GOLD - Barrick Gold Corporation

NYSE - NYSE Delayed Price. Currency in USD
19.72
+0.79 (+4.17%)
At close: 4:02PM EST
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Previous Close18.93
Open19.00
Bid19.65 x 21500
Ask19.71 x 4000
Day's Range18.93 - 19.73
52 Week Range11.65 - 20.07
Volume20,194,363
Avg. Volume10,999,421
Market Cap34.999B
Beta (5Y Monthly)0.08
PE Ratio (TTM)8.73
EPS (TTM)2.26
Earnings DateN/A
Forward Dividend & Yield0.28 (1.42%)
Ex-Dividend DateFeb 26, 2020
1y Target Est21.35
  • Gold Diggers Resist the Rally’s Lure
    Bloomberg

    Gold Diggers Resist the Rally’s Lure

    (Bloomberg Opinion) -- Bullion prices are at their highest in seven years, closing in on $1,600 an ounce. Gold held by exchange-traded funds is at all-time records and rising, thanks to worries over the economic damage inflicted by the coronavirus outbreak. Reserves, meanwhile, are depleting. It’s a heady mixture for miners, but perhaps not yet an intoxicating one.Take Polyus PJSC, Russia’s largest gold digger. The $17 billion company said last week that it would pay down debt before beginning to spend seriously on its $2.5 billion Sukhoi Log project, set to add 1.6 million ounces a year to supply. That’s quite a statement. This is one of the world’s lowest-cost producers, generating plenty of cash, holding one of most impressive untapped resources globally, at a time of rising prices. The mine promises significant extra output for a company that aims to produce 2.8 million ounces this year.  Even so, Polyus is resisting the urge to fast-track, with a roughly two-year  “transitional period” of planning before it begins in 2023.Granted, there are circumstances peculiar to Polyus that suggest conservative timing and financing is necessary. The miner is controlled by the son of Suleiman Kerimov, one of a handful of tycoons included in Washington’s 2018 sanctions list. A planned $900 million equity sale to Chinese conglomerate Fosun Group fell apart earlier that year, too. The project itself, meanwhile, is vast, and deep inside Russia, hardly a popular jurisdiction with foreign mining investors.Polyus’s conservative approach is noteworthy, nonetheless. This is an industry that has in general become far more cautious with big-bang projects after a string of boom-time efforts a decade ago, begun in haste and regretted at leisure. Barrick Gold Corp.’s Pascua Lama in South America started in 2000 as a $1.2 billion project; by the time it was shelved in 2013, the estimated cost had soared to $8.5 billion. Polyus learned its own lessons at its Natalka mine. It was trapped by falling prices in 2013 and construction eventually paused, before resuming in 2016. Certainly Sukhoi Log, first studied by Soviet geologists in the 1970s, comes with history and plenty of challenges. The size, at some 63 million ounces and as much of a quarter of Russia’s gold reserves, means it is the largest project on the industry’s horizon, by some way. For Polyus, it adds the equivalent of the annual output of its nearest rival, Polymetal International Plc. That gargantuan scale that leaves plenty of room for costs to spill over. There is processing to resolve, all on site, and transport logistics will be complex given the mine’s location. When I visited in 2012, the airport in the nearest settlement closed if it rained.But the geology isn’t unfamiliar to Polyus, already operating nearby. It will use conventional processing. And the miner’s overall expenses are low by global standards. Its all-in sustaining cost was $594 per ounce in 2019, against Barrick’s $894. That’s a substantial margin even if bullion prices sink to the $1,050 used in Polyus’s Sukhoi Log calculations. It’s all a far cry from the mood of the 2000s bull run, when gold shot up to $1,900 an ounce from $300 in just over a decade, and miners raced behind. The resulting value destruction was immense: Billions were spent on terrible projects and worse companies. A full 80% of the transaction value of the eight largest deals between 2001 and 2011 was impaired, according to a McKinsey & Co. study published last year. The industry’s return on capital between 2010 and 2016 was a pathetic 2.6%.With the gold price trending higher after a couple of years around $1,200 to $1,300, deals have come back, and cashflows are helping exploration budgets rise. It’s notable that M&A discussions are beginning to build in prices closer to $1,500 than the $1,200 or so of recent years. It’s exuberance that hasn’t quite fed through to mega projects.Polyus’s muddy knoll in bleak eastern Siberia has enough gold beneath it to rival behemoths like Grasberg, in Indonesia. As prices climb and buccaneering projects like Newcrest Mining Ltd. and Harmony Gold Mining Co.’s Wafi-Golpu in Papua New Guinea are  back in discussion, the question is whether Polyus sets a trend, or becomes the judicious exception. To contact the author of this story: Clara Ferreira Marques at cferreirama@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • The Interview That Should Terrify Owners of Freeport-McMoRan Stock
    InvestorPlace

    The Interview That Should Terrify Owners of Freeport-McMoRan Stock

    On paper, there's an intriguing bull case for miner Freeport-McMoRan (NYSE:FCX). Freeport-McMoRan stock looks cheap. Copper prices have dipped of late, but have at least one important long-term tailwind. And Freeport has steadily improved its balance sheet in recent years, cutting net debt by over $12 billion between the end of 2015 and the end of 2019.Source: MICHAEL A JACKSON FILMS / Shutterstock.com But the key phrase is "on paper." In practice, there's a huge stumbling block to the bull case for FCX stock. Even if Freeport-McMoRan can drive higher free cash flow, as bulls and the company itself project, there's a long-running concern as to where that cash flow is going to go.The answer, according to a recent interview with Freeport-McMoRan's chief executive officer, is not to shareholders. Given the history not just of Freeport but the entire mining industry, that's a significant problem.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Case for Freeport-McMoRan StockFCX stock already has been a solid investment in the last few years. Shares bottomed in January 2016 below $4, as pressure on the company's since-divested oil and gas assets weighed on the stock. From that bottom, Freeport-McMoRan stock has more than tripled -- and there's a case for more upside ahead. * 20 Stocks to Buy From the Law of Accelerating Returns After all, production should increase nicely in the next two years. After its fourth-quarter report last month, Freeport guided for copper sales to reach 3.5 billion pounds in 2020, up from 3.3 billion in 2019. In 2021, however, the figure should spike to 4.3 billion, as the Grasberg mine in Indonesia, of which FCX owns 49%, returns to normalized output after a shift to underground mining.From there, copper prices need to cooperate, and that's always a risk. Copper prices are notoriously sensitive to the global economy; the commodity has been nicknamed "Dr. Copper" for its ability to provide a leading indicator of macroeconomic strength. A poorly-timed recession -- or even continued softness in key markets in Asia -- could pressure prices and thus Freeport's earnings and cash flow.But there's one potential long-term driver for copper demand: electric vehicles. EVs are "copper hogs," meaning growth from the likes of Tesla (NASDAQ:TSLA) can boost copper prices. and those prices drop almost straight to Freeport's bottom line. It's not as if shares are expensive even in the current moderate-price environment; should copper spike higher from here, Freeport stock likely does the same. Balance Sheet and Cash FlowFinally, Freeport's balance sheet is in much better shape. As noted, debt has come down dramatically in a matter of years. The company has over $5 billion in liquidity, and a higher stock price if it wants to make an acquisition. If Freeport doesn't make a deal, free cash flow should impress -- particularly if copper prices rise.Indeed, with its fourth-quarter presentation, Freeport-McMoRan modeled solid free cash flow in a higher-price environment. At $3 per pound, up from a current ~$2.60, operating cash flow in 2021-2022 would be in the range of $5 billion.Capital expenditures currently estimated at $2.4 billion for 2021 suggest free cash flow around $2.6 billion. Put even a 10x multiple on that figure and FCX gains over 50%; increase the multiple, and the upside could be even higher. Where Does the Cash Go?To be sure, that paper case does require some help from copper prices. Models for 2021-2022 at $2.75 a pound suggest free cash flow under $2 billion. A market capitalization currently near $19 billion thus likely doesn't see that much upside without pricing help. But investors in mining stocks are looking for leveraged returns on gains the underlying commodity -- and on paper FCX stock is set up to provide precisely those returns if copper gains.But that gets to the practical problem, and the interview CEO Richard Adkerson gave to Reuters at the end of last month. Adkerson noted the potential for higher cash flow and a higher stock price which would allow the company to make acquisitions."I'm looking forward to having a new experience in my career toward accessing alternatives and deciding which way we go…We don't have a clear directive now on what that direction could be, but we will be attractively situated and will have an opportunity to add value through investments," he told Reuters.Those investments could include not just acquisitions but the construction of new mines.In other words, the incremental free cash flow Freeport-McMoRan hopes to drive isn't going back to shareholders. It's going back into the business under Adkerson's direction. And that should worry, if not terrify, FCX shareholders. Adkerson's HistoryAdkerson was named CEO on Dec. 10, 2003. Under his watch, Freeport-McMoRan stock has declined by 42%.There isn't an external reason for the pressure. Copper prices, according to data from YCharts, have increased 174% over that span. Meanwhile, diversified miner BHP Group (NYSE:BHP), which has significant copper holdings, has seen its stock more than triple. Including dividends, BHP has posted a total return of more than 450%. For Freeport-McMoRan stock, total returns remain modestly negative.One big reason for the decline was the aforementioned move into oil and gas, spearheaded by Adkerson. Freeport-McMoRan spent $20 billion on two acquisitions in 2012 at the height of the oil boom. The moves were instantly criticized by Wall Street and by investors; Freeport stock dropped 16% in a single day on the announcement. Allegations of self-dealing soon followed.Less than four years later, Freeport managed to get less than $4 billion for its assets at the nadir of the oil bust. Over $16 billion in shareholder value was destroyed.An investor might believe -- or want to believe -- that Adkerson and the Freeport board have learned their lesson from the disastrous acquisitions. There's no evidence they have.The Freeport-McMoRan dividend was slashed in 2014; the board hasn't hiked the payout since despite a paltry 1.6% yield and the expected growth in free cash flow. Adkerson, at least per his interview, is looking to spend more shareholder money after the company spent the last four years recovering from its foray into oil and gas.There are thus two scenarios here. Copper prices fall or stay roughly flat, and Freeport-McMoRan stock likely does the same. Or copper prices rise, giving Adkerson free reign to go and spend billions of dollars more of shareholder funds. Neither sounds particularly attractive. The Mining ProblemTo be somewhat fair, this is not a Freeport-only problem. As I detailed back in 2018, gold miners like Barrick Gold (NYSE:GOLD) have done a disastrous job of fulfilling their mission of providing leverage to the gold price. Barrick, Kinross Gold (NYSE:KGC) and AngloGold Ashanti (NYSE:AU) all saw their shares fall by over 60% even in a rising-price environment.Recent performance for mining stocks has been better, but it's still not as good as it should be in theory. Even the gains in Freeport stock over the last few years are more a case of the stock rallying sharply from 2016 lows than any real improvement on the ground. FCX stock actually is down 20% over the past three years despite basically flat copper prices. The Bottom Line on Freeport-McMoRan StockWhat makes a stock like FCX particularly problematic is that the exchange-traded fund revolution has created far better alternatives. An investor who is bullish on copper can simply buy copper through an ETF. She can lever up that bet through the use of margin or a 2x or 3x ETF. Those trades have risk if copper prices decline of course; so does FCX.But if copper prices rise, that investor doesn't have to let Adkerson determine what to do with her gains. ETFs do have fees, but they're generally minimal; meanwhile, Adkerson's pay packages from 2016 to 2018 alone totaled over $50 million, according to Freeport's most recent proxy statement.If Freeport-McMoRan and Adkerson truly had learned their lesson and were looking to use potentially higher cash flow for increased shareholder returns, that would be one thing. Clearly, they're not. History, and the -42% returns under Adkerson's 16-year tenure, both suggest that it is a real problem for Freeport-McMoRan stock.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 20 Stocks to Buy From the Law of Accelerating Returns * 10 Strong Lottery Ticket Stocks That Could Soar in 2020 * 7 U.S. Stocks to Buy on Coronavirus Weakness The post The Interview That Should Terrify Owners of Freeport-McMoRan Stock appeared first on InvestorPlace.

  • Why You Should Buy Barrick Gold Corp
    GuruFocus.com

    Why You Should Buy Barrick Gold Corp

    The North American gold giant holds great potential for future growth Continue reading...

  • Barrick's (GOLD) Earnings and Sales Surpass Estimates in Q4
    Zacks

    Barrick's (GOLD) Earnings and Sales Surpass Estimates in Q4

    Barrick's (GOLD) Q4 results gain from higher production and gold prices on a year-over-year basis.

  • GlobeNewswire

    Barrick and Teranga Obtain Key Approvals from the Government of Senegal for Teranga’s Acquisition of the Massawa Gold Project

    Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ; OTCQX:TGCDF) today announced that Barrick Gold Corporation (“Barrick”) (TSX:ABX; NYSE:GOLD) and Teranga have obtained certain key approvals from the Government of Senegal in order to proceed to close the previously announced acquisition of a 90% interest in the Massawa Gold Project (“Massawa”) from a wholly-owned subsidiary of Barrick and its joint venture partner, Compagnie Sénégalaise de Transports Transatlantiques Afrique de l’Ouest SA, with the Government of Senegal holding the remaining 10% interest in Massawa (the “Transaction”).

  • Barrick Gold CEO Expects to Beat $1.5 Billion Asset-Sale Target
    Bloomberg

    Barrick Gold CEO Expects to Beat $1.5 Billion Asset-Sale Target

    (Bloomberg) -- Asset sales and higher gold prices are creating short-term benefits for Barrick Gold Corp., and raising longer-term questions.The world’s second-largest gold producer will exceed its two-year goal of selling $1.5 billion in assets by the end of 2020, Chief Executive Officer Mark Bristow said in an interview.Those sales -- along with a strong tailwind from higher gold prices -- allowed the company to boost its dividend once again, while cutting debt. However, shedding assets also shrank the miner’s production profile, causing it to lower its five-year guidance and think seriously about whether it should add more copper to its portfolio.“My issue is, what does the our company look like in 10 years time?” Bristow said, following the release of the miner’s fourth-quarter earnings. “If you’re going to be a major player, you need to have copper in your portfolio.”Barrick announced its initial asset-sales target in the wake of its $5.4 billion acquisition of Randgold Resources Ltd. last year. The Toronto-based global miner sold a number of assets in 2019 including its 50% stake in the Kalgoorlie mine in Western Australia.“We’re going to beat it,” Bristow said Wednesday of the $1.5 billion target. “We still have some work to tidy up the portfolio.” The company has roughly $450 million in sales to go to reach the $1.5 billion mark, but expects to sell more than that this year, he said.The sales -- part of the company’s focus on “tier one” assets -- have forced Barrick to narrow its five-year annual production range to 4.8 million to 5.2 million ounces. As recently as November, the company was predicting a range of 5.1 million to 5.6 million ounces, based on its portfolio at the time. The miner is forecasting a 30% drop in global gold supply by 2029.Barrick plans to release 10-year production guidance at its annual general meeting -- which is scheduled for May 5 -- and is thinking hard about whether it should increase its copper holdings, Bristow said.“We would invest in copper where it comes with gold, or we would invest in copper where we feel that we have a strategic advantage to outperform the big copper-focused companies,” he said. Barrick’s internal hurdle for copper investments is a 15% real rate return, he said.In December, Bristow floated the possibility that Barrick could one day pursue a merger with Freeport-McMoRan Inc., the largest publicly traded copper producer, or make a play for some of its assets. On Wednesday, Bristow said the idea is just at a conceptual stage but has triggered “an interesting debate.” There are no plans “to run out there and do something” right now, he stressed. “I don’t do hostile things lightly. This is a complicated situation.”Barrick shares slipped 0.2% to close at $18.41 in New York on Wednesday, paring its gain in the past year to 38%.With help from asset sales, the company still has the potential to reach zero net debt this year, he reiterated. That would mark a dramatic turnaround for a miner that saw debt swell after its last major foray into copper in 2011, with the disastrous top-of-the-cycle acquisition of Equinox Minerals Ltd.The impact of falling global gold production on miners is being mitigated by higher prices. Spot gold averaged about $1,483 an ounce in the fourth quarter, 21% more than a year earlier, and the haven metal has extended gains this year as the coronavirus weighs on expectations for economic growth.Higher cash flows allowed Barrick to boost its quarterly dividend by 40% as it reported adjusted earnings of 17 cents a share for the fourth quarter, beating the highest analyst estimate. That followed a 25% dividend hike in the third quarter.To contact the reporter on this story: Danielle Bochove in Toronto at dbochove1@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven Frank, Reg GaleFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Barrons.com

    Barrick Gold Stock Is Up After Strong Earnings and a Dividend Hike

    The world’s second-largest gold-mining company said it earned an adjusted 17 cents per share on $2.88 billion in revenue in the fourth quarter.

  • Barrick Gold (GOLD) Q4 Earnings and Revenues Beat Estimates
    Zacks

    Barrick Gold (GOLD) Q4 Earnings and Revenues Beat Estimates

    Barrick Gold (GOLD) delivered earnings and revenue surprises of 21.43% and 0.84%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Barrick CEO sees no competition in his bid for Freeport's Grasberg mine
    Reuters

    Barrick CEO sees no competition in his bid for Freeport's Grasberg mine

    Barrick Gold Corp Chief Executive Mark Bristow on Wednesday said he sees no competition from rivals in his pursuit of Freeport-McMoran Inc's Grasberg copper-gold mine in Indonesia but cautioned any deal for the asset would take time to pull off. Bristow has fanned speculation that Barrick, the world's No. 2 gold miner, is poised to deepen its exposure to copper and last week expressed interest in acquiring Freeport's flagship Grasberg mine. Grasberg ranks as the world's second-largest copper mine and largest gold mine and would enable Barrick to take advantage of rising demand for copper in the electric vehicle industry.

  • GlobeNewswire

    Strong Q4 Caps Great Year for Barrick

    All amounts expressed in U.S. dollars unless otherwise indicated(Unaudited) TORONTO, Feb. 12, 2020 -- Barrick Gold Corporation’s gold production for 2019 of 5,465,000 ounces.

  • GlobeNewswire

    Barrick grows and improves reserve and resource base in a year of change

    Barrick’s annual reserve and resource declaration, published today as part of its fourth quarter 2019 results, shows an attributable gold mineral reserve increase of approximately 14.5% in ounces at a 7.7% higher grade after depletion from mining, reflecting a busy year which included the incorporation of Randgold Resources, the formation of the Nevada Gold Mines joint venture with Newmont and the disposal of KCGM. Attributable reserves now stand at 1,300 million tonnes at 1.68 g/t for 71 million ounces of gold.1  This has been achieved through reserve additions greater than mining depletion at a number of the principal assets including Kibali, Loulo-Gounkoto, Veladero, Porgera, Goldstrike underground mine, the Leeville/Portal underground mines, Mega Pit, Turquoise Ridge underground mine and Phoenix.

  • GlobeNewswire

    Barrick Increases Dividend 40% for Q4 2019

    Senior executive vice-president and chief financial officer Graham Shuttleworth said this was the third dividend increase this year and reflected the excellent performance for the year and Barrick’s profitability and financial strength. “The board believes the dividend increase is justified by the significant reduction in net debt and strong balance sheet, together with the growth in free cash flow supported by a robust 5-year plan which we have shared with the market,” said Shuttleworth.

  • Financial Times

    AngloGold sells world’s deepest gold mine in South Africa exit

    AngloGold Ashanti has sold its last South African mine to rival Harmony Gold, in a move that could pave the way for the company to shift its primary listing from Johannesburg to London. AngloGold said on Wednesday that it had reached a deal to sell Mponeng and its surface assets for $300m, or less than half book value. The company, which can trace it roots back the mining empire created by Ernest Oppenheimer, was formed in 1998 through the consolidation of Anglo American’s gold mines in South Africa, and later merged with Ashanti Goldfields of Ghana.

  • Financial Times

    Barrick Gold tops forecasts and raises dividend as gold prices soar

    Barrick Gold announced a 40 per cent dividend increase on Wednesday as quarterly results topped expectations on the back of higher gold prices. Barrick reported adjusted net earnings in the three months to the end of December of $300m, or 17 cents a share, up from $264m in the third quarter. Barrick said the payout was justified by growth in free cash flow and a significant reduction in net debt, which over the course of 2019 halved to $2.2bn.

  • Barrons.com

    Barrick Gold Reports Earnings Tomorrow. Here’s What to Expect.

    Wall Street analysts are expecting Barrick Gold to report adjusted earnings of 14.5 cents a share and revenue of $2.8 billion.

  • Should You Buy Barrick (GOLD) Ahead of Earnings?
    Zacks

    Should You Buy Barrick (GOLD) Ahead of Earnings?

    Barrick (GOLD) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

  • Barrons.com

    7 Stocks Join the ‘Dividend Aristocrats’, and Two More Numbers to Know

    STOCKSTOWATCHTODAY BLOG Three numbers to start your day: 60 S&P 500 Companies Report Earnings This Week Keep up, fourth-quarter earnings season continues. Several major companies in the health-care space will report this week.

  • Reuters

    Violence in Africa's Sahel region attacks the mining food chain

    Violence in Africa's Sahel region has driven mining exploration companies to put projects on hold, with knock-on effects for an industry struggling to expand and for fragile local economies. Islamist groups have been pushing south from strongholds in northern Mali and carried out attacks across much of Burkina Faso and parts of western Niger. As security costs have risen, mining companies that explore for mineral deposits have shut down projects in the most dangerous areas.

  • Reuters

    Shanta Gold buys Kenya exploration project from Barrick

    Shanta Gold on Monday said it had acquired Barrick subsidiary Acacia Exploration's project in southwestern Kenya in a $14.5 million deal which gives the Tanzania-focused miner its first asset outside the country. The project, which Acacia Mining began exploring in 2010 before being bought out by Barrick, is estimated to hold 1.18 million ounces of gold with a grade of 12.6 grams per tonne. Shanta bought the project for $7 million in cash and $7.5 million in shares issued to Barrick, making the Canadian miner Shanta's fifth largest shareholder with a 6.4% stake.

  • 3 Gold Stocks Set to Beat Estimates this Earnings Season
    Zacks

    3 Gold Stocks Set to Beat Estimates this Earnings Season

    With gold prices witnessing the highest fourth quarter average in six years, we have handpicked three gold mining stocks that are poised to deliver earnings beat in their upcoming quarterly results.

  • 3 Big Stock Charts for Friday: Barrick Gold, Gilead Sciences, and Cloudflare
    InvestorPlace

    3 Big Stock Charts for Friday: Barrick Gold, Gilead Sciences, and Cloudflare

    Optimism has returned to the equity markets in a hurry. U.S. stocks moved higher for a fourth consecutive session Thursday. The S&P 500 now has risen almost 4% this week alone. The NASDAQ Composite is up almost 5%.Source: Shutterstock Even in this confident market, however, a few stocks have been left behind. Friday's big stock charts feature three of those names. * 7 Biotech Stocks to Buy That Could Beat the Coronavirus These aren't stocks that investors have dumped, necessarily. Rather all three stocks have been mostly stuck, either in recent sessions or in recent months. The sideways trading is somewhat interesting in a market that has been much more volatile so far in 2020. And in all three cases, that sideways trading seems unlikely to last.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Barrick Gold (GOLD)Source: Provided by Finviz The news certainly has improved for Barrick Gold (NYSE:GOLD). GOLD stock has rallied over 50% from May lows. The stock finally has taken advantage of higher gold prices, long a problem for Barrick and the sector as a whole.Ahead of fourth quarter earnings on Wednesday, however, investors have taken a 'wait and see' approach, as the first of Monday's big stock charts shows. So it may be gold itself that determines the near-term move for GOLD stock: * GOLD stock has established a narrowing wedge pattern. That pattern often means that the stock makes an accelerated move in whichever direction it exits the wedge. Right now, the bias probably is bullish. Both GOLD stock and the gold price have drifted higher since November. A small rally here would exit the wedge, break through recent resistance, and potentially augur an upside breakout. * But for that to happen, gold prices need to cooperate. The Q4 earnings report might move the stock, but most commodity producers don't necessarily see huge one-day swings. The options market, for instance, projects such a 4% move in Barrick stock between now and next Friday. A big move in gold could have a big effect, however, and technicals for the yellow metal do look somewhat promising. * The reliance on gold prices does make GOLD stock intriguing at the moment. Presumably, moderating coronavirus fears should be good for stocks -- and bad for gold, which could pressure shares. But Barrick, per its chief executive officer, may be looking to add more copper assets to its portfolio, even as the company denies rumors of a tie-up with copper giant Freeport-McMoran (NYSE:FCX). With so much going on, it does make sense that GOLD remains in a holding pattern, but I'd expect movement at some point soon, even if earnings aren't the catalyst. Gilead Sciences (GILD)Source: Provided by Finviz As the second of our big stock charts shows, Gilead Sciences (NASDAQ:GILD) has been trading sideways all the way back to late 2018. Shares have bounced of late, but Thursday's retreat does look somewhat worrisome: * On its face, the 3.55% pop on Thursday seems like good news. GILD challenged resistance and actually set a six-month closing high in the process. But intraday trading looks a bit weak: shares sold off after a big morning rally, and settled back toward long-term resistance. For over a year now, investors have simply balked at paying more than $70 a share for Gilead stock, and they did so again on Thursday. * Admittedly, shares have built momentum of late and could continue to do so. Gilead's remdesivir is being tested in China on an experimental basis as a coronavirus treatment. But Gilead also saw some negative news this week, with a disappointing fourth quarter report and soft guidance for 2020. * Fundamentally, it does seem like resistance may hold. GILD stock does look cheap, and a 3.7% dividend yield helps the case. But the company's own guidance suggests a double-digit decline in earnings per share in 2020; the stock probably should be cheap. * And so GILD stock needs a catalyst -- and remdesivir might be it. If it's not, however, a return to the low end of the range hardly seems unlikely. Cloudflare (NET)Source: Provided by Finviz Unlike most 2019 initial public offerings, security provider Cloudflare (NYSE:NET) has seen quiet trading out of the gate. That stands in stark contrast to the likes of Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT), which fell sharply almost immediately, and Beyond Meat (NASDAQ:BYND), which at one point had risen over 800% from its IPO price.Here, too, investors are in 'wait and see' mode. That might change on Thursday afternoon: * Early trading in NET stock has established a textbook wedge pattern, with the range continuing to narrow of late. Somewhat incredibly, given that Cloudflare is an unprofitable, high-growth name in a crowded field, shares haven't closed below $17 or above $19 since late December. * Fourth quarter earnings arrive after the close on Thursday and should lead to some movement. NET stock did trade basically flat after the Q3 report in November: shares gained 1.45% the following day. But 2020 guidance should be included with the release, and will be closely watched. * With NET trading at about 18x 2019 revenue even backing out its cash balance, sideways trading isn't going to last forever. A strong outlook for 2020 drives fundamental upside, perhaps leading NET to join the ranks of 'hot' growth stocks. Technically, an upside wedge exit would suggest a potential breakout, and establish near-term moving averages as support. Of course, the converse is true as well. At 18x sales, a soft outlook is not priced in. And there's a lot of whitespace on the chart to the downside if NET stock stumbles next week.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Utility Stocks to Buy That Offer Juicy Dividends * 10 Gold and Silver Stocks to Profit Off 2020's Fear Trade * 3 Top Companies That Should Be More Careful With Your Data The post 3 Big Stock Charts for Friday: Barrick Gold, Gilead Sciences, and Cloudflare appeared first on InvestorPlace.

  • Will Nevada Gold Mines Support Barrick's (GOLD) Q4 Earnings?
    Zacks

    Will Nevada Gold Mines Support Barrick's (GOLD) Q4 Earnings?

    Strong performance from Nevada Gold Mines and higher gold prices are likely to get reflected in Barrick's (GOLD) Q4 results.

  • Barrick CEO Bristow eyes Freeport's flagship Grasberg mine
    Reuters

    Barrick CEO Bristow eyes Freeport's flagship Grasberg mine

    Rumors that Barrick, the world's second-largest gold miner, planned to bid for Freeport are "completely wrong", Bristow told Reuters on the sidelines of the Mining Indaba conference in Cape Town. "People say, 'Are you interested in Grasberg?' I say, 'I have to be; it's a tier one asset,'" Bristow said. Buying Grasberg - the world's largest gold mine and second-largest copper mine - would fit nicely into Barrick's strategy of expanding in the Pacific Rim and capitalizing on rising copper demand from the electric vehicle industry.

  • Reuters

    Barrick Gold denies Freeport-McMoran tie-up in the works

    Barrick Gold is not looking to merge with copper miner Freeport-McMoran, CEO Mark Bristow said on Thursday, although he is interested in the company's Grasberg mine in Indonesia, and indicated he wants to expand in the Pacific Rim. Rumours the world's second-largest gold miner planned to combine with Freeport are "completely wrong", Bristow told Reuters on the sidelines of the Mining Indaba conference in Cape Town.