Latest news with #GOLD
Scottish Sun
21-05-2025
- General
- Scottish Sun
Prized ‘Bucket of Death' was stuffed with remains of ‘dead VIP' in bombshell Anglo Saxon Sutton Hoo discovery
That's not the only impressive find inside the bucket either KICKED THE BUCKET Prized 'Bucket of Death' was stuffed with remains of 'dead VIP' in bombshell Anglo Saxon Sutton Hoo discovery Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MYSTERIOUS bucket found at Sutton Hoo in 1986 was stuffed with the remains of a dead VIP, archaeologists believe. This "bucket of death" contains the cremated remnants of both human and animal bones – solving a decades-old mystery. 8 The Bromeswell bucket is a Byzantine copper-alloy contained that was stuffed with human remains Credit: PA 8 The 'Bucket of Death' is remarkably well preserved despite dating back 1,400 to 1,500 years Credit: PA 8 Archaeologists unearthed the base of the bucket in the most recent discovery at Sutton Hoo Credit: FAS Heritage Archaeologists say that the human remains found inside the posh Byzantine bucket belonged to an "important person". The so-called Bromeswell Bucket was discovered at Sutton Hoo in Suffolk, an archaeological treasure trove with two major Anglo-Saxon burial sites dating back around 1,500 years. The site is famous for its undisturbed ship burial, which was found back in 1938. Pieces of the copper-alloy bucket have been unearthed over the decades, with a fresh discovery last year. Read more on archaeology STRUCK GOLD Breakthrough as ring unlocking secrets of 'vanished' kingdom is unearthed in UK The latest find was made by TV show Time Team working with the National Trust and FA Heritage. "Because of its proximity to fragments discovered much earlier, we had hoped this year's dig would yield more of the Bromeswell Bucket," said Angus Wainwright, of the National Trust. "Which originated from the Byzantine empire in the 6th century – around a hundred years before the ship and its extraordinary treasure was put to rest." Wainwright continued: "Thanks to closer inspection, we now believe that the bucket had been previously damaged and then repaired. "In-depth analysis of the metals suggest it might even have been soldered back together." The bucket contains a "very norther, very Germanic cremation", according to Time Team archaeologist Helen Geake. 'Once in a century' Pompeii discovery as ancient luxury SPA is saved from ashes with thermal baths & stunning mosaic "It epitomises the strangeness of Sutton Hoo - it has ship burials, horse burials, mound burials and now bath-bucket burials," she told the BBC. DIG IN! The discovery was made at Garden Field, which has now been fully metal detected. All of the items found at the site have been recorded in 3D and will be processed – so more discoveries might be on the horizon. The bucket itself has been a longstanding mystery for scientists. 8 Sutton Hoo is an iconic archaeological site in Britain, and is the location of a well-preserved Anglo Saxon ship burial Credit: Getty - Contributor 8 This replica shows an Anglo Saxon helmet like the ones found at Sutton Hoo Credit: PA:Press Association 8 Replicas of the treasures found at Sutton Hoo show the craftsmanship of the people who used the site in Anglo Saxon times Credit: PA:Press Association It's decorated with a mysterious hunting scene that depicts naked warriors fighting with lions. And it has an inscription in Greek that says: "Use this in good health, Master Count, for many happy years". The latest dig unearthed the base of the bucket, which was packed with cremated remains. "We knew that this bucket would have been a rare and prized possession back in Anglo-Saxon times, but it's always been a mystery why it was buried," Wainwright said. 8 Archaeologists have even recreated a replica of the Anglo Saxon burial ship found at Sutton Hoo Credit: Alamy "Now we know it was used to contain the remains of an important person in the Sutton Hoo community. "I'm hopeful that further analysis will uncover more information about this very special burial." DECADES-LONG MYSTERY The bucket has been found in several parts, with the first discovery made in 1986. More parts were unearthed in 2012, with a fresh lot discovered in the latest Time Team digs. SUTTON HOO EXPLAINED Here's what you need to know... Sutton Hoo is an important archaeological site. It's the location of Anglo-Saxon cemeteries dating back to the 6th and 7th centuries. The site is located near Woodbridge in Suffolk, UK. Excavations began in 1938 with the discovery of a ship burial packed with Anglo-Saxon treasures. Countless artefacts have been found at the site since then – with treasures still turning up today. The name Sutton Hoo comes from Old English with Sutton meaning "southern farmstead" and Hoo referring to "shaped like a heel spur". Picture Credit: Getty Images The bucket's base contained a burned comb with remarkably well-preserved teeth. Archaeologists believe it was likely made from an antler belonging to a deer. The human remains are believed to belong to a high-status individual, while the cremated animal bones have been linked to an animal that's "larger than a pig", like a horse. This may have been a way of showcasing the elite status of the person whose remains were stored in the bucket. 8 Sutton Hoo is the site of Anglo Saxon burial mounds Credit: Alamy Human remains include parts of a skull and ankle bone. Details on the age and sex of the individual haven't been revealed, by archaeologists hope to probe the comb for long-lost DNA that may shed light on the person inside the bucket. "This year's dig has been fantastic, and we've really been able to piece together part of a 40-year mystery and unearth a new chapter in the Sutton Hoo story," said Time Team creator Tim Taylor. He described Sutton Hoo as "England's Valley of the Kings'."
India Today
12-05-2025
- Science
- India Today
Biggest solar storm heated Earth's atmosphere, generated largest electrical current
One year after the most severe geomagnetic storm in two decades struck Earth, NASA scientists continue to unravel its big the Gannon storm in honour of space weather physicist Jennifer Gannon, the May 10, 2024, event began as a training exercise for US agencies-a simulation that abruptly became real.'Our hypothetical scenario was interrupted by a very real one,' said Jamie Favors, director of NASA's Space Weather Ground and Air DisruptionsThe storm triggered cascading effects on Earth's the US Midwest, GPS-guided tractors veered off-course, compounding planting delays from heavy spring affected lost an average of $17,000 each. Trans-Atlantic flights rerouted to avoid radiation spikes and navigation failures, while power grids faced transformer overheating and tripped high-voltage UpheavalThe thermosphere, Earth's upper atmospheric layer, heated to a record 1,150C, causing it to expand and loft heavy nitrogen particles higher. NASA's GOLD mission captured this expansion, which increased satellite drag. ICESat-2 entered safe mode, and the CIRBE CubeSat deorbited prematurely. The ionosphere-a critical layer for radio communications-warped into a checkmark shape, creating a temporary equatorial and Radiation BeltsThe storm generated the largest electrical currents in Earth's magnetosphere in 20 years, observed by NASA's MMS and THEMIS-ARTEMIS waves along coronal mass ejections (CMEs) dumped energy into the magnetosphere, while two new temporary radiation belts formed between the Van Allen belts-a discovery critical for astronaut and spacecraft Auroras and Scientific InsightsAuroras lit skies worldwide, with NASA's Aurorasaurus project logging 6,000 reports from 55 Japan, magenta hues puzzled scientists until imaging revealed the lights originated 600 miles high-200 miles above typical red auroras-due to nitrogen and oxygen mixing in the storm-heated atmosphere. Though the Gannon storm caused no catastrophes, it shows vulnerabilities in satellite operations, agriculture, and aviation.'These findings are helping us prepare for the next big storm,' Favors noted. With solar activity peaking in 2025, NASA's data will refine predictive models, ensuring safer navigation through the Sun's Watch
Yahoo
07-05-2025
- Business
- Yahoo
How to Boost Your Portfolio with Top Basic Materials Stocks Set to Beat Earnings
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important. The earnings figure itself is key, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb even higher. 2 Stocks to Add to Your Watchlist The Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information. With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to look at a qualifying stock. Barrick Gold (GOLD) holds a Zacks Rank #3 at the moment and its Most Accurate Estimate comes in at $0.30 a share one day away from its upcoming earnings release on May 7, 2025. GOLD has an Earnings ESP figure of 1.59%, which, as explained above, is calculated by taking the percentage difference between the $0.30 Most Accurate Estimate and the Zacks Consensus Estimate of $0.29. GOLD is just one of a large group of Basic Materials stocks with a positive ESP figure. Pan American Silver (PAAS) is another qualifying stock you may want to consider. Pan American Silver, which is readying to report earnings on May 7, 2025, sits at a Zacks Rank #2 (Buy) right now. It's Most Accurate Estimate is currently $0.20 a share, and PAAS is one day out from its next earnings report. Pan American Silver's Earnings ESP figure currently stands at 3.95% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0.19. Because both stocks hold a positive Earnings ESP, GOLD and PAAS could potentially post earnings beats in their next reports. Find Stocks to Buy or Sell Before They're Reported Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
Globe and Mail
02-05-2025
- Business
- Globe and Mail
Should You Buy Barrick Gold Stock Ahead of Q1 Earnings?
Barrick Gold Corporation GOLD is slated to come up with first-quarter 2025 results before the opening bell on May 7. The company's performance is expected to reflect higher gold prices amid cost headwinds. The Zacks Consensus Estimate for first-quarter earnings has been revised 26.1% upward in the past 60 days. The consensus estimate for earnings is pegged at 29 cents per share, suggesting a 52.6% year-over-year rise. GOLD beat the Zacks Consensus Estimate for earnings in three of the last four quarters. In this timeframe, it delivered an earnings surprise of roughly 12%, on average. Q1 Earnings Whispers for GOLD Stock Our proven model does not conclusively predict an earnings beat for GOLD this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that's not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. GOLD has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Factors Shaping GOLD's Q1 Results Higher gold prices are likely to have supported the company's performance in the March quarter. Gold prices are shooting up this year as worries over the global trade war have boosted safe-haven demand for bullion. The price rally has been driven by a surge in safe-haven demand amid the intense trade tussle, global economic uncertainties and a weaker U.S. dollar. Prices of the yellow metal climbed nearly 19% in the first quarter and are already up roughly 23% this year. Weaker production is expected to have impacted GOLD's performance in the first quarter. The consensus estimate for production for the to-be-reported quarter stands at 710,000 ounces, reflecting a decline of around 34% sequentially and 24% from the year-ago quarter. The company, during its fourth-quarter call, provided a tepid forecast for 2025, with attributable gold production expected in the range of 3.15-3.5 million ounces, excluding production from Loulo-Gounkoto, which is temporarily suspended. While a potential restart of the mine would provide an upside, this projection suggests a year-over-year decline. Higher production from Pueblo Viejo, Turquoise Ridge, Porgera and Kibali, along with stable performance across Carlin and Cortez, is expected to be offset by reduced production across Veladero and Phoenix. Higher year-over-year production costs are likely to have weighed on the company's first-quarter results. In the fourth quarter of 2024, cash costs per ounce of gold increased around 7% year over year, while AISC rose roughly 6%. For 2025, GOLD projects total cash costs per ounce of $1,050-$1,130 and AISC in the range of $1,460-$1,560 per ounce. These projections suggest a year-over-year increase at the midpoint of the respective ranges. Barrick Stock's Price Performance and Valuation GOLD's shares have gained 11.6% over the past year, underperforming the Zacks Mining – Gold industry's 47.2% increase while topping the S&P 500's rise of 8.7%. Among its peers, Newmont Corporation NEM, Kinross Gold Corporation KGC and Agnico Eagle Mines Limited AEM have racked up gains of 26.6%, 115.6% and 73.1%, respectively, over the same period. GOLD's One-year Stock Price Performance Image Source: Zacks Investment Research From a valuation standpoint, GOLD is currently trading at a forward 12-month earnings multiple of 10.76, lower than its five-year median. This represents a roughly 28.1% discount when stacked up with the industry average of 14.96X. Investment Thesis for GOLD Stock Barrick is well-positioned to benefit from the progress in key growth projects that should significantly contribute to its production. Its major gold and copper growth projects are advancing per schedule and within budget, which underpins the next generation of profitable production. GOLD has a robust liquidity position and generates healthy cash flows, which positions it well to take advantage of attractive development, exploration and acquisition opportunities, as well as drive shareholder value and reduce debt. Surging gold prices should translate into strong profit margins and free cash flow generation. GOLD is challenged by higher costs, which may eat into its margins. Increased mine-site sustaining capital spending, higher labor costs and potentially steeper energy costs may lead to higher costs. Final Thoughts: Hold Onto GOLD Shares GOLD is well-placed with a strong pipeline of growth projects, solid financial health, healthy growth trajectory and favorable gold market conditions. The strength in gold prices should also boost its profitability and drive cash flow generation. Despite these positives, its high production costs warrant caution. Holding onto the GOLD stock will be prudent for investors who already own it, awaiting more clarity on the company's prospects following its forthcoming earnings release. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Barrick Gold Corporation (GOLD): Free Stock Analysis Report
Yahoo
27-03-2025
- Business
- Yahoo
Barrick Gold Corp.: African Assets Are Hurting The Bottom Line.
Barrick Gold (NYSE:GOLD) announced its earnings for the fourth quarter and full year of 2024 on February 12, 2025. This article updates my Gurufocus article from December 2, 2024, in which I analyzed the third quarter of 2024. Warning! GuruFocus has detected 5 Warning Signs with SMCI. Barrick Gold, based in Toronto, Canada, operates some of the largest gold mines in the world, located in North America, South America, Africa, and the Middle East. By the end of 2024, the company reported total gold mineral reserves of 89 million ounces and approximately 18 million tons of copper. The mineral reserves have significantly increased following the release of the feasibility study for the Reko Diq project in Pakistan and Lumwana in northwestern Zambia. When comparing reserves among two of Barrick's main competitors, we find that Newmont Corporation (NYSE:NEM) reported attributable proven and probable gold mineral reserves of 134.1 million ounces and 13.5 million tons of copper. In contrast, Agnico Eagle (NYSE:AEM) reported gold reserves of 54.3 million ounces and 0.35 million tons of copper. This figure includes 50% of the St. Nicholas project in Mexico and the Upper Beaver project in Canada. Barrick Gold produced a record 3,911 K gold ounces and 64 million tons of copper in 2024, up from 4,054 K ounces of gold and 48 million tons of copper in 2023. The revenue for 2024 was a record $12.9 billion, up 13.4% year over year. In my article about Newmont Corporation, I discussed the potential for a merger between Barrick Gold and Newmont Corporation, and I highly recommend reading it. This merger could make the stocks of both companies more appealing to investors who are disappointed with their recent performance, especially with gold closing at $2,924 per ounce today. The chart comparison below illustrates that GOLD and NEM have significantly underperformed the group. Recent analysis indicates that GOLD and NEM have significantly underperformed compared to gold bullion and even copper over the past three years, as shown in the chart below. This paradox has generated numerous hypotheses, but investors remain cautious about the current situation. They are looking for changes to make GOLD a more successful category. In my article about NEM, I suggested the possibility of a merger between NEM and GOLD, as both stocks have consistently lagged behind the gold sector for years. A merger between the two companies could be highly beneficial. However, NEM and GOLD will face significant challenges in achieving this goal. Additionally, a key incentive for GOLD is to increase its dividends to a minimum yield of around 3.5% and buy back more shares. The important factor is that free cash flow is growing significantly, especially with gold prices approaching $3,000 per ounce. Free cash flow could reach $1+ billion in 1Q25 alone. A reminder: Besides the quarterly dividends, Barrick repurchased 28.675 million shares in 2024 under the share buyback program announced in February 2024, including 21 million shares in the fourth quarter. One important weakness for Barrick comes from the difficult geographic location of some of its mines, especially in West Africa and Papua New Guinea (Porgera). Barrick Gold experienced so many issues in Africa that it would take three articles to cover the topic fully. However, let's talk about the most recent issue. The Loulo-Gounkoto complex in Mali has become the center of a major dispute between Barrick Gold and the government of Mali. The government claimed that Barrick's operations in the country owed substantial taxes. As a result, around three metric tons of gold, valued at approximately $245 million, have been seized from the mining site by the Malian Junta, which has been in power since 2020. This prompted Barrick to temporarily suspend operations at the complex. The situation is nearing resolution, but we are still waiting for the Mali government's signature on the documents. According to Reuters: In February 2025, Barrick agreed to pay $438 million to the Malian government. This settlement facilitated the release of detained employees, return of seized gold, and resumption of operations at the Loulo-Gounkoto mine. The agreement is pending formal approval by Mali's government, with an official announcement expected soon. Yes, it's no typo: Barrick is willing to pay $438 million to resume its operations in Mali, which might not be the end of the drama. Furthermore, neighboring countries could draw inspiration from Mali's situation and make their own claims. We all remember what happened with the North Mara gold in Tanzania. Barrick Gold Corporation announced its fourth-quarter 2024 earnings on February 12, 2025, showing a strong financial performance. The company reported earnings per share of $0.57, which exceeded analyst expectations, compared to $0.27 in 4Q23. Revenue for the quarter was $3.645 billion, reflecting a 19.2% increase year-over-year. Barrick Gold's EBITDA was $2,411 million in 4Q24, up from $1,349 million last year. Gold revenue accounted for 91.3% of total revenue in 4Q24, as illustrated in the chart below: Barrick's attributable gold production in the fourth quarter reached 1,080,000 ounces (sold 965,000 ounces), representing a 2.5% increase compared to the previous year. Furthermore, Barrick Gold produced 64 million tons of copper in 4Q24, an increase from 51 million tons in 4Q23. Barrick Gold reported an average realized gold price of $2,657 per ounce, which is a 7.3% increase compared to the previous quarter and a 34.8% increase year over year. During the same period, the average realized copper price decreased by 7.3% quarter over quarter to $3.96 per pound. However, the copper price rose 4.8% year over year. The gold production comes from about 14 producing mines, as shown below: Randgold's production comes from three African mines: Loulo-Gounkoto in Mali, Kibali in the Democratic Republic of the Congo (DRC), and Tongon in Cote d'Ivoire. The Carlin and Cortez operations in Nevada include the Goldrush and Fourmile sites, with Fourmile being a key development project for Barrick Gold. Barrick owns the Fourmile Project, an advanced exploration and development initiative near the Cortez Complex in Nevada. It is recognized as one of the highest-grade gold discoveries in North America. While Barrick fully owns the Fourmile Project, there is potential for its integration into the Nevada Gold Mines joint venture under certain conditions, though that is still several years away. AISC rose by approximately 6.37% to $1,451 per ounce this quarter. However, the company significantly reduced AISC compared to the prior quarter, as shown in the chart below. Total debt remains stable at $4.729 billion, while cash, cash equivalents, and marketable securities total $4.074 billion. After accounting for total cash, Barrick's net debt is $655 million. Given its strong cash flow and liquidity, Barrick's debt situation looks quite manageable. Conversely, Newmont Corporation reported a net debt of $5.308 billion (total debt jumped with the Newcrest acquisition). Barrick Gold reported significant increases in its mineral reserves in 2024. The attributable proven and probable gold mineral reserves rose by approximately 23%, bringing the total to 89 million ounces at a grade of 0.99 grams per tonne (g/t), up from 77 million ounces at a grade of 1.65 g/t in 2023. Additionally, copper mineral reserves experienced a remarkable increase of over 220% due to the Reko Diq project, as previously indicated. Although Barrick Gold has fewer gold reserves than Newmont Corporation, it leads in copper-attributable reserves, holding 18 million tons compared to Newmont's 13.5 million tons. Based on profit margins of 42%a significant increase from 27% last yearalong with a gold price of $3,000 per ounce and a copper price of $4.43 per pound, the fair value of Barrick Gold's stock is estimated to be around $65 per share. Unfortunately, GOLD is far from reaching this valuation and is trading around $19.33 now. Like many important gold stocks, gold appears cheap compared to its proven and probable reserves, which now include the Reko Diq project in Balochistan, Pakistan. However, this undervaluation appears to be justified by the low quality of some of the company's assets, especially those located in Africa. I previously discussed the Loulo-Gounkoto mining complex in Mali, which is facing operational disruptions due to a dispute with the Malian government over new mining laws and tax claims. Barrick Gold has also encountered ongoing issues for several years, especially with the former Acacia mine in Tanzania, now referred to as the North Mara, Bulyanhulu, and Buzwagi mines. Even the large copper-gold project, Reko Diq, is located in a politically unstable region with active insurgencies. I could also talk about Porgera mine in Papua New Guinea. Furthermore, Barrick's all-in-sustaining costs (AISC) have exceeded those of its peers. These factors, along with the inherent geopolitical and operational risks in some African regions, have increased investor concerns, putting downward pressure on Barrick Gold's stock price. Finally, Barrick Gold offers a low dividend despite generating substantial free cash flow. Its dividend yield is approximately 1.6% after Canadian 25% withholding tax, significantly lower than that of its oil industry peers. These significant issues explain why GOLD is lagging behind its peers. Hopefully, management will become more shareholder-friendly in 2025. This article first appeared on GuruFocus. Sign in to access your portfolio
