Gold.com Stock Price, News & Analysis

Barrick Gold Corporation (NYSE:GOLD) reported a strong start to 2022 at its Kibali mine in the Democratic Republic of Congo, expecting to match 2021 production levels. The mine has successfully replaced depleted reserves and continues to explore growth opportunities in open pit and underground mining. Key initiatives include community agreements and infrastructure improvements, alongside investment in health programs with zero lost time injuries reported. Barrick's commitment extends to environmental conservation, including a plan to reintroduce white rhinos to Garamba National Park.

Barrick Gold Corporation (NYSE:GOLD) has entered a Purchase Agreement to sell 8,831,250 common shares of Skeena Resources Ltd. for C$132,468,750, equating to C$15.00 per share. Prior to this sale, Barrick held a 12.9% stake in Skeena, with shares acquired through warrants exercised on March 23, 2022. Following the sale, Barrick will no longer own any shares of Skeena. This move is part of Barrick's investment portfolio management strategy, with future transactions contingent on market conditions.

Barrick Gold Corporation (NYSE:GOLD) has reached a framework agreement with the governments of Pakistan and Balochistan to reconstitute the Reko Diq project, which was suspended since 2011 due to licensing disputes. The new project structure will equally split ownership between Barrick and Pakistan stakeholders, which include the government of Balochistan. Barrick will operate the project and plans to update feasibility studies, aiming for production within five to six years. The agreement is expected to bring significant economic benefits to Balochistan and Pakistan.

Barrick Gold Corporation (NYSE:GOLD) announces robust financial strategies in its 2021 annual report, revealing a significant transformation from over $4 billion in net debt post-Randgold merger to a net cash position. The company returned $2.5 billion to shareholders, including a record $1.4 billion last year. A new dividend policy featuring a base and performance dividend linked to net cash begins in 2022, alongside a $1 billion share buyback plan. This aims to buy back shares trading below their intrinsic value, ensuring sustained shareholder value.

Barrick Gold Corporation (NYSE:GOLD) is investing in capital projects to enhance its strong asset base, as detailed in the 2021 annual report by CEO Mark Bristow. The company is expanding into new regions like Japan, North Africa, and Latin America, focusing on exploration and sustainable practices. Barrick aims for greenhouse gas emission reductions and prioritizes socio-economic development in host countries. With a diverse workforce, 56% under 40 and increasing gender diversity among new hires, Barrick is committed to stakeholder value and operational agility.

Barrick Gold Corporation (NYSE:GOLD) announced a reduction in its ownership of Reunion Gold Corporation to approximately 9.9875% after Reunion's February 24, 2022, private placement. Barrick, which did not participate in the offering, continues to hold 81,150,000 common shares. The decrease in ownership leads to the termination of certain rights under their investor rights agreement, although Barrick retains a right of first refusal on specific mineral projects associated with Reunion. An early warning report will be filed to disclose this change.

Barrick's 2021 results reveal stable production, exceeding guidance for the third year, driven by strong performance in Africa & Middle East and Latin America. The company replenished its gold reserves at a better grade, achieving 150% replacement net of depletion. Free cash flow was robust at $1.4 billion, with net cash at $130 million, supporting an increased dividend of 11% to $0.10 per share and a $1 billion share buyback program. Barrick is advancing major growth projects while maintaining a commitment to sustainability, achieving a 95th percentile ranking in the Dow Jones Sustainability Index.

Barrick Gold Corporation (NYSE:GOLD) has announced a new share repurchase program, authorizing up to $1.0 billion for repurchasing its common shares within the next 12 months. This move is in response to the belief that current share prices do not reflect the company's underlying value and future prospects. The buyback will be executed in accordance with applicable laws, with factors such as financial performance and cash flow influencing the timing and extent of repurchases. The program does not obligate the company to repurchase a specific number of shares.

Barrick Gold Corporation (NYSE:GOLD) announced a quarterly dividend of $0.10 per share for Q4 2021, an 11% increase from the previous dividend of $0.09. This dividend, payable on March 15, 2022, rewards shareholders recorded by the close of business on February 28, 2022. Additionally, the company introduced a performance dividend policy that enhances shareholder returns based on net cash levels, with potential total dividends reaching $0.25 per share at the highest performance level.