Latest news with #MiningCorporation
Yahoo
24-07-2025
- Business
- Yahoo
Barrick Mining's Cash-Fueled Capital Return Strategy Signals Upside
Barrick Mining Corporation B is harnessing its robust cash flow and healthy balance sheet to reward its shareholders, reinforcing its position as a capital return-focused gold producer. It generated strong operating cash flows of roughly $4.5 billion in 2024, with a significant portion funneled back to investors. Barrick returned about $1.2 billion to its shareholders in 2024 through dividends and repurchases. Barrick's board, in February 2025, authorized a new program for the repurchase of up to $1 billion of its outstanding common shares. It repurchased shares worth $143 million under this program and paid dividends worth $172 million during the first quarter. The company's commitment to a sustainable base dividend, bolstered by performance-linked distributions, also reflects a disciplined approach to capital allocation. The performance-linked dividend policy enhances shareholder returns when its liquidity is strong. Barrick offers a dividend yield of 1.8% at the current stock price with a payout ratio of 28% (a ratio below 60% is a good indicator that the dividend will be sustainable). B ended the first quarter with cash and cash equivalents of around $4.1 billion. Barrick's solid liquidity position and healthy cash flow position it well to take advantage of attractive development and exploration opportunities while driving shareholder value. It has ample financial flexibility to continue returning capital while investing in organic its major peers, Newmont Corporation NEM has already delivered $1 billion to its shareholders through dividends and share repurchases since the beginning of 2025. Newmont generated a record free cash flow of $1.2 billion in the first quarter, reflecting strong financial health supporting growth initiatives and shareholder returns. Newmont is well-placed to strengthen its balance sheet and continue returning capital to its shareholders following the completion of its divestment Eagle Mines Limited AEM is capitalizing on robust free cash flow to aggressively enhance shareholder value through dividends and share repurchases. Last year, Agnico Eagle returned nearly $1 billion to its shareholders. In the first quarter, Agnico Eagle delivered a robust free cash flow of $594 million and returned around 42% of that through dividends and buybacks. B's Price Performance, Valuation & Estimates Barrick's shares have surged 39.4% year to date compared with the Zacks Mining – Gold industry's rise of 58.7%, courtesy of the gold price rally. Image Source: Zacks Investment Research From a valuation standpoint, B is currently trading at a forward 12-month earnings multiple of 9.81, a roughly 23.4% discount when stacked up with the industry average of 12.8X. It carries a Value Score of A. Image Source: Zacks Investment Research The Zacks Consensus Estimate for B's 2025 and 2026 earnings implies a year-over-year rise of 55.6% and 23.1%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days. Image Source: Zacks Investment Research B stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. 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 Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Barrick Mining Corporation (B) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
15-07-2025
- Business
- Globe and Mail
Can Barrick Mining's $2B Lumwana Expansion Power a New Era of Growth?
Barrick Mining Corporation 's B $2 billion Super Pit Expansion Project at its Lumwana mine is progressing steadily, accelerating its shift into a Tier One copper mine. The gold giant recently stated that the Lumwana expansion is the result of a significant turnaround, transforming the mine from an underperforming asset into a vital part of both its global copper portfolio and Zambia's long-term development strategy. The Super Pit expansion entails doubling the present process circuit's throughput and substantially boosting mining volumes. Upon completion, the project has the potential to transform Lumwana into a long-term, high-yielding, top-25 copper producer and Tier One copper mine. The expansion project will double Lumwana's copper output to 240,000 tons annually, supported by a new processing plant with a capacity of 50 million tons per year. Construction at the site is in progress, long-lead equipment has been ordered and infrastructure improvements, including a new power transmission system in collaboration with ZESCO, are advancing to benefit both the mine and the surrounding region. The advancements at Lumwana are significant for future growth as Barrick remains entangled in a dispute with the Malian government over dividing the economic benefits from its Loulo-Gounkoto gold mine complex. Barrick also remains on track with its other high-return growth projects, underscoring a disciplined strategy that could reshape its production profile over the next decade. These assets are poised to deliver significant, low-cost production growth, enhancing Barrick's diversification and free cash flow profile should it execute these on schedule and within budget. Among its major peers, Newmont Corporation NEM continues to invest in growth projects in a calculated manner. Newmont is pursuing several projects, including Tanami Expansion 2 in Australia, the Ahafo North expansion in Ghana and Cadia Panel Caves in Australia. These projects should expand production capacity and extend mine life, driving Newmont's revenues and profits. Agnico Eagle Mines Limited AEM is also making steady progress with its key value drivers and pipeline projects, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas. Agnico Eagle's Hope Bay project is expected to play a significant role in generating cash flow in the years to come. At Canadian Malartic, Agnico Eagle is advancing the transition to underground mining with the construction of the Odyssey mine and executing other opportunities to beef up annual production. B's Price Performance, Valuation & Estimates Barrick's shares have surged 37% year to date compared with the Zacks Mining – Gold industry's rise of 53%, courtesy of the gold price rally. From a valuation standpoint, B is currently trading at a forward 12-month earnings multiple of 9.8, a roughly 22.3% discount when stacked up with the industry average of 12.61X. It carries a Value Score of A. The Zacks Consensus Estimate for B's 2025 and 2026 earnings implies a year-over-year rise of 52.4% and 23.8%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days. B stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> 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 Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Barrick Mining Corporation (B): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Globe and Mail
16-06-2025
- Business
- Globe and Mail
Barrick Holding Firm Through ICSID Arbitration Amid Malian Court Ruling
TORONTO, June 16, 2025 (GLOBE NEWSWIRE) -- Barrick Mining Corporation (NYSE:B)(TSX:ABX) confirms that the International Centre for Settlement of Investment Disputes (ICSID) arbitration process — initiated under the binding Mining Conventions between Barrick subsidiaries and the State of Mali — is fully underway. The arbitration tribunal has been constituted, and Barrick has submitted a request for provisional measures to prevent further escalation and to safeguard its rights under binding Mining Conventions with the State of Mali. The arbitration tribunal's consideration of the case is even more important in light of today's decision by the Bamako Commercial Tribunal to place the Loulo-Gounkoto complex under temporary provisional administration, at the request of the Malian government. While Barrick's subsidiaries remain the legal owners of the mine, operational control has been transferred to an external administrator. This ruling follows actions by the Malian government to block gold exports and seize gold stocks belonging to Barrick's subsidiaries — measures Barrick believes to be unjustified and which led to the temporary suspension of operations. These developments occurred despite Barrick's ongoing efforts to reach a constructive and sustainable resolution. While the company has made a number of good faith concessions in the spirit of partnership, it cannot accept terms that would compromise the legal integrity or long-term viability of the operations. Barrick remains guided by its core values. The ongoing detention of its employees — who remain unjustly imprisoned and used as leverage in this process — is deeply concerning and inconsistent with the trust, transparency and accountability required for a genuine long-term partnership. To date, no credible rationale has been presented to justify this detention and the Government's position, and the Government's ever-increasing demands have lacked both factual and legal foundation. Resolution of the current situation is not merely a matter of concluding a transaction. It requires a foundation of mutual respect, sound governance, and long-term partnership. Unfortunately, the current process has seen setbacks in dialogue and unilateral actions by the Government which risk damaging Mali's economic credibility and standing as an investment destination. For nearly three decades, Barrick has been a committed partner to Mali, supporting economic development and local communities. That commitment remains but so does Barrick's responsibility to uphold the rights of its employees, protect shareholder value, and defend the legal framework under which it operates. Importantly, while the ICSID process is fully underway, Barrick remains committed to engaging with the Government of Mali, in parallel, to identify a constructive, mutually acceptable solution. Arbitration is a neutral and internationally recognized dispute resolution mechanism and it does not preclude continued dialogue. Barrick's consistent preference is to resolve differences through engagement based on mutual respect, legal certainty, and a shared commitment to long-term partnership. Website: Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes 'forward-looking statements'. All statements, other than statements of historical fact, are forward-looking statements. The words 'continue', 'intended', 'committed', 'engage', 'negotiate', 'pursue' and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: the status of the gold stock removed from site; the outcome of dispute resolution through arbitration; the status of negotiations with the Government of Mali in respect of ongoing disputes regarding the Loulo-Gounkoto Complex and Barrick's commitment to reach a mutually acceptable solution; the potential to increase the Government of Mali's share in the economic benefits of Loulo-Gounkoto; and Loulo-Gounkoto's partnership with the Government of Mali. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Mali and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; risks related to disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
