11.18 -0.02 (-0.18%)
Pre-market: 8:35AM EDT
|Bid||11.18 x 1200|
|Ask||11.24 x 1000|
|Day's range||11.17 - 11.64|
|52-week range||9.53 - 16.84|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.12 (1.19%)|
|1y target est||14.17|
Newmont Mining has scotched talk of a bid for Canadian rival Barrick Gold, saying there was no value in a tie-up. Speaking at the Denver Gold Forum on Tuesday, Newmont chief Gary Goldberg said the company had examined a deal in the past and had not “seen anything”. After Barrick Gold announced on Monday a $6bn all-stock offer for Africa-focused rival Randgold Resources, there was talk that Newmont might look to wreck the deal with a bid for its Canadian rival.
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.
The gold mining sector has been one of the least loved among investors this year due to a lacklustre gold price and a dearth of new mining projects. Overall, gold mining shares are down by 23 per cent year-to-date.
The $18bn combination of Canada’s Barrick Gold and London’s Randgold Resources brings together two of the biggest personalities in the mining industry: a former highflying banker from Goldman Sachs and ...
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%.
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.
Global stock markets were down on Monday after China reportedly rebuffed a plan for talks with the U.S. on resolving their dispute over trade and technology. Oil rose after OPEC decided against increasing its output further. Markets in Japan, South Korea, Shanghai and elsewhere in the region were closed for national holidays.
Barrick Gold has agreed to buy Randgold Resources for $6.1 billion in stock to create the world's largest gold miner, worth a combined $18 billion. Shareholders in Barrick, which is based in Toronto, will own about 66.6 percent of the merged company, which will combine Randgold's African mines with Barrick's holdings in the Americas. Nicholas Hyett, an analyst at Hargreaves Lansdown, says the deal marks a return to Africa for Barrick, which spun off its holdings there eight years ago.
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.
FT subscribers can click here to receive FirstFT every day by email. New tariffs on half of all Chinese exports to the US go into effect today and will trigger counter-tariffs by the Chinese government ...
0953 GMT - Anglo Pacific looks set to make more royalty acquisitions before year-end after recently acquiring a stake in Labrador Iron Ore Royalty, Peel Hunt says. The brokerage expects a small net debt of GBP7 million at the end of 2018 after increasing its loans. Labrador’s 3Q dividend of C$0.55 a share was slightly ahead of Peel Hunt’s C$0.50 estimate and the consensus forecast, suggesting Anglo may see more near-term cash from Labrador than expected, the brokerage says.
Canadian mining giant Barrick Gold has bought Africa-focused rival Randgold Resources to create a global industry champion worth $18.3 billion, the pair said on Monday. The blockbuster all-share deal was described as a merger but is effectively a takeover because Barrick investors will own a majority 66.6-percent stake. Randgold shareholders will hold the rest.