|Bid||0.00 x 1200|
|Ask||0.00 x 28000|
|Day's Range||12.81 - 12.96|
|52 Week Range||11.07 - 18.35|
|PE Ratio (TTM)||16.31|
|Forward Dividend & Yield||0.12 (0.89%)|
|1y Target Est||15.57|
Barrick's (ABX) Q2 gold production figures are roughly in line with Q1 while AISC is expected to increase 5-7%. Also, the company lowers 2018 copper production view.
Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia. Barrick, which looks likely to lose its rank as the world's biggest gold producer this year, maintained its 2018 output estimate of between 4.5 million and 5 million ounces of gold at all-in sustaining costs of $765 to $815 an ounce. Rival Newmont Mining Corp has said it expects to produce between 4.9 and 5.4 million ounces of gold in 2018.
The average market price for gold in the second quarter was $1,306 per ounce, while the average market price for copper was $3.12 per pound. Preliminary second quarter gold production of 1.07 million ounces was roughly in line with the first quarter of the year. Second quarter gold cost of sales per ounce1 is expected to be slightly higher quarter-over-quarter, with cash costs per ounce2 and all-in sustaining costs per ounce2 approximately 5-7 percent higher than the first quarter.
Barrick Gold's (ABX) latest deal with Shandong Gold will enable the companies to jointly explore opportunities and boost long-term value.
WallStEquities.com shifts focus on Gold, whose prices are influenced by numerous variables that include fabricator demand, expected inflation,return on assets,and central bank demand. Gold is strongly pegged to supply-and-demand patterns. In this morning's lineup are these four stocks: Alamos Gold Inc. (NYSE: AGI), AngloGold Ashanti Ltd (NYSE: AU), B2Gold Corp. (NYSE AMER: BTG), and Barrick Gold Corp. (NYSE: ABX).
Gold went on a bit of a roller coaster ride in 2017. Gold prices bounced between highs and lows from month to month in a trading range of roughly $1,200 to $1,300 per ounce before breaking out to a yearly high of nearly $1,350 per ounce in September. The SPDR Gold Shares ETF ( GLD), the SPDR ETF that tracks gold bullion, returned 12.81% in 2017. The precious metal trades at around $1,258 per ounce as of July 9, 2018. The precious metal has traditionally been perceived as a safe haven investment in times of economic uncertainty – and no one can argue that major shakeups such as Brexit, Donald Trump's presidency, skepticism about a resolution on the Korean peninsula and volatility in the cryptocurrency market have contributed to a general feeling of unpredictability.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? Among the senior mining companies under review in this series (GDX), Newmont Mining (NEM) is currently trading at the highest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 8.0x. Goldcorp (GG) has the second-highest multiple at 7.4x, representing a premium of 18% to its peers. GG’s historical premium has, however, fallen.
Barrick said it had signed an “enhanced strategic cooperation” agreement with the Chinese miner on Monday following its acquisition of half of Barrick’s Veladero mine in Argentina last year. “The Parties have agreed to consider opportunities to work together on acquisition opportunities or potential asset sales, if both parties agree it is in their collective best interests, and would enhance the value of such an opportunity,” Barrick said. The tie-up is the latest initiative of Barrick’s Chairman John Thornton, a former Goldman Sachs banker who has close links to China.
As far as it goes, Goldcorp (NYSE:GG) probably isn’t the worst stock in the market. In fact, GG stock might actually be one of the better plays in the gold mining space. As I wrote in April, the gold mining space has been a disaster for investors over the past few years.
Barrick Gold Corporation (ABX) (ABX.TO) (“Barrick” or the “Company”) today announced that it has entered into an enhanced strategic cooperation agreement with Shandong Gold Group Co., Ltd. (“Shandong Gold”1), deepening Barrick’s partnership with one of China’s leading mining companies. The document builds on an earlier agreement signed between the two companies in April 2017, when Shandong Gold Mining Co., Ltd., acquired 50 percent of Barrick’s Veladero mine in Argentina. “Over the past year, we have been laying the foundation for a distinctive, enduring, and trust-based relationship with Shandong Gold,” said Barrick Executive Chairman John L. Thornton.
As the Fed’s June 12–13 meeting minutes were released yesterday, the US dollar softened, giving buoyancy to precious metals, which are dollar-denominated assets. With a cheaper US dollar, the assets are more affordable for foreign buyers and their demand surges.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? Barrick Gold’s (ABX) 2017 underperformance has extended well into 2018. Barrick stock fell 9.3% in the first half of 2018 compared to the fall of 4% in the VanEck Vectors Gold Miners ETF (GDX).
Newmont's (NEM) Twin Creeks Underground expansion project will add 30,000-40,000 ounces of gold per annum at all-in sustaining costs of $650-$750 per ounce.
LONDON, UK / ACCESSWIRE / July 5, 2018 / Active-Investors free stock reports for this morning include these Toronto Exchanges' equities from the Metals & Mining industry: Barrick Gold, B2Gold, Goldcorp, and HudBay Minerals. The TSX Venture Exchange shaved off 1.82 points, or 0.25%, to finish at 738.75. Today's stocks of interest consist of: Barrick Gold Corporation (TSX: ABX), B2Gold Corporation (TSX: BTO), Goldcorp Inc. (TSX: G), and HudBay Minerals Inc. (TSX: HBM).
Most precious metals and their related mining companies have witnessed a choppy market in most of 2018, thanks to slumping precious metal prices. Precious metals are more closely associated with the downturn in these precious metals rather than the overall sentiment of the equity markets.
Mining has resumed and power has been restored at the Porgera gold mine in Papua New Guinea's remote highlands run by Barrick Gold Co, four months after an earthquake disrupted production, the mine's operator said. "The mine has resumed full operations and power has been restored," Barrick (Niugini) Ltd, which operates the mine on behalf of co-owners Barrick and China's Zijin Mining Group Co Ltd, said in a statement. A deadly earthquake struck Papua New Guinea's remote highlands on Feb. 26, killing 100 people and knocking out the power plant that supplied the Porgera mine, which is some 600 km (370 miles) northwest of the country's capital, Port Moresby.
Barrick Gold Corporation (ABX) (ABX.TO) (“Barrick” or the “Company”) today provided an update on ongoing discussions with the Government of Tanzania concerning the proposed framework for Acacia Mining plc's (“Acacia”) operations in Tanzania. Discussions between the Government of Tanzania and Barrick are constructive. In order to allow the process to continue in an orderly manner and without an arbitrary deadline, Barrick is not providing a timetable for the completion of the discussions at this time.
Barrick Gold Corporation (TSX:ABX) is trading with a trailing P/E of 16.2x, which is higher than the industry average of 11.2x. Although some investors may jump to the conclusion thatRead More...
According to the consensus compiled by Thomson Reuters, 22 analysts are currently covering Barrick Gold (ABX), of which only 18% have recommended “buys” on the stock. This is the lowest percentage of “buy” recommendations among senior miner stocks (GDX). Meanwhile, 68% of analysts have recommended “holds” on Barrick, and 14% have recommended “sells.” Its target price of $15.8 implies an upside of 19.3% based on its current market price.
Jim Cramer rattles off his take on callers' favorite stocks, including his take on how investors should approach the gold market.