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    ABX   CA0679011084

BARRICK GOLD CORPORATION

(ABX)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-09-26 pm EDT
19.48 CAD   -0.92%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

TSX rises as Barrick boosts miners after profit beat

08/08/2022 | 10:24am EDT

* Barrick Gold leads gains across miners

* Nutrien edges higher as Ken Seitz named CEO

* Cenovus to buy remaining 50% stake in Toledo refinery from BP

Aug 8 (Reuters) - Canada's main stock index rose on Monday as miner Barrick Gold Corp led gains among miners after it reported a quarterly profit that beat analysts' estimates.

The lack of any significant negative catalysts on Monday also helped lift sentiment, according to analysts.

"Now when there's no news, it seems the market is gradually moving higher again," said Allan Small, senior investment adviser at Allan Small Financial Group.

Barrick posted higher copper output for the quarter. Meanwhile, inflation drove the miner's cost of production up.

"I think everyone's getting hit with inflation. Overall a company like Barrick cut costs in other areas, so I think it can withstand inflationary pressures," Small said.

The mining index rose 1.3% and was among the top gainers in early trading, with higher copper and gold prices also boosting the sector.

At 10:02 a.m. ET (1402 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 132.64 points, or 0.68%, at 19,752.77.

Cenovus Energy Inc rose 1.6% after the company said it will buy the remaining 50% stake it does not already own in Ohio-based BP-Husky Toledo Refinery for $300 million from British energy firm BP PLC.

The energy sector climbed 0.2% as U.S. crude prices were up 0.1% a barrel, while Brent crude added 0.3%.

Nutrien Ltd edged 0.5% higher after the world's largest fertilizer producer named Ken Seitz as chief executive.

The TSX ended Friday with its third straight day of modest gains, but was down 0.4% for the week.

Data on Friday showed Canada reported 30,600 positions were shed, while the unemployment rate stayed at a record low of 4.9%, but a rise in energy shares amid higher oil prices helped the stock index close higher.

Investors across the globe were also awaiting the release of key U.S. inflation data later this week. (Reporting by Johann M. Cherian and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORPORATION -0.92% 19.48 Delayed Quote.-18.25%
BP PLC -0.73% 429.95 Delayed Quote.30.09%
CENOVUS ENERGY INC. -4.57% 20.04 Delayed Quote.35.40%
LONDON BRENT OIL 0.62% 84.59 Delayed Quote.11.32%
NUTRIEN LTD. -0.35% 112.3 Delayed Quote.18.53%
WTI 0.65% 77.247 Delayed Quote.5.54%
All news about BARRICK GOLD CORPORATION
10:11aRBC Capital Markets Says Barrick's Nevada Gold Mines Joint Venture With Newmont On Trac..
MT
09/23Barrick Gold on Track for Lowest Close Since June 2019 -- Data Talk
DJ
09/23Skeena Resources Closes $34.5 Million Bought Deal Offering of Common Shares
MT
09/23Kin Mining Appoints New Exploration Manager for Western Australia's Cardinia Project
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09/22Barrick Gold Brief: Bristow Was Speaking During a Visit By a Group of..
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09/22Barrick Gold Brief: Since Formation of JV 3 Yrs Ago, Nevada Gold Mine..
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09/22Investment in Future Secures NGM's Status as Industry Leader
AQ
09/21RBC Capital Markets Says Barrick Failed To Find Right M&A Opportunity In Canada Over Pa..
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09/20NuLegacy Gold Says Suspended Drilling Program Near Barrick Gold Mines
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09/20Gold Closes With a Loss as the Dollar and Bond Yields Rise Ahead of Higher US Interest ..
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More news
Analyst Recommendations on BARRICK GOLD CORPORATION
More recommendations
Financials (USD)
Sales 2022 11 750 M - -
Net income 2022 1 712 M - -
Net cash 2022 420 M - -
P/E ratio 2022 13,9x
Yield 2022 4,69%
Capitalization 25 608 M 25 347 M -
EV / Sales 2022 2,14x
EV / Sales 2023 2,07x
Nbr of Employees 17 500
Free-Float 99,4%
Chart BARRICK GOLD CORPORATION
Duration : Period :
Barrick Gold Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BARRICK GOLD CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 14,49 $
Average target price 22,44 $
Spread / Average Target 54,9%
EPS Revisions
Managers and Directors
Dennis Mark Bristow President, CEO & Non-Independent Director
Graham Patrick Shuttleworth Chief Financial Officer
John Lawson Thornton Co-Chairman
Gustavo A. Cisneros Independent Director
Joseph Brett Harvey Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BARRICK GOLD CORPORATION-18.25%25 608
NEWMONT CORPORATION-33.49%32 739
POLYUS-35.94%19 716
AGNICO EAGLE MINES LIMITED-26.48%17 775
WHEATON PRECIOUS METALS CORP.-24.78%13 595
NEWCREST MINING LIMITED-35.62%9 762