|Bid||13.51 x 0|
|Ask||13.52 x 0|
|Day's Range||13.20 - 13.73|
|52 Week Range||12.54 - 21.03|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 24, 2018|
|Forward Dividend & Yield||0.16 (1.19%)|
|1y Target Est||14.33|
Mark Bristow, the chief executive of Randgold, will become CEO of the combined company, one of the sources said. Bloomberg News reported earlier that a deal was imminent, after it was first reported by mining blog IKN. Barrick does not currently have a president after Kelvin Dushinsky left to join AngloGold Ashanti Ltd (ANGJ.J) as CEO.
TORONTO, Sept. 14, 2018-- Barrick Gold Corporation will release its Third Quarter 2018 Results on October 24, 2018, followed by a conference call and webcast on October 25 at 8:00 a.m. ET.. Third Quarter ...
Gold hasn't been a very good investment in recent years. As a result, neither have gold stocks. Here are three gold-related stocks that could break that trend.
Barrick Gold Corp (Toronto:ABX.TO - News) will eliminate the executive role of Chief Innovation Officer as part of a broad decentralization push, the company said on Wednesday, adding that it will continue to work on innovation and productivity improvements. Barrick did not officially announce the change, which follows work by CIO Michelle Ash to establish systems that support innovation work at the mine site, rather than the head office, a company spokesman said. "When operations are central to the innovation process, the implementation of new technologies and processes becomes faster and more successful," said Barrick spokesman Andy Lloyd.
Barrick Gold (TSX:ABX) (NYSE:ABX) is a contrarian pick, but the upside potential might be worth adding the stock to your portfolio.
The average ratio of the NYSE Arca Gold Miners Index and the S&P 500 Index (SPY) is 0.18 compared to the ten-year average of 0.68. While the valuations of broader equities have continued to increase, the valuations of gold stocks haven’t kept the pace, and the ratio has fallen. In this article, we’ll see how individual gold miners look based on their valuations and compared to their histories and their peers.
Moving averages help traders and investors make market entry or exit decisions. Usually, if a stock is trading below its moving averages, it indicates that the stock is oversold, and vice versa. As we can see in the above table, all the gold miners we’re reviewing in this series are trading at discounts to their 50-day and 20-day moving averages based on their closing prices on August 17.
Now that we’ve considered analysts’ revenue estimates for the senior gold miners under review (GDX) in this series, let’s take a look at analysts’ EBITDA estimates.
In the previous article, we looked at analysts’ ratings for senior gold mining companies. In this article, we’ll look at analysts’ estimates for those companies’ (GDX) (JNUG) revenues going forward.
In this article, we’ll look at the market sentiments for these companies. We’ll look at analysts’ recommendations, target prices, and potential upsides or downsides for these gold miners.
To a point, companies try to optimize their debt-to-equity mixes. In fact, it isn’t always bad to carry debt if a company can repay it through earnings.
One way to assess a company’s liquidity is to calculate its current ratio. Newmont Mining (NEM) and Kinross Gold (KGC) are doing the best among senior miners with ratios of 4.6x and 3.7x, respectively. Goldcorp (GG) and Yamana Gold (AUY), on the other hand, have the lowest current ratios of 1.01x and 1.04x, respectively.
AISC (all-in sustaining costs) is an encompassing measure that helps us compare gold miners’ performances. Barrick Gold (ABX) reported AISC of $856 per ounce and a cost of sales of $882 per ounce in the second quarter. Its cost of sales reached 22.0%, and its AISC was 21.0% higher YoY (year-over-year).
After making discretionary cuts on exploration and capex for many years, gold miners (GDX) (JNUG) have started to refocus on production growth. Newmont Mining (NEM) has approved eight projects since mid-2014. It’s also still on track to reach commercial production at Subika Underground in the fourth quarter.
What Could Drive Newmont Mining Stock in the Rest of 2018? Newmont Mining (NEM) has a forward EV-to-EBITDA multiple of 7.6x, which is the highest among the senior gold miners. Senior miners Kinross Gold (KGC), Barrick Gold (ABX), and Goldcorp (GG) are trading at forward multiples of 3.7x, 5.5x, and 6.3x, respectively.
Goldcorp (GG) produced 571,000 ounces of gold in the second quarter, a fall of ~10.0% YoY (year-over-year). Barrick Gold (ABX) produced ~1.07 million ounces of gold in the second quarter, reflecting a fall of ~25.0% YoY. Part of Barrick Gold’s lower production was expected due to lower ore grades, recovery at the Barrick Nevada oxide mill, and scheduled maintenance shutdowns at the Barrick Nevada and Pueblo Viejo autoclaves.
Among the gold miners (RING) (GDX) we’re discussing in this series, only Newmont Mining (NEM) beat analysts’ expectations in the second quarter. Stock reactions to the companies’ beats and misses and the extent of gold’s beats and misses varied among miners.
Gold prices haven’t been able to catch a break even as geopolitical concerns have become more pronounced. On August 15, gold prices fell to a 19-month low of $1,173 per ounce as the US dollar continued its winning streak. The precious metal appears to have lost some of its safe-haven appeal.
What Could Drive Newmont Mining Stock in the Rest of 2018? Investors are usually interested in the company’s FCF (free cash flow) progression, as it enables miners (GDX)(RING) to optimize their financial leverage, invest in projects supporting long-term value, and provide shareholder returns. In this context, we’ll look at Newmont Mining’s (NEM) FCF generation in 2018 and its future capability to generate cash.
Newmont Mining (NEM) saw its debt rise at the peak of the cycle due to expensive acquisitions. These companies are now focusing on steadily paying off their debt.
Newmont Mining’s (NEM) AISC (all-in sustaining costs) totaled $1,024 per ounce in the second quarter, 16.0% higher YoY (year-over-year) and 5.2% higher sequentially. This represents the temporary rise in costs for Newmont Mining in 2018 as the company executes its stripping campaigns at Carlin, Twin Creeks, Boddington, and Yanacocha.
What Could Drive Newmont Mining Stock in the Rest of 2018? Newmont Mining is poised to overtake Barrick Gold as the world’s largest gold producer in 2018. For more on this, please read Barrick Gold versus Newmont Mining: Comparing Miners in 2018 and Beyond.
Newmont Mining (NEM) reported its second-quarter earnings before the market opened on July 26 and held its conference call the same day. The company reported EPS of $0.26, which beat the consensus expectations by $0.02. Its revenues of $1.66 billion, however, missed expectations by 7.0%.