|Bid||12.33 x 100|
|Ask||12.40 x 100|
|Day's range||0.00 - 0.00|
|PE ratio (TTM)||15.74|
|Forward dividend & yield||0.12 (0.89%)|
|1y target est||15.56|
Barrick Gold Corp. is the undisclosed gold miner who was asked to sign a confidentiality agreement alongside activist investor John Paulson to discuss potentially buying Detour Gold Corp., according to people familiar with the matter. While Barrick’s level of interest in Detour is unclear, neither Paulson nor Barrick signed the confidentiality agreements, said the people, who asked to not be identified because the matter isn’t public. Paulson has held previous discussions about Detour with Barrick, they added.
The stock has significantly underperformed its close peers Goldcorp (GG), Newmont Mining (NEM), and Agnico Eagle Mines (AEM), which returned 3.6%, -1.8%, and -1.4%, respectively. The VanEck Vectors Gold Miners ETF (GDX) returned -5.5% over the same period. Some of the same issues are still affecting the stock today. See Market Realist’s series A Look at Barrick Gold after Its 1Q18 Earnings Beat for more on Barrick Gold’s outlook.
Investors are typically interested in gold mining companies’ (GDX)(GDXJ) ability to generate FCF (free cash flow) because FCF helps them invest in future growth—apart from the aim of returning cash to shareholders.
In this part, we’ll discuss what analysts expect for these gold miners’ (RING) earnings. In line with lower revenues, Barrick Gold’s (ABX) EBITDA are also expected to fall. Barrick is expecting its all-in sustaining costs for 2018 to be $765–$815 per ounce, compared to $710–$770 per ounce in 2017.
It’s been a year since Acacia Mining Plc’s majority shareholder started talks on its behalf to end a standoff with the Tanzanian government and interim Chief Executive Officer Peter Geleta is getting frustrated. Barrick Gold Corp., which owns about 64 percent of London-based Acacia, last month withdrew a timetable to resolve the dispute with Tanzania, after previously indicating it would have a detailed proposal ready by mid-year.
Acacia Mining (Frankfurt: 33A.F - news) reported a fall in first-half core earnings on Friday due to an impairment on a project and higher costs mainly stemming from arbitration with the Tanzanian government that pushed the company into a quarterly loss. Shares (Berlin: DI6.BE - news) in Acacia, majority owned by Barrick Gold (Hanover: ABR.HA - news) , were down around 2 percent by 0920 GMT. Tanzania, where Acacia has all of its operating mines, has introduced sweeping changes to its mining industry including banning the export of raw minerals and introducing laws to reap more revenue from the sector.
Acacia Mining (ACAA.L) said on Friday reported a fall in first-half core earnings but managed to generate cash due to strong operational performance at its mines in Tanzania. Acacia, majority owned by Barrick Gold (ABX.TO), generated free cash flow of $14 million in the second quarter for the first time since 2016, the company said. Tanzania, where Acacia has all of its operating mines, has introduced sweeping changes to its mining industry including banning the export of raw minerals and introducing laws to reap more revenue from the sector.
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 the second quarter and beyond. Analysts expect Barrick Gold (ABX) to generate revenues of ~$1.84 billion in the second quarter.
Jim Cramer rattles off his take on callers' favorite stocks, including his take on how investors should approach the gold market.
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.
Barrick Gold's (ABX) latest deal with Shandong Gold will enable the companies to jointly explore opportunities and boost long-term value.
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.
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 miner Acacia Mining Plc (Frankfurt: 33A.F - news) said on Friday it expected 2018 production to come in at the top end of this year's reduced target of 435,000-475,000 ounces. Acacia, a unit of Canada's Barrick Gold (Hanover: ABR.HA - news) and Tanzania's largest gold miner, said first half production fell more than 40 percent to 254,759 ounces from a year earlier. It produced 133,778 ounces of gold in the second quarter, down 36 percent on a year ago due to a scaling back of operations at its flagship Bulyanhulu mine.
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.
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.
Acacia Mining (Frankfurt: 33A.F - news) said on Monday its majority shareholder Barrick Gold (Hanover: ABR.HA - news) would not provide a new deadline for the completion of talks to end a crippling dispute over taxes in Tanzania after failing to meet a mid-year target to do so. Barrick, which is negotiating on Acacia's behalf with the Tanzanian government, had previously said it would provide an agreement for approval by Acacia's board by the end of June. Barrick, which owns 63.9 percent of Acacia, struck a framework deal in October with Tanzania that was supposed to resolve the tax dispute.
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.