Randgold Rsrcs Stock Price, News & Analysis

Barrick Gold Corporation has completed the reconstitution of the Reko Diq project following a favorable Supreme Court ruling in Pakistan. The project, a major copper-gold venture, is owned 50% by Barrick and aims for a life of at least 40 years. The company is updating feasibility studies and plans to initiate production by 2028. The mine is expected to create 4,000 permanent jobs and contribute significantly to the economy of Balochistan, providing $70 million for social development and up to $50 million in advance royalties before production begins.

Barrick Gold Corporation (NYSE:GOLD) announced a credit rating upgrade from Moody's Investors Service, moving from Baa1 to A3 with a stable outlook. This upgrade reflects Barrick's excellent liquidity and improved capital structure, allowing for better flexibility amid gold price volatility. Since its last downgrade in 2015, Barrick has progressively improved its credit standing, showcasing strong overall business performance alongside record shareholder returns in 2021 and 2022.

Barrick Gold Corporation (NYSE:GOLD) announced the pricing terms of its tender offer for its 5.250% Notes due 2042, totaling $693.988 million. The total consideration for each $1,000 principal amount is $956.04, with an interest payment up to the settlement date, expected on November 23, 2022. The offer is set to expire today at 5:00 p.m. ET. Holders may withdraw up to the expiration date but must use guaranteed delivery procedures for later submissions. This move aims to enhance liquidity and manage its debt effectively.

Barrick Gold Corporation (NYSE:GOLD) emphasizes the need for a holistic approach to achieving the United Nations’ 17 Sustainable Development Goals (SDGs) by 2030. CEO Mark Bristow advocates for integrated solutions addressing economic prosperity, health, and climate change. Barrick's sustainability strategy is highlighted at COP27, showcasing their commitment to collaborative efforts in mining and socio-economic development, especially in emerging markets. The company aims to enhance community resilience and biodiversity through strategic partnerships and investments, driving benefits for all stakeholders.

Barrick Gold Corporation (NYSE:GOLD) announced strong growth prospects for the next 5 to 10 years, as highlighted by CEO Mark Bristow at an investor meeting. The $2.1 billion expansion at the Pueblo Viejo mine in the Dominican Republic is expected to upgrade 2 million ounces of inferred resources, extending its life to beyond 2040 with average production exceeding 800,000 ounces annually. Barrick maintains a strong balance sheet, transitioning from $4.2 billion net debt to $145 million net cash. The company continues to refine its sustainability approach, aiming for a 30% reduction in greenhouse gas emissions by 2030.

Barrick Gold Corporation (NYSE:GOLD) has initiated an offer to purchase cash for all its 5.250% Notes due 2042. The offer, outlined in the Offer to Purchase dated November 14, 2022, will expire on November 18, 2022. Holders may withdraw Notes until the Expiration Date, with settlement expected on November 23, 2022. Holders whose Notes are accepted will receive Total Consideration plus accrued interest. The offer is subject to specific conditions and does not require a minimum principal amount to be tendered. Barclays Capital, J.P. Morgan, and RBC Capital Markets are the dealer managers for this transaction.

Barrick Gold Corporation (NYSE:GOLD) reported its Q3 2022 results with net earnings of $241 million, down 51% year-over-year, and operating cash flow of $758 million. Despite operational challenges, production guidance remains on track, aided by improved grades at Nevada Gold Mines. The company declared a quarterly dividend of $0.15 per share, reflecting strong shareholder returns. Barrick continues its focus on sustainability and growth, with successful exploration initiatives and projects like Reko Diq in Pakistan moving forward towards production by 2027/2028.

Barrick Gold Corporation (NYSE:GOLD) announced a third-quarter dividend of $0.15 per share, in line with its Performance Dividend Policy. This dividend will be paid on December 15, 2022, to shareholders on record by November 30, 2022. The company has repurchased 18 million shares for $322 million under its buyback program. In total, Barrick has returned $1.2 billion to shareholders in 2022, and expects to exceed $1.4 billion in distributions from 2021. The company's strong operating performance supports these enhanced returns.