barrick gold corp (ABX:Toronto)
barrick gold corp (ABX) Snapshot
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Open
C$20.25
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Previous Close
C$20.12
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Day High
C$20.45
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Day Low
C$19.34
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52 Week High
06/6/12 - C$44.75
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52 Week Low
04/17/13 - C$17.97
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Market Cap
19.7B
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Average Volume 10 Days
6.8M
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EPS TTM
C$3.30
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Shares Outstanding
1.0B
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EX-Date
05/29/13
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P/E TM
5.8x
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Dividend
C$0.80
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Dividend Yield
4.10%
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barrick gold corp (ABX) Latest News
barrick gold corp (ABX) Related Businessweek News
barrick gold corp (ABX) Details
Barrick Gold Corporation engages in the production and sale of gold and copper. It is also involved in exploration and mine development activities. The company holds interests in the producing gold mines, which are concentrated in North America, South America, and Australia Pacific; producing copper mines located in Chile and Zambia; and a mine under construction is located in Saudi Arabia. In addition, it holds interests in oil and gas properties located in Canada. As of December 31, 2012, the company had proven and probable mineral reserves of 140.2 million ounces of gold, 1.05 billion ounces of silver contained within gold reserves, and 13.9 billion pounds of copper. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.
barrick gold corp (ABX) Top Compensated Officers
barrick gold corp (ABX) Key Developments
Norton Gold Fields Limited (ASX:NGF) said it will look at bidding for Darlot, Granny Smith and Lawlers mines of Barrick Gold Corporation (TSX:ABX). A person familiar with the matter told The Wall Street Journal in April 2013 that Barrick has appointed Bank of AmericaMerrill Lynch and UBS AG to find a buyer for the mines. "Frankly, we are growing, so I cannot hide that we would be interested," Dianmin Chen, Norton's Chief Executive Officer, said. According to Dow Jones, a Perth-based spokeswoman for Barrick Gold didn't return requests for comment. Chen declined to say how any offer for Barrick's three mines could be structured. "Zijin is in the stage to grow their business internationally and, given the current market, maybe it is a good time for expanding further in Australia. It is important that we set up an example in Australia that Chinese-backed gold mines can make money," Chen added.
Barrick Gold Corporation and Barrick North America Finance LLC announced the pricing of $3 billion in debt securities comprised of: $650 million of 2.50% notes due 2018 and $1.5 billion of 4.10% notes due 2023 of Barrick as well as $850 million of 5.75% notes due 2043 of BNAF. The 2043 Notes of BNAF are guaranteed by Barrick. The offering is expected to close on or about May 2, 2013. The net proceeds from this offering will be used to repay approximately $2 billion of borrowings under Barrick's revolving credit facility maturing in January 2018, which amount was originally borrowed for general corporate purposes and to repay existing indebtedness and for general corporate purposes, including, but not limited to, the repayment, in whole or in part, of the $500 million aggregate principal amount of the 6.125% Notes due 2013 issued by Barrick's wholly-owned subsidiary Barrick Gold Financeco LLC. The debt securities have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state securities laws.
Barrick Gold Corporation announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2013. Net earnings attributable to the equity holders of Barrick and adjusted net earnings for the first quarter 2013 of $847 million or $0.85 per diluted share and $923 million or $0.92 per diluted share, respectively, compared to net earnings and adjusted net earnings of $1.04 billion or $1.04 per diluted share and $1.10 billion or $1.10 per diluted share, respectively, in the same prior year period. The decrease in net earnings and adjusted net earnings was largely driven by lower realized gold and copper prices, lower gold and copper sales volumes and higher cost of sales applicable to gold and copper, partially offset by lower income tax expense. First quarter 2013 operating cash flow was $1.09 billion compares to $1.37 billion in the first quarter of 2012. Adjusted operating cash flow of $1.16 billion removes the impact of the Australian dollar hedge settlement and compares to adjusted operating cash flow of $1.48 billion in the same prior year period. For the quarter, revenue was $3,437 million and income before income taxes was $1,281 million against revenue of $3,644 million and income before income taxes of $1,585 million a year ago. Capital expenditures were $1,430 million against $1,415 million a year ago. First quarter 2013 gold production was 1.80 million ounces at all-in sustaining and total cash costs of $919 per ounce and $561 per ounce, respectively. All-in sustaining and total cash costs benefited from strong performances at Goldstrike, Cortez, and Veladero. Copper output for the quarter was 127 million pounds at C1 cash cost of $2.46 per pound. The higher C1 cost at Lumwana primarily reflect the impact of the wet season, including higher processing and labor costs. Gold sold was 1,747,000 ounces compared to 1,783,000 ounces for the same period a year ago. Copper sold was 115 million pounds compared to 119 million pounds for the same period a year ago. The company reaffirmed 2013 gold production guidance of 7.0 million to 7.4 million ounces at total cash costs of $610 to $660 per ounce. Full year all-in sustaining cost guidance has been reduced to $950 to $1,050 per ounce from the previous guidance of $1,000 to $1,100 per ounce. Full year total copper guidance for the company remains unchanged and now expects to produce 480 million to 540 million pounds. The company now expects total capital expenditure to $5.2 billion to $5.7 billion from previous guidance of $5.7 billion to $6.3 billion for the year 2013. For the first quarter ended March 31, 2013, the company reported impairment charges of $5 million compared to $94 million for the same period a year ago.
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Industry Analysis
ABX
Industry Average
| Valuation | ABX | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 1.3x |
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| Price/Book | 0.8x |
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| Price/Cash Flow | 3.4x |
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| TEV/Sales | NM | Not Meaningful |
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To contact BARRICK GOLD CORP, please visit www.barrick.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
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