|Bid||22.44 x 0|
|Ask||22.50 x 0|
|Day's Range||22.36 - 23.46|
|52 Week Range||15.37 - 26.69|
|Beta (3Y Monthly)||-0.78|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 6, 2019|
|Forward Dividend & Yield||0.21 (0.89%)|
|1y Target Est||13.81|
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,415.16, down 7.52 points).Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, 2.02 per cent, to $4.86 on 9.2 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Up 55 cents, or 5.71 per cent, to $10.19 on 8.4 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up eight cents, or 7.21 per cent, to $1.19 on 6.3 million shares.Algonquin Power & Utilities Corp. (TSX:AQN). Energy. Down 39 cents, or 2.11 per cent, to $18.06 on 5.3 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Down $1.37, or 5.75 per cent, to $22.44 on 5 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 41 cents, or 10.9 per cent, to $3.35 on 4.9 million shares. Companies in the news:Tourmaline Oil Corp. (TSX:TOU). Up $1.61 or 15 per cent to $12.33. Tourmaline Oil Corp.'s creation of a hybrid royalty company to hold some of its energy assets spurred a buying rush for the company's stock on Friday, although its share prices remained well below their 52-week highs. Tourmaline announced Thursday after markets closed it will sell a royalty on its oil and gas lands in northern Alberta and B.C., along with interests in two of its 19 natural gas processing plants and other third-party revenues, to newly created Topaz Energy Corp. for $775 million in shares and cash. Topaz is to raise $150 million to $200 million via a private placement of shares with investors to fund the deal, with the result that Tourmaline will wind up with between 75 and 81 per cent of the shares and $135 million to $185 million in cash, depending on the success of the private placement.WSP Global Inc. (TSX:WSP). Up $1.32 to $77.60. WSP Global Inc. is extending its shopping spree with the purchase of Dutch consulting firm Lievense Holding B.V. — WSP's seventh acquisition this year — in an ongoing bid to overtake rival SNC-Lavalin Group Inc. The Montreal-based engineering company announced Friday it will pay an undisclosed amount for the deal through available cash and credit facilities. The 375-employee Lievense firm gives WSP a foothold in the Netherlands and tacks on between $47 million and $56 million in additional annual revenue, according to analyst estimates. WSP's 2018 net revenues were $6 billion.MTY Food Group Inc. (TSX:MTY). Down $5.50 or 8.7 per cent to $57.75. MTY Food Group Inc. shares dropped to their lowest level in months after the restaurant franchisor reported quarterly revenue and profit that came in below analyst estimates. MTY reported earlier that profit attributable to its shareholders in the third quarter was $22.9 million or 91 cents per share for the quarter ended Aug. 31. That was up from $22.1 million or 88 cents per share in its 2018 fiscal third quarter, but short of estimates. Analysts had estimated $1.02 per share of profit and $167.9 million of revenue, according to financial markets data firm Refinitiv. MTY's revenue rose to $163.6 million from $113.0 million while system sales generated by its restaurants were a record $1.08 billion, up 36 per cent from $789.9 million a year earlier. This report by The Canadian Press was first published Oct. 11, 2019.The Canadian Press
(Bloomberg) -- China Minmetals Corp., Jiangxi Copper Co. and Zijin Mining Group Co. are among companies considering bids for Barrick Gold Corp.’s Zambian copper mine that could fetch about $1 billion, people with knowledge of the matter said.China Molybdenum Co. and Aluminum Corp. of China, known as Chinalco, were also invited to bid, said the people, who asked not to be identified as the information is private.Barrick, the world’s second-largest bullion producer, is working with advisers to solicit interest for the Lumwana mine, the people said. The Toronto-based miner continues to target $1.5 billion of asset sales by the end of 2020, Chief Executive Officer Mark Bristow said in August.Deliberations are at an early stage, and there’s no certainty they will result in a transaction, the people said.Representatives for Barrick, China Minmetals, Jiangxi Copper and Zijin declined to comment. Representatives at China Molybdenum and Chinalco couldn’t immediately comment.Lumwana, an open-pit mine, is expected to produce 210 million to 240 million pounds of copper this year and has proven and probable copper reserves of 4.5 billion pounds, according to Barrick’s website.Barrick acquired Lumwana as part of its takeover of Equinox Minerals Ltd. for more than $7 billion in 2011 and took a $3 billion writedown on the mine two years later. Lumwana was valued at about $1 billion in 2014. Subsequently, the Zambian government proposed to raise mining taxes, putting Lumwana in a “challenging situation,” according to Bristow.Barrick is working with Bank of Nova Scotia to identify buyers for its Tongon Gold mine in the Ivory Coast as the company ramps up asset disposals following its purchase of Randgold Resources Ltd., people familiar with the matter said in August.\--With assistance from Winnie Zhu.To contact the reporters on this story: Vinicy Chan in New York at email@example.com;David Stringer in Melbourne at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, Ville Heiskanen, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TORONTO, Oct. 10, 2019 -- Barrick will release its third quarter results to end September 2019 on Wednesday, November 6, 2019. President and CEO Mark Bristow will host a live.
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THUNDER BAY, ON, Sept. 27, 2019 /CNW/ - Premier Gold Mines Limited (TSX:PG.TO - News) (OTCPK:PIRGF - News) ("Premier", "the Company") is pleased to announce that processing of ore has commenced from the El Nino Mine at the Company's 40%-owned South Arturo Mine. South Arturo is located in the Carlin Trend, Nevada and is a joint venture between Premier and Nevada Gold Mines ("Nevada Gold"), a joint venture company owned by Barrick Gold Inc. (TSX:ABX.TO - News) and Newmont-Goldcorp (NYSE:NEM - News) with Barrick Gold Inc as operator. The El Nino mine was developed on-time and on-budget, with ore now being processed ahead of schedule. Gold production is expected to ramp up in H2-2019, with a first gold bar pour having been held on September 26, 2019 (see figure 2).
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The new Nevada Gold Mines complex is hosting a group of analysts for their first site visit since the formation of the Barrick / Newmont Goldcorp joint venture at the beginning of July. The complex represents the single largest gold producing operation in the world and includes three Tier 1 mines. In an announcement earlier this week, Barrick reported a new discovery hole4 about 2 kilometers from the best ever drilling intercept at its Fourmile project in Nevada and said this pointed to the potential for at least one more Tier 1 gold mine through the combination of Fourmile with the nearby Goldrush development project. Fourmile was not included in the recent combination of Nevada assets but the company has the right to bring it into the joint venture for fair market value provided certain agreed investment criteria are met.
(Bloomberg) -- Bullion may be trading near a six-year high, but gold-mining executives keen to show they’re conscientious on costs were munching on potato salad instead of oysters at this week’s industry gathering in Denver.As the chief executive officer of Agnico Eagle Mines Ltd., Sean Boyd, put it: “A general theme of this conference has been the need to maintain discipline.”That sentiment was echoed in presentations, interviews and the general coffee-time chatter at the gold industry’s largest U.S. gathering of the year. There was little buzz when it came to deals, and most mining executives stressed they were making business decisions based on a gold price of $1,200 an ounce, even as the metal traded above $1,500.“The message to the mines isn’t ‘It’s open season now,”’ for ramping up output at all cost, Boyd said in a presentation at the Denver Gold Forum on Tuesday.Gold producers are putting into practice hard lessons learned during the metal’s last bull surge. Prices in the spot market reached a record $1,921.17 in 2011, but quickly started to collapse from the euphoria as gains in the equity market and economic growth meant the metal fell out of favor as a haven. By the end of 2015, prices had tumbled about 45%.In the meantime, mining companies started ramping up production during the rally, at times taking on high-capital projects. The subsequent price slump dismayed investors who have only been lured back after cost cutting, debt reduction and boosts in productivity.No PressureNow that bullion is back in favor, many miners are playing it safe. CEOs including Sebastien de Montessus of Endeavour Mining Corp. and Paul Rollinson of Kinross Gold Corp. emphasized they didn’t feel pressure to get into big-time mergers and acquisitions. Most executives speaking during presentations and interviews emphasized plans for organic growth and optimizing existing assets.Barrick Gold Corp. CEO Mark Bristow also said there wasn’t much deal chatter at the conference, while saying that consolidation would be good for the industry.To be sure, there does seem to be some deal interest when it comes to Chinese producers. China Gold International Resources Corp., the overseas arm of state-owned China National Gold Group, is on the hunt for acquisitions to replenish its pipeline, Jerry Xie, executive vice president, said in an interview. The company is comfortable making purchases with a price tag at roughly $1 billion to $2 billion, Xie said.Prudence PervadesThat seemed to be a rare exception. Even when it comes to selling, producers are cautious.Newmont Goldcorp Corp.’s incoming CEO Tom Palmer said he’s ready to sit tight on investments even if that means not reaching a previously announced goal of as much as $1.5 billion in asset sales after the company’s merger with Goldcorp.“We’re in no rush to sell anything,” Palmer said in an interview Tuesday at the Denver Gold Forum.In an interview with Bloomberg Television, Palmer said there hasn’t been much discussion of M&A at the conference. That runs counter to what some analysts were expecting before the conference. Newmont’s mega-merger with Goldcorp, along with Barrick’s purchase of Randgold Resources Ltd., helped drive M&A in the sector to $18.2 billion in 2019, the highest level in eight years, according to data compiled by Bloomberg.Now companies are turning their focus to “managing their businesses,” Palmer said.To contact the reporters on this story: Vinicy Chan in New York at firstname.lastname@example.org;Millie Munshi in Denver at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Joe Richter, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.