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Barrick Gold Corp. - GOLD STOCK NEWS

Welcome to our dedicated page for Barrick Gold news (Ticker: GOLD), a resource for investors and traders seeking the latest updates and insights on Barrick Gold stock.

Barrick Gold Corp. (symbol: GOLD) is a leading global mining company headquartered in Toronto, Canada. Founded in 1983, Barrick operates gold and copper mines across 19 countries, including Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States, and Zambia. The company's stocks trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol ABX.

Core Business: Barrick Gold Corp. focuses on the exploration, development, and production of gold and copper, producing nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper in 2023. The company holds approximately two decades' worth of gold reserves and significant copper reserves.

Key Achievements: Barrick's recent achievements include the acquisition of Randgold in 2019 and forming a joint venture with Newmont for its Nevada mines. The company is also working on significant projects like the Reko Diq copper-gold project in Pakistan and the Lumwana Super Pit project in Zambia, which are expected to enhance its copper portfolio by 2028.

Financial Performance: In 2023, Barrick's gold production reached 4.05 million ounces and its copper output was 420 million pounds. The company's operating cash flows increased by 7% year-on-year to $3.7 billion, and free cash flow rose by 50% to $646 million. Net earnings increased by 200% to $0.72 per share, and adjusted net earnings increased by 12% to $0.84 per share.

Partnerships and Sustainability: Barrick's vision is to generate wealth responsibly, benefiting its owners, employees, and partner countries and communities. The company is committed to sustainability, evident in projects like environmental rehabilitation at the now-closed Buzwagi mine in Tanzania. Barrick's holistic approach aligns with the United Nations' Sustainable Development Goals (SDGs) and aims to deliver measurable outcomes that benefit both the environment and local communities.

Strategic Outlook: Barrick aims to sustain its industry-leading organic growth outlook, projecting a 30% increase in gold equivalent production by the end of the decade. The company is also focusing on expanding its copper production, with projects like the Reko Diq copper-gold project and the Lumwana Super Pit expected to significantly contribute to its portfolio.

Recent News: Barrick announced its fourth quarter and full-year 2023 results, highlighting a strong financial performance and the declaration of a dividend of $0.10 per share. The company also announced a new share buyback program for up to $1.0 billion of its outstanding common shares.

  • Fourth Quarter and Full Year 2023 Results: Barrick achieved a robust financial performance despite challenges in the first half of the year.
  • Sustainability Initiatives: Barrick continued its environmental and community-focused projects in regions like Tanzania and Zambia.
  • Strategic Projects: Significant progress was made on key projects like the Pueblo Viejo expansion in the Dominican Republic and the Goldrush project in Nevada.
News

Kibali and DRC Partner to Promote Local Content

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Barrick Gold Corporation collaborates with ARSP to enhance local content initiatives at Kibali gold mine in the DRC, emphasizing support for local businesses and employment of Congolese nationals. Kibali has already spent over $2.6 billion with local suppliers and employs 95% Congolese workforce.
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Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara

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Tanzania's Parliamentary Standing Committee commends Barrick Gold Corporation for the turnaround at the North Mara gold mine and improved community relations. The delegation was impressed with the mine's operations, economic contribution, environmental management, and community development projects.
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Clear Strategies and Strong Partnerships Set Barrick Up to Outperform, Says Bristow

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Barrick Gold Corporation reports strong fourth-quarter and full-year 2023 results, with increased gold and copper production, robust financial performance, and sustainable growth outlook. The company's financials show a 7% rise in operating cash flows, a 50% increase in free cash flow, and a 200% rise in net earnings per share. Barrick maintains a strong balance sheet with almost no net debt and significant reserve growth. The company also announces a dividend of $0.10 per share and a new $1.0 billion share buyback program.
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Barrick Announces New Share Buyback Program

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Barrick Gold Corporation (NYSE:GOLD) announces a new $1.0 billion share repurchase program, replacing the 2023 program. The company aims to buy back common shares over the next 12 months at market prices. Barrick repurchased $424 million in 2022. The program allows purchases through various methods, with no obligation to acquire a specific number of shares.
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Barrick Declares Q4 Dividend

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Barrick Gold Corporation declares a dividend of $0.10 per share for the fourth quarter of 2023, in line with its Performance Dividend Policy. The dividend will be paid on March 15, 2024, to shareholders of record as of February 29, 2024.
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NGM Strongly Positioned for Growth

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Nevada Gold Mines (NGM) under Barrick Gold Corporation (NYSE:GOLD) shows strong performance and growth prospects in 2024. Key highlights include record production at Cortez, Goldrush project development, and renewable energy initiatives. Investments in skilled labor and community infrastructure aim to sustain long-term success.
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Geologically Driven Asset Management Delivers Barrick’s Third Successive Year of Reserve Growth at Sustained Quality, While Unlocking Embedded Growth Portfolio

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Barrick Gold Corporation (GOLD) has reported a 5 million ounce increase in attributable proven and probable gold mineral reserves before 2023 depletion, reaching a total of 77 million ounces at 1.65g/t. The company also replaced over 140% of gold reserve depletion since the end of 2019, adding almost 29 million ounces of proven and probable reserves. Additionally, Barrick replaced 124% of annual global copper depletion, maintaining 5.6 million tonnes of attributable proven and probable copper mineral reserves at 0.39% in 2023. The company's strategy of investing in organic growth through exploration and mineral resource management aims to increase the production profile to approximately 6.5 million gold equivalent ounces per year by the end of this decade.
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Africa’s Largest Gold Mine Now Also One of Its Greenest

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Barrick Gold Corporation announces Kibali, the largest gold mine in Africa, as one of the greenest mines on the continent. The mine's renewable electricity supply is expected to increase from 81% to 85%, with 6 months of the year being entirely met by renewable energy. The mine has made significant contributions to the local economy and community development in the Democratic Republic of Congo. Operationally, Kibali achieved its production guidance for 2023 and set a new annual throughput record.
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Barrick Continues to be a Major Value Creator for Mali

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Barrick Gold Corporation has been a valuable partner to Mali for 27 years, contributing almost $10 billion to the Malian economy and accounting for 5-10% of Mali's GDP over the past 10 years. The company has developed a world-class local skill base and its flagship Loulo-Gounkoto complex is managed by an entirely Malian team. The complex ranks among the world’s largest gold producers and continues to identify new high-priority targets for future discoveries. Barrick is also committed to increasing its use of renewable energy sources and has completed community development projects in Mali.
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Barrick’s Lumwana Super Pit Project On Track for First Production in 2028

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Barrick Gold Corporation accelerates the Lumwana copper mine's Super Pit expansion project, transforming it into one of the world's major copper mines with an annual production of around 240,000 tonnes per year over a +30-year life. The estimated cost of the project is almost $2 billion, with construction scheduled to start towards the end of this year. Since 2019, Lumwana has contributed almost $3 billion to the Zambian economy in the form of royalties, taxes, salaries, and local procurement. Barrick has also launched a Business Accelerator Program to build the business capacity of Zambian contractors in its supply chain. The REDD+ initiative aims to uplift host communities through forest conservation, with resources already allocated and engagement with the communities underway.
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FAQ

What is the current stock price of Barrick Gold (GOLD)?

The current stock price of Barrick Gold (GOLD) is $15.46 as of December 20, 2024.

What is the market cap of Barrick Gold (GOLD)?

The market cap of Barrick Gold (GOLD) is approximately 26.9B.

What does Barrick Gold Corp. do?

Barrick Gold Corp. is a global mining company focusing on the exploration, development, and production of gold and copper.

Where is Barrick Gold Corp. headquartered?

Barrick Gold Corp. is headquartered in Toronto, Canada.

What are Barrick Gold Corp.'s key achievements?

Key achievements include acquiring Randgold in 2019, forming a joint venture with Newmont, and working on significant projects like the Reko Diq copper-gold project in Pakistan.

How did Barrick Gold Corp. perform financially in 2023?

In 2023, Barrick's operating cash flows increased by 7% to $3.7 billion, free cash flow rose by 50% to $646 million, and net earnings increased by 200% to $0.72 per share.

What is Barrick Gold Corp.'s approach to sustainability?

Barrick focuses on responsible mining and sustainability, aligning its initiatives with the United Nations' Sustainable Development Goals (SDGs) to deliver measurable environmental and community benefits.

What are Barrick Gold Corp.'s future plans?

Barrick aims to increase its gold equivalent production by 30% by the end of the decade and expand its copper production through projects like the Reko Diq and Lumwana Super Pit.

Where are Barrick Gold Corp.'s shares traded?

Barrick Gold Corp.'s shares trade on the New York Stock Exchange (symbol: GOLD) and the Toronto Stock Exchange (symbol: ABX).

What recent news has Barrick Gold Corp. announced?

Recent news includes the company's fourth quarter and full-year 2023 results, a dividend declaration, and a new $1.0 billion share buyback program.

How much gold and copper did Barrick produce in 2023?

In 2023, Barrick produced 4.05 million ounces of gold and 420 million pounds of copper.

What sustainability projects is Barrick involved in?

Barrick is involved in environmental rehabilitation projects, such as the Buzwagi mine in Tanzania, and initiatives to provide potable water to communities near its mines.

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Barrick Gold Corp.

NYSE:GOLD

GOLD Rankings

#434 Ranked by Market Cap
#1208 Ranked by Dividends

GOLD Stock Data

26.88B
1.74B
0.61%
61.93%
0.87%
Gold
Basic Materials
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United States of America
Toronto