stock are good for much other than as trading vehicles. The problem with gold and other precious metals is that their prices move based on factors that have nothing to do with earnings growth. Sure, mining companies do move with respect to earnings growth, but the underlying metals obviously don’t have earnings power.
Production growth is an important variable for miners. Barrick Gold (ABX) produced ~1.1 million ounces of gold in 1Q18, which reflects a decline of ~20% YoY (year-over-year). Barrick Gold has maintained its production guidance of 4.5 million–5 million ounces of gold in 2018, which implies a decline of ~11% compared to actual production in 2017 as measured at the midpoint.
Barrick Gold (ABX) reported its 1Q18 results on April 23 after the market closed. It held a conference call the next day. It reported EPS (earnings per share) of $0.15, which represented a beat of $0.01 on consensus expectations. However, it missed on revenues by ~$50 million, reporting a top line of $1.8 billion. It maintained its production and unit costs for 2018.
TORONTO, April 24, 2018-- Barrick Gold Corporation today announced that its Board of Directors has declared a dividend for the quarter of U.S. 3 cents per share, payable on June 15, 2018, to shareholders ...
TORONTO, April 24, 2018-- Barrick Gold Corporation announced that the nominees listed in the information circular for the 2018 Annual Meeting of Shareholders were elected as directors of Barrick. Detailed ...
The recent unrest in the markets has had a significant effect on precious metals and mining companies. The US dollar has a prominent role in influencing dollar-denominated precious metals and mining stocks.
NEW YORK, NY / ACCESSWIRE / April 24, 2018 / Barrick Gold Corporation (NYSE: ABX ) will be discussing their earnings results in their Q1 Earnings Call to be held on April 24, 2018 at 8:00 AM Eastern Time. ...
Barrick Gold Corp said on Monday it was done selling assets to cut debt and would instead use funds from future sales for growth or to pay dividends, as it looks set to lose its rank as the world's biggest gold producer due to declining production. Toronto-based Barrick, which reported better-than-expected adjusted earnings, said its focus would increasingly be on growth from its own projects and operations in Nevada and the Dominican Republic. The miner also said it had suspended work on a prefeasibility study on its massive Pascua-Lama gold and silver project in the Andes Mountains, which does not meet its investment criteria.
Barrick Gold Corporation (NYSE:ABX) unveiled its latest quarterly earnings results late Monday, exceeding analysts’ expectations on the earnings front, while revenue missed estimates. On an adjusted basis, the company reported adjusted earnings of $170 million, or 15 cents per share, which topped the Wall Street consensus estimate of 14 cents per share, according to data compiled by Thomson Reuters. Barrick Gold’s revenue did not perform as well as the company’s earnings as it fell to $1.79 billion, a 10.1% drop compared to the year-ago quarter total of $1.99 billion.
Barrick Gold Corp, the world's largest gold miner by output, reported a 5 percent rise in first-quarter adjusted profit on Monday, primarily reflecting higher gold prices and lower depreciation. The Toronto-based ...
Barrick reported first quarter net earnings attributable to equity holders of $158 million, and adjusted net earnings 1 of $170 million. The Company reported first quarter revenues of $1.79 billion, net ...
Among the senior mining companies under review in this series (GDX), Agnico Eagle Mines (AEM) is trading at the highest EV-to-forward EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple, of 11.5x. As you can see in the graph below, AEM’s EBITDA margin is quite high. The company offers strong production growth, which is supported by a strong project pipeline.
Higher gold prices added shimmer to Canadian miner Barrick Gold’s earnings though lower output weighed on the company’s revenues. The company reported net income of $158m, or 14 cents a share, in the first ...
After significantly outperforming peers in 2017, Kinross Gold (KGC) has underperformed this year. Until As of 17, Kinross’s stock had given a negative return of 9.7%—the same as Barrick Gold (ABX). Kinross’s 4Q17 results came in below expectations.
After underperforming its peers in 2017, Goldcorp’s (GG) stock has outperformed YTD (year-to-date). It’s also one of the few major gold stocks to have recorded a positive return YTD performance of 12.5% as of April 17. In comparison, the VanEck Vectors Gold Miners ETF (GDX) has fallen 1.5% while the iShares Gold Trust (GLD) has gained 3.0%. Peers Barrick Gold (ABX), Kinross Gold (KGC), and Agnico Eagle Mines (AEM) have fallen.
Newmont Mining (NEM) is one of the very few gold mining stocks to have given a positive return year-to-date. As of April 17, it has returned 10.9%, compared to a loss of 1.5% for the VanEck Vectors Gold Miners ETF (GDX). Its strong project pipeline is the major driver behind its consistent-to-increasing production profile.
Barrick Gold (ABX) generated negative returns amounting to 9.7% year-to-date (or YTD) as of April 17. The stock has significantly underperformed its close peers Goldcorp (GG), Newmont Mining (NEM), and Agnico Eagle Mines (AEM), which returned 12.5%, 10.9%, and -1.9%, respectively. The VanEck Vectors Gold Miners ETF (GDX) returned -1.5%.
Examining Barrick Gold Corporation’s (TSX:ABX) past track record of performance is an insightful exercise for investors. It allows us to reflect on whether or not the company has met orRead More...
The past one month has been good for precious metals with the exception of platinum. Gold, silver, and palladium have increased a whopping 3%, 6.4%, and 4.4%, respectively, during the last 30 trading days. Platinum has dropped about 0.97% during the same timeframe.
We discussed analysts’ revenue estimates for gold miners in the previous part of this series. In this part, we’ll discuss what analysts expect for these gold miners’ (RING) earnings.
The International Monetary Fund (or IMF) also warned on April 18, 2018, that the unexpected rise in US inflation could cause significant global tensions, which could force central banks to respond firmly. It added that a hike in inflation in the US could lead the Federal Reserve to raise interest rates faster than expected. The director of the IMF’s monetary and capital markets department, Tobias Adrian, said, “What we are flagging is that at some point markets see shocks in inflation that raise inflation uncertainty and when that happens, that is associated with a rise in long-term interest rates and that might lead to a tightening in financial conditions.” While he said that the uncertainty regarding US inflation is very low, markets could have an outsized reaction to any spike.
Analyst estimates for gold miners’ (GDX) revenues can give us a good idea about their outlook on gold prices (GLD) as well as companies’ production growth. In this part of our series, we’ll assess analysts’ revenue expectations for gold companies in 1Q18 and beyond. Analysts expect Barrick Gold (ABX) to generate revenues of ~$1.84 billion in 1Q18.
On one hand, it has increased US growth projections due to the stimulus from tax cuts. Since these tax cuts are unfunded, the IMF believes that there will be a need for severe spending cuts in the coming years. It predicts that the US debt-to-GDP (gross domestic product) ratio will expand to 116.9% by 2023, surpassing Italy’s ratio, which should narrow to 116.6% by 2023.