Barrick Gold Corporation

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charel01
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Barrick Gold Corporation

Berichtdoor charel01 » 19 Sep 2015 17:40

Berichtdoor petrus » 19 Sep 2015 10:38

charel01 schreef:
TheStreet Ratings team rates BARRICK GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate BARRICK GOLD CORP (ABX) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself. "
:oops:


Volgens TheStreet Ratings team is GOLD FIELDS ook een "SELL". Alles hangt natuurlijk af van de evolutie van de goudprijs. De factoren die de invloed hebben op de goudprijs zijn bekend maar zelf moeilijk te voorspellen. Onder andere Goldman Sachs, ABN AMRO en Société Générale voorspellen een lagere goudprijs tegen het einde van dit jaar.
Ik ga niet beweren dat ze 100% zeker ongelijk hebben. Van de andere kant vind ik dat goudmijnen altijd goed zijn voor een paar procent bij een evenwichtig gespreide portefeuille. Er kan trouwens altijd iets gebeuren wat de goudprijs doet stijgen terwijl de aandelenbeurzen wereldwijd dalen. Ik heb enkele weken geleden terug aandelen van Gold Fields gekocht (in het begin van dit jaar heb ik ze verkocht) en hou ze voorlopig bij om de reden die ik aangehaald heb.Het bedrag dat ik er in gestoken heb is wel niet van die mate dat ik er van wakker zou liggen als mijn investering de helft in waarde daalt.
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charel01
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 21 Sep 2015 06:24

Barrick says strong interest in U.S. gold asset sale
There has been strong interest in a package of six U.S. gold assets that Barrick Gold Corp (ABX.TO) wants to sell, a senior Barrick executive said on Sunday, adding that he expects a deal to close before year end.

The interest has been largely from North American-based miners, Barrick President Kelvin Dushnisky said.

Denver-based Newmont Mining Corp (NEM.N) and Toronto-based Kinross Gold Corp (K.TO) are likely buyers of the assets, an investment banking source said, speaking on condition of anonymity. Kinross declined to comment and Newmonth could not immediately be reached for comment.

As part of its plan to cut at least $3 billion in debt this year, Barrick, the world's biggest gold producer, last month said it would sell six of its U.S. gold mines and projects: Bald Mountain, Round Mountain, Spring Valley, Ruby Hill, Hilltop and Golden Sunlight assets.

"We just started it (the sale) but already the level of interest is extremely high," Dushnisky told Reuters in an interview at the Denver Gold Forum, an annual gold industry conference.

"We initiated the process as a package but we are open-minded. If it makes sense to split it up and we will get better value as a whole for that, we will certainly consider it," he said.

Dushnisky declined to put a value on the asset package, which analysts have said could bring in between $500 million and $700 million.

NO TO MORE STREAMING DEALS, YES TO NON-CORE SALES

If done before year end, the sales will enable Barrick to exceed its $3 billion debt reduction target following other asset disposals and financings, including a recent so-called "streaming" deal on its Pueblo Viejo mine in the Dominican Republic.

Dushnisky said Barrick was not contemplating any more streaming deals, transactions that involve the forward sale of future production at a mine for an upfront payment.

Barrick is open to selling more noncore assets although, when it comes to its Lumwana copper mine in Zambia, it may make more sense to wait for better copper prices, Dushnisky said.

Other than Lumwana, Barrick's other non-core assets include a stake in Acacia Mining Plc (ACAA.L) and a 50 percent stake in the Kalgoorlie mine in Australia, which it owns with Newmont.

"While they are valuable assets ... if we can generate more value for our shareholders by those assets being in another company, then we are open-minded to that," Dushnisky said.

He said Barrick is pleased with Acacia's turnaround but there is still room for improvement.
Bron:"Reuters"
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 21 Sep 2015 15:15

The Fed's Decision To Keep Interest Rates Unchanged Is A Welcome Reprieve For Gold Miners
The Federal Reserve has announced that it is keeping interest rates unchanged, a move that could provide a fillip to gold prices and stocks of companies involved in the mining of precious metals. On a day on which the S&P 500 closed around 0.25% lower, the stocks of Newmont Mining, Barrick Gold , Freeport FCX -20.00%-McMoRan Inc., and Silver Wheaton rose around 2% each.
In this article, we take a look at the implications of the Fed’s latest move for gold prices and gold mining companies.

Unchanged Interest Rates

In its statement after the FOMC meeting, the Fed cited concerns over weakness in global economic growth, and low levels of inflation in the U.S., as important factors for keeping the 0-0.25% target for the Federal Funds rate unchanged. Whereas U.S. economic growth and the labor market have improved at a moderate pace, the Fed fears weakness in the global economy could be a dampener for U.S. economic growth. A weak global economy most directly impacts U.S. exports, while at the same time negatively impacting U.S. stock markets. Along with weak global economic growth, low rates of inflation also played a role in the Fed’s decision to keep interest rates unchanged. Weak energy prices and a strong U.S. Dollar, which has made non-energy imports cheaper, have kept inflation below the Fed’s 2% target. The Fed now envisions inflation touching 2% by 2018. A rate hike in the future is contingent upon the rates of employment growth, inflation, and economic growth.
Implications for Gold Prices

Gold prices have a negative correlation with interest rates, since the investment demand for gold is negatively correlated with interest rates. Gold as an investment is generally considered a safe haven asset, and investments in gold are primarily made with the purpose of hedging against economic uncertainty and inflation. Improving economic conditions and rising interest rates generally lower the investment demand for gold. With rising interest rates, investors tend to shift towards interest-bearing assets, that give higher yields as compared to gold, which does not offer returns besides capital gains.

Gold prices have weakened considerably this year, with expectations of a rate hike by the Fed adding to weak gold jewelry demand, keeping prices subdued. The Fed’s decision to keep interest rates unchanged is likely to provide a boost to gold prices in the short term. More importantly, with the Fed acknowledging the negative impact of global economic weakness on U.S. growth, there could be a significant delay in raising interest rates. Economic growth in emerging markets has moderated, with a slowdown in the Chinese economy a major reason for the same. With Chinese GDP growth expected to slow further to 6.3% next year, as compared to an expected growth rate of 6.8% for this year, it remains to be seen how soon weakness in global economic growth ceases to be a major factor influencing the Fed’s decision making process.
Even if the Fed’s decision does not provide any major upside to gold prices, it avoids the negative impact that an interest rate hike could have had on prices. Given the sharp decline in gold prices over the last twelve months, the Fed’s latest move will provide some respite to gold mining companies, which have been grappling with declining gold prices over the past several quarters. The investment demand for gold declined 11% year-over-year in Q2, primarily due to concerns over an interest hike by the Fed. With the Fed deciding to keep rates unchanged, these concerns would have eased considerably.
Major gold mining companies have been selling off non-core assets in order to boost flagging cash flows in the prevailing environment of weak gold prices. Newmont has sold off $1.6 billion worth of non-core assets since mid-2013. Barrick Gold has raised nearly $3 billion this year through a combination of stake sales and precious metal streaming agreements, the proceeds of which the company intends to deploy in its debt reduction efforts. In the midst of a challenging business environment, the Fed’s decision comes as a welcome reprieve to gold miners. However, how long the Fed decides to keep interest rates low remains to be seen.
Bron:"Forbes"
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 23 Sep 2015 06:11

Newmont not interested in Barrick's U.S. assets, eyes Australia
DENVER, Sept 22 (Reuters) - Newmont Mining Corp is not interested in buying the U.S. assets Barrick Gold has put up for sale, but would be keen on Barrick's 50 percent stake in an Australian mine at the right price, Newmont Chief Executive Gary Goldberg said on Tuesday.

"If we were to be interested in Barrick's assets, it wouldn't be those particular assets," Goldberg said in an interview when asked about the package of six gold mines and projects that Barrick is selling in the United States.

Asked if Newmont would be keen on Kalgoorlie, a gold mine in Australian jointly owned by Barrick and Newmont, he said: "If we could do something at the right value, that's one that we would be interested in." (Reporting by Nicole Mordant; Editing by Chris Reese)
Bron:"Reuters"
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 23 Sep 2015 06:22

Argentina suspends some Barrick operations after spill
Argentina judge suspends some of Barrick Gold's operations after spill but says waters safe

BUENOS AIRES, Argentina (AP) -- An Argentine judge investigating a cyanide spill at Barrick Gold's Veladero mine has temporarily suspended some operations by the world's largest gold mining company until the cause can be determined.

Judge Pablo Oritja suspended all operations by the Canadian company that use cyanide and said environmental impact can't be ruled out. But he added Tuesday that waters were not contaminated and would not be harmful to humans.

On Sept. 13, Barrick said a pipe carrying cyanide at the Veladero mine had a valve failure causing a leak into nearby waters. An investigation determined about 35,300 cubic feet (1,000 cubic meters) of liquid cyanide spilled.

Local residents have feared contamination of their water resources.

Barrick has declined to comment on the judicial decisions.
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 24 Sep 2015 18:51

Barrick Gold (ABX) Stock Climbing Alongside Gold Prices
NEW YORK (TheStreet) -- Barrick Gold (ABX - Get Report) stock is advancing by 6.06% to $6.30 in mid-morning trading on Thursday, as gold prices gain on a weaker dollar.

The dollar weakened against a number of currencies today ahead of Federal Reserve Chairwoman *** Yellen's speech, as investors hope for indications of when the central bank might hike interest rates, The Wall Street Journal reports.

A weaker dollar decreases the cost of assets such as gold that are priced in dollars, thereby increasing demand.

"Dollar vulnerability has translated to the gold bulls regaining momentum, with the next relevant resistance...at $1,145 an ounce still in play," Lukman Otunuga, a research analyst at FXTM, said in a note, according to The Journal.

Gold for December delivery is higher by 1.84% to $1,152.30 per ounce on the COMEX this morning.
Bron:"The Street"
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 26 Sep 2015 07:47

abxd0924.jpg

Here's the daily chart for Barrick Gold.
Barrick Gold is trading at $6.42 after closing at $6.56 Thursday, down 39% year to date with the stock below its 50-day and 200-day simple moving averages of $7.07 and $10.60, respectively. This "death cross" was confirmed on Sept. 22, 2014, when the stock closed at $15.41. The stock set a multiyear intraday low of $5.91 on Sept. 23 so it's up 11% from this low. The weekly chart is negative but oversold with the stock below its key weekly moving average of $7.25.

Gold-Mining Stocks Now Too Cheap to Ignore
NEW YORK (TheStreet) -- Investors looking to buy gold should pay attention to gold mining stocks Barrick Gold (ABX - Get Report) , Yamana Gold (AUY - Get Report) , Goldcorp (GG - Get Report) and Newmont Mining (NEM - Get Report) , which have dramatically lagged the price of the precious metal so far in 2015.

Unless Comex gold has a bad day on Friday, the gold futures contract will end the week with a positive weekly chart profile. With gold trading between $1,140 and $1,150 per troy ounce Friday morning, a close above its key weekly moving average of $1,131.3 will be positive as weekly momentum is projected to rise to 41.71 this week up from 37.44 on Sept. 18. The near-term upside is to the 200-day simple moving average of $1,179.4. The longer-term upside is to the 200-week simple moving average as the reversion to the mean of $1,400.9.

Investors concerned about the global economy and worried about spreading bear markets in stock markets around the world should allocate 5% to 10% of their diversified portfolios to gold mining stocks. Here are the daily charts for four portfolio candidates.
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 30 Sep 2015 08:15

Barrick Offering to Buy Back $750 Million in Debt Amid Gold Rout
Barrick Gold Corp. is offering to buy back some of its outstanding debt as the world’s largest bullion producer continues to sell asset sales amid a decline in gold prices.

The company will purchase as much as $750 million of notes, Toronto-based Barrick said Tuesday in a statement.

Barrick President Kelvin Dushnisky said this month the company is 90 percent through a $3 billion debt-reduction plan, and has had an “exceedingly high” level of interest for U.S. assets it has put up for sale.

Volledig persbericht bedrijf:
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 30 Sep 2015 08:19

Barrick Closes Innovative Gold and Silver Streaming Transaction with Royal Gold
TORONTO, September 29, 2015 — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or the "company") today announced that it has closed its previously announced gold and silver streaming transaction with RGLD Gold AG, a wholly-owned subsidiary of Royal Gold, Inc., for production referenced to Barrick's 60 percent interest in the Pueblo Viejo mine.

Barrick has received an upfront cash payment of $610 million and will receive continuing cash payments for gold and silver delivered under the agreement. Proceeds from the transaction will be used to reduce debt.

Distinctive characteristics of the agreement include:

Significant upside price participation for Barrick.

Not subject to a Barrick guarantee, and not treated as a debt-like obligation.

Obligation of Barrick to sell gold and silver under the agreement is serviced using after tax cash flow being remitted from the Dominican Republic.

Under the terms of the agreement, Barrick will sell gold and silver to Royal Gold equivalent to:

7.5 percent of Barrick’s interest in the gold produced at Pueblo Viejo until 990,000 ounces of gold have been delivered, and 3.75 percent thereafter.

75 percent of Barrick’s interest in the silver produced at Pueblo Viejo until 50 million ounces have been delivered, and 37.5 percent thereafter. Silver will be delivered based on a fixed recovery rate of 70 percent. Silver above this recovery rate is not subject to the stream.

Ongoing cash payments to Barrick are tied to prevailing spot prices rather than fixed in advance, maintaining material exposure to higher gold and silver prices in the future. Barrick will receive ongoing cash payments from Royal Gold equivalent to 30 percent of the prevailing spot prices for the first 550,000 ounces of gold and 23.1 million ounces of silver delivered. Thereafter payments will double to 60 percent of prevailing spot prices for each subsequent ounce of gold and silver delivered.

"This innovative agreement allows us to strengthen our balance sheet in the short term, while preserving material exposure to higher gold and silver prices in the future," said Barrick President Kelvin Dushnisky.

Barrick maintains its 60 percent equity ownership interest in Pueblo Viejo and its associated rights under the joint venture agreement with Goldcorp Inc., including operatorship of Pueblo Viejo. This transaction does not affect any of Pueblo Viejo’s obligations to the Dominican Government.

INVESTOR CONTACT:
Susan Muir
Senior Director
Investor Relations
Telephone: +1 416 307-5107
Email: s.muir@barrick.com

MEDIA CONTACT:
Andy Lloyd
Senior Vice President
Communications
Telephone: +1 416 307-7414
Email: alloyd@barrick.com
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Re: Barrick Gold Corporation

Berichtdoor charel01 » 01 Okt 2015 15:31

Barrick Closes Gold & Silver Streaming Deal with Royal Gold
Barrick Gold Corporation ABX has closed its earlier announced gold and silver streaming deal with RGLD Gold AG, a fully-owned subsidiary of Royal Gold, Inc. RGLD, for production linked to Barrick’s 60% interest in the Pueblo Viejo mine.

Barrick has received an upfront cash payment of $610 million and will get continuing cash payments for gold and silver delivered under the agreement. Proceeds from the transaction will be utilized to cut debt.

Per the deal, Barrick will sell gold and silver to Royal Gold equivalent to 7.5% of the former’s interest in the gold produced at Pueblo Viejo until 990,000 ounces of gold have been delivered, and 3.75% thereafter. Barrick will also sell gold and silver equivalent to 75% of its interest in the silver produced at Pueblo Viejo until 50 million ounces have been delivered, and 37.5%from then on. Silver will be delivered on the basis of a fixed recovery rate of 70%.

Barrick will get ongoing cash payments equivalent to 30% of the prevailing spot prices for the first 550,000 ounces of gold and 23.1 million ounces of silver delivered. After that, payments will double to 60% of prevailing spot prices for each subsequent ounce of gold and silver delivered. Ongoing cash payments to Barrick are tied to prevailing spot prices rather than fixed in advance.

Barrick will retain its 60% equity interest in Pueblo Viejo and its related rights under the joint venture deal with Goldcorp Inc. GG, including operatorship of Pueblo Viejo. The transaction will not impact any of Pueblo Viejo's obligations to the Dominican Government.

The deal brings considerable upside price participation for Barrick. It will not be subject to a Barrick guarantee, and will not be treated as a debt-like obligation. Barrick’s obligation to sell gold and silver under the deal is serviced using after tax cash flow being remitted from the Dominican Republic.
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