12.81 -0.01 (-0.08%)
After hours: 5:31PM EDT
|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|
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.
News that Barrick Gold Corp. (TSX:ABX)(NYSE:ABX) is deepening ties with its Chinese partner are making this gold mining stock an event more attractive buy.
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 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.
Canadian miner Barrick Gold Corp (Toronto:ABX.TO - News) and China's Shandong Gold (Shanghai:600547.SS - News) on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions. Barrick Gold, the world's largest producer of bullion, last year signed a near billion-dollar deal to sell Shandong a 50-percent stake in its Veladero mine in Argentina. The development is one of Barrick's top five gold mines.
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.
Acacia, a unit of Canada's Barrick Gold (Toronto:ABX.TO - 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. It sold marginally more ounces of gold than it produced in the quarter, helped by the timing of some shipments.
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.
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...