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Barrick Gold Corporation - $GOLD STOCK NEWS

Welcome to our dedicated page for Barrick Gold Corporation news (Ticker: $GOLD), a resource for investors and traders seeking the latest updates and insights on Barrick Gold Corporation 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.
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Barrick Gold and Zijin Mining Group have announced a $1 million contribution to aid communities in Papua New Guinea's Enga province following a devastating landslide in Mulitaka, which claimed approximately 600 lives. The aid includes monetary and in-kind contributions, with the Porgera gold mine providing additional support such as manpower, relief supplies, and construction equipment. Barrick's efforts are coordinated with various international and national bodies to streamline relief and recovery operations. The mine has also sourced containers for relief supplies and is evaluating the use of radar for monitoring the affected area.

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Barrick Gold (NYSE:GOLD) announced in its 2023 Sustainability Report that almost $12 billion in economic value generated from its mines remained in the operating countries. The report highlights Barrick's commitment to sustainable development, aligning with the UN's Sustainable Development Goals. In 2023, 97% of Barrick’s employees were host country nationals, and $43 million was invested in Community Development Committees for various local initiatives. Safety improvements were noted with a 21% reduction in Lost Time Injury Frequency Rate and a 33% decrease in malaria incidence. Barrick achieved its 2025 target for reducing greenhouse gas emissions by 15%, already surpassing it with a 16% reduction from the 2018 baseline. The company also recycled 84% of its water usage and continues to focus on biodiversity conservation, exemplified by the successful reintroduction of white rhinos in the Democratic Republic of Congo.

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Barrick Gold announces an exploration partnership with Geophysx Jamaica, granting Barrick access to 4,000 square kilometers of land in Jamaica. The agreement allows Barrick to earn up to an 80% joint-venture interest in designated properties. Geophysx Jamaica is a leading mineral exploration company committed to responsible exploration. The partnership aims to leverage Geophysx's expertise and Barrick's resources to accelerate the discovery of new resources in Jamaica.

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Barrick Gold reported its Q1 results showing steady gold and copper production growth to meet full year targets. Despite lower production due to delays and maintenance, the company's financials saw a significant increase in net earnings and operating cash flow. Barrick is progressing major organic growth projects and maintaining a strong focus on exploration, sustainability, and value delivery. The company remains on track to achieve its 2024 targets, with a positive outlook for its copper projects and sustainable energy initiatives.

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Barrick Gold (NYSE:GOLD)(TSX:ABX) has declared a dividend of $0.10 per share for Q1 2024, in line with its Performance Dividend Policy. The dividend will be paid on June 17, 2024, to shareholders of record on May 31, 2024. This decision reflects the company's strong balance sheet and global asset base, ensuring continued shareholder returns and business growth.

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Barrick Gold announced the election of directors at the 2024 Annual Meeting of Shareholders. Voting results for directors, auditors, executive compensation, and shareholder proposal were provided. Notable victories include Mark Bristow, Isela A. Costantini, and Andrew J. Quinn. The investor and media relations contact information is also available.

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Barrick Gold is on track to achieve its 2024 targets with preliminary Q1 production of 940 thousand ounces of gold and 40 thousand tonnes of copper. The company expects production to increase each quarter, with higher costs in Q1 due to lower production levels. Barrick remains focused on meeting its full-year gold and copper guidance.
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Barrick Gold (NYSE:GOLD)(TSX:ABX) will release its Q1 2024 results on May 1, 2024, with a live presentation by President and CEO Mark Bristow. Preliminary production, sales, and cost information will be released on April 16, 2024. Participants can join an interactive webinar linked to a conference call on the release day.
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Barrick Gold , after a transformational merger with Randgold Resources, has restructured itself into a modern mining business with a global asset base of high quality. The company aims for sustainable profitability and sustainability as core activities. Barrick has made significant progress in various projects, such as the Reko Diq project in Pakistan and the Porgera gold mine in Papua New Guinea. The company's balance sheet has improved, allowing it to fund growth projects and take advantage of new opportunities. Barrick's Board focuses on diversity and renewal, with virtual meetings for shareholders being held. The company's footprint spans 18 countries across four continents, focusing on gold and copper regions.
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Barrick Gold announces plans to invest in new gold and copper opportunities in partnership with the government of the DRC based on the success of Kibali, Africa's largest gold mine. The company highlights its commitment to local contractors and suppliers, renewable energy transition, and biodiversity preservation.
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FAQ

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.

Barrick Gold Corporation

NYSE:GOLD

GOLD Rankings

GOLD Stock Data

28.14B
1.74B
0.62%
63.69%
0.71%
Gold Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
Toronto