|Bid||14.51 x 0|
|Ask||14.52 x 0|
|Day's Range||14.47 - 15.06|
|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||14.29|
On September 24, Barrick Gold (ABX) agreed to acquire Randgold Resources (GOLD) in a share-for-share deal. The merger would create an industry-leading gold company (GDX) with the greatest concentration of tier-one gold assets (GLD). See Barrick-Randgold Merger Would Create World’s Largest Gold Miner for more details. Today, Citi (C) analyst Alexander Hacking upgraded Barrick Gold (ABX) from “neutral” to “buy” and raised the target price from $11 to $14.
Barrick Gold's (ABX) latest deal with Randgold to create an industry-leading gold company with the highest concentration of Tier One Gold Assets.
Gold mining companies have been under tremendous pressure in 2018 as the price of gold (GLD) has fallen ~8% year-to-date. The VanEck Vectors Gold Miners ETF (GDX) has amplified that return by falling ~21% in the same period. Gold miners haven’t kept pace with broader equities (SPY) (IVV) and gold prices.
Both Barrick Gold (ABX) and Randgold Resources (GOLD) believe the combined company will have the greatest concentration of tier one gold assets and the lowest total cash cost position among its senior gold miner peers (GDX). After the merger, the new Barrick Gold (ABX) will have: five of the world’s top ten tier one gold assets by total cash cost. the largest gold (GLD) reserves among senior gold peers. the highest adjusted EBITDA, the highest EBITDA margin, and the lowest cash cost position among senior gold peers. established positions with leading Chinese mining companies. ...
On September 24, Barrick Gold (ABX) agreed to acquire Randgold Resources (GOLD) in a share-for-share deal. Based on their closing prices on September 21, the new Barrick Gold would have an aggregate market capitalization of $18.3 billion. Under the terms of the merger, Randgold Resources shareholders will receive 6.128 new Barrick Gold shares for each Randgold share.
Barrick Gold Corp. agreed to buy Randgold Resources Ltd. for $6 billion in an all-share merger that will solidify Barrick as the world’s largest gold company by production, with a dominant position in Africa. Barrick shareholders will own 67% of the combined company, and Randgold investors will own 33%, the companies said Monday. The deal will pair two of the gold-mining industry’s biggest personalities: Barrick’s John Thornton, a former Goldman Sachs Group Inc. executive, and Randgold Chief Executive Mark Bristow, renowned for taking motorcycle trips through Africa.
The mixed reaction to Monday’s gold-mining megamerger underscores the challenges facing the North American gold sector, where shares have tumbled this year to discounts rarely seen outside significant market downturns. Investors heartily applauded Barrick Gold Corp.’s agreement to buy Randgold Resources Ltd. for $6 billion in stock. Shares of Barrick rose 6% and Randgold climbed 7%.
Canada's Barrick Gold Corp has agreed to buy Randgold Resources Ltd in an all-stock deal valuing the Africa-focused miner at $6.5 billion, to create the world's largest gold producer in an industry under investor pressure to put capital to good use. The new Barrick company, which will be listed in New York and Toronto, will own five of the world's 10 lowest-cost gold mines and have a market value of $19.4 billion based on Monday's trading. The deal marks the biggest transaction in years in the gold mining industry, where companies have come under fire from investors for poorly managing capital, forcing them to focus on costs while dampening enthusiasm for acquisitions.
Barrick Gold Corp. has agreed to take over Randgold Resources in an all-share deal worth about $7.9 billion that will solidify its position as the world's biggest gold producer after years of cutbacks. Randgold investors will receive 6.128 Barrick shares for each of their shares to own about a third of a new Barrick group with some $12.5 billion in revenue and an expected $23.7 billion market capitalization. The deal brings together two companies focused on efficient operations and returns to shareholders as measured by growth in free cash flow, said Barrick executive chairman John Thornton, on a conference call Monday.
A new round of trade war news pressured Monday's open, while mergers news, rising oil prices and clinical trial results drove some early leaders.
Ryan McQueeney breaks down the latest merger & acquisition news involving Comcast and Sky, Pandora and Sirius XM, and Barrick Gold and Randgold Resources. He also highlights an interesting new marijuana play from biotech DNA expert Intrexon. Later, he discusses recent M&A trends and data.
The metal is out of favor and the shares of many mining companies are depressed. But with stocks at highs and global tensions rising, this may be the metal’s time.
Investing.com - Stocks in focus in pre-market trade Monday:· Comcast (NASDAQ:CMCSA) stock slipped 4.62% as of 8:22 AM ET (12:22 GMT) after the company outbid Fox on Saturday for a majority stake in European broadcaster Sky.· Barrick Gold Corporation (NYSE:ABX) stock surged by 2.87% after the company bought Randgold Resources (LON:RRS) for $18 billion.· Tesla (NASDAQ:TSLA) stock slipped up 1.3% after the luxury carmaker announced it was launching a door-to-door service for customers in Los Angeles in an attempt to speed up car sales.· Pandora (NYSE:P) stock jumped 8. ...
Barrick Gold has agreed to buy Africa-focused rival, Randgold Resources in an all-stock deal. The news has put the spotlight on a couple of gold mining ETFs.
Panning for gold takes hours of inspection. and Randgold Resources is just as hard, particularly for investors in the latter. The two miners have concocted a nil-premium takeover of London-listed Randgold by Barrick of Canada to create the world’s biggest gold producer.
Barrick Gold Corporation (ABX)(ABX.TO) (“Barrick” or the “Company”) today announced that it has entered into a mutual investment agreement with Shandong Gold Group Co., Ltd. (“Shandong Gold”), further strengthening Barrick’s partnership with one of China’s leading mining companies. Under the Agreement, Shandong Gold will purchase up to $300 million of Barrick shares, and Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co., Ltd., a publicly listed company controlled by Shandong Gold. “This mutual investment is another reflection of the deepening partnership between our two companies,” said Barrick Executive Chairman John L. Thornton.
NEW YORK, NY / ACCESSWIRE / September 24, 2018 / U.S. markets were mixed on Friday, with the Dow Jones managing to close at an all-time high despite a plunge in technology and internet stocks. The Dow Jones Industrial Average gained 0.32 percent to close at 26,743.50, while the S&P 500 Index declined 0.04 percent to close at 2,929.67. The Nasdaq Composite Index decreased 0.51 percent to close at 7,986.96.
Check out the companies making headlines before the bell: Comcast CMCSA – The NBCUniversal and CNBC parent won the bidding for British broadcaster Sky in a weekend auction, beat 21st Century Fox FOXA with a $38.