Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Acacia Mining    ACA   GB00B61D2N63

ACACIA MINING

(ACA)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Acacia Mining Shares Drop on Prospect of Barrick Takeover to Solve Tax Dispute

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/22/2019 | 04:28am EDT

By Adam Clark

Acacia Mining shares fell on Wednesday after its board said it would consider a takeover proposal from former parent Barrick Gold Corp, as a possible way to resolve its dispute with the Tanzanian government.

Barrick, which still has a 64% stake in Acacia, said late Tuesday that it had proposed acquiring the London-listed miner via a stock swap of 0.153 Barrick share for each share of Acacia it doesn't already own.

The deal implies a value for Acacia of $787 million and total consideration to Acacia's minority shareholders of $285 million, Barrick said.

Acacia shares at 0753 GMT traded down 4.6% at 152.10 pence, valuing the company at 623.7 million pounds ($793.1 million).

Acacia has been locked in a tax dispute in Tanzania, which canceled mining licenses for many companies, raised taxes and royalty payments and accused the company of underreporting gold and copper production. Barrick said Tuesday that the basis for a settlement has been developed but the Tanzanian government has refused to enter into a deal directly with Acacia.

The board of Acacia said it would seek clarification of the Tanzanian government's position and advised shareholders to take no action in the meantime.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

Stocks mentioned in the article
ChangeLast1st jan.
ACACIA MINING 2.70% 175.2 Delayed Quote.-6.98%
BARRICK GOLD CORP 1.93% 19.02 Delayed Quote.3.20%
GOLD 0.59% 1347.58 Delayed Quote.4.39%
RANDGOLD RESOURCES -1.71% 6546 Delayed Quote.0.00%
VALUE8 -0.36% 5.56 Delayed Quote.17.72%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ACACIA MINING
06/17MAJEDIE ASSET MANAGEMENT LTD : Form 8.3 - ACACIA MINING PLC
PU
06/17INVESTEC ASSET MANAGEMENT LIMITED : - Form 8.3 - Acacia Mining Plc
PR
06/17ACACIA MINING : Form 8.5 (EPT/RI) - Acacia Mining plc
PU
06/17ACACIA MINING : Form 8.3 - Acacia Mining Plc
PU
06/14ACACIA MINING : Form 8.5 (EPT/NON-RI) Acacia Mining Plc
PU
06/14ACACIA MINING : Form 8.3 - Barrick Gold Corporation
PU
06/14ACACIA MINING : Form 8.5 (EPT/RI) - Acacia Mining plc
PU
06/14MAJEDIE ASSET MANAGEMENT LTD : Form 8.3 - ACACIA MINING PLC
AQ
06/14INVESTEC ASSET MANAGEMENT LIMITED : - Form 8.3 - Acacia Mining Plc
PR
06/14ACACIA MINING : Form 8.3 - Acacia Mining Plc
PU
More news
Financials ($)
Sales 2019 718 M
EBIT 2019 139 M
Net income 2019 78,2 M
Finance 2019 211 M
Yield 2019 -
P/E ratio 2019 10,16
P/E ratio 2020 8,64
EV / Sales 2019 0,94x
EV / Sales 2020 0,85x
Capitalization 885 M
Chart ACACIA MINING
Duration : Period :
Acacia Mining Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ACACIA MINING
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 2,76 $
Spread / Average Target 27%
EPS Revisions
Managers
NameTitle
Peter Geleta Chief Executive Officer & Executive Director
Rachel English Chairman
Jaco Maritz Chief Financial Officer
André Falzon Independent Non-Executive Director
Stephen Galbraith Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ACACIA MINING-6.98%834
NEWMONT MINING CORPORATION3.69%27 564
BARRICK GOLD CORP3.20%23 020
NEWCREST MINING LIMITED37.25%15 041
POLYUS PAO--.--%10 722
AGNICO EAGLE MINES LTD14.59%10 657