TSX:ABX

Stock Analysis Report

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Executive Summary

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. More Details


Snowflake Analysis

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

How has Barrick Gold's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ABX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.8%

ABX

-0.9%

CA Metals and Mining

-1.0%

CA Market


1 Year Return

57.2%

ABX

54.1%

CA Metals and Mining

-4.3%

CA Market

Return vs Industry: ABX exceeded the Canadian Metals and Mining industry which returned 54.2% over the past year.

Return vs Market: ABX exceeded the Canadian Market which returned -4.2% over the past year.


Shareholder returns

ABXIndustryMarket
7 Day-2.8%-0.9%-1.0%
30 Day-2.3%-1.2%1.3%
90 Day-7.5%-1.2%1.9%
1 Year59.1%57.2%55.3%54.1%-0.9%-4.3%
3 Year94.1%87.5%58.2%55.1%6.4%-4.0%
5 Year268.6%251.5%151.2%143.4%33.3%12.8%

Price Volatility Vs. Market

How volatile is Barrick Gold's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Barrick Gold undervalued compared to its fair value and its price relative to the market?

10.79x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ABX (CA$35.96) is trading above our estimate of fair value (CA$30.76)

Significantly Below Fair Value: ABX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ABX is good value based on its PE Ratio (11x) compared to the CA Metals and Mining industry average (23.8x).

PE vs Market: ABX is good value based on its PE Ratio (11x) compared to the Canadian market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: ABX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ABX is good value based on its PB Ratio (2.2x) compared to the CA Metals and Mining industry average (2.8x).


Next Steps

Future Growth

How is Barrick Gold forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

-26.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ABX's earnings are forecast to decline over the next 3 years (-26.5% per year).

Earnings vs Market: ABX's earnings are forecast to decline over the next 3 years (-26.5% per year).

High Growth Earnings: ABX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ABX's revenue is expected to decline over the next 3 years (-3.8% per year).

High Growth Revenue: ABX's revenue is forecast to decline over the next 3 years (-3.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ABX's Return on Equity is forecast to be low in 3 years time (5.2%).


Next Steps

Past Performance

How has Barrick Gold performed over the past 5 years?

51.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ABX has a large one-off gain of $4.2B impacting its June 30 2020 financial results.

Growing Profit Margin: ABX became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ABX has become profitable over the past 5 years, growing earnings by 51.6% per year.

Accelerating Growth: ABX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ABX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (78.5%).


Return on Equity

High ROE: ABX's Return on Equity (17.9%) is considered low.


Next Steps

Financial Health

How is Barrick Gold's financial position?


Financial Position Analysis

Short Term Liabilities: ABX's short term assets ($6.9B) exceed its short term liabilities ($1.8B).

Long Term Liabilities: ABX's short term assets ($6.9B) do not cover its long term liabilities ($12.6B).


Debt to Equity History and Analysis

Debt Level: ABX's debt to equity ratio (16.6%) is considered satisfactory.

Reducing Debt: ABX's debt to equity ratio has reduced from 97.9% to 16.6% over the past 5 years.

Debt Coverage: ABX's debt is well covered by operating cash flow (74.6%).

Interest Coverage: ABX's interest payments on its debt are well covered by EBIT (11.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Barrick Gold current dividend yield, its reliability and sustainability?

0.74%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ABX's dividend (0.73%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.69%).

High Dividend: ABX's dividend (0.73%) is low compared to the top 25% of dividend payers in the Canadian market (5.78%).


Stability and Growth of Payments

Stable Dividend: ABX is not paying a notable dividend for the Canadian market, therefore no need to check if payments are stable.

Growing Dividend: ABX is not paying a notable dividend for the Canadian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: ABX is not paying a notable dividend for the Canadian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ABX's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Dennis Bristow (61 yo)

1.75yrs

Tenure

US$17,368,738

Compensation

Dr. Dennis Mark Bristow, Ph.D., serves as President, Chief Executive Officer and Director at Barrick Gold Corporation since January 1, 2019. He has been Director and Non-Executive Chairman at Midway Resour ...


CEO Compensation Analysis

Compensation vs Market: Dennis's total compensation ($USD17.37M) is above average for companies of similar size in the Canadian market ($USD7.07M).

Compensation vs Earnings: Insufficient data to compare Dennis's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
John Thornton
Executive Chairman & Member of International Advisory Board6.5yrsUS$5.55m0.14%
$ 87.5m
Dennis Bristow
President1.75yrsUS$17.37m0.29%
$ 187.9m
Graham Shuttleworth
Senior EVP & CFO1.75yrsUS$6.27m0.029%
$ 18.3m
Kevin Thomson
Senior Executive Vice President of Strategic Matters6yrsUS$5.48m0.0041%
$ 2.6m
Mark Hill
Chief Operating Officer of Latam & Asia Pacificno dataUS$4.78m0.00055%
$ 351.7k
Deni Nicoski
Senior Vice President of Investor Relations2.67yrsno datano data
Rich Haddock
General Counsel5.92yrsno datano data
Lois Wark
Group Corporate Communications & Investor Relations Executive1.75yrsno data0.0067%
$ 4.3m
Darian Rich
Human Resources Executiveno datano data0.0059%
$ 3.8m
Robert Krcmarov
Executive Vice President of Exploration & Growth15.75yrsno data0.0034%
$ 2.2m
Catherine Raw
Chief Operating Officer of North America5.42yrsUS$4.62m0.0054%
$ 3.4m
Mike Estes
Chief Financial Officer of Barrick Nevadano datano datano data

4.0yrs

Average Tenure

60yo

Average Age

Experienced Management: ABX's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Thornton
Executive Chairman & Member of International Advisory Board6.5yrsUS$5.55m0.14%
$ 87.5m
Dennis Bristow
President1.75yrsUS$17.37m0.29%
$ 187.9m
M. Mulroney
Chairman of International Advisory Boardno dataUS$1.20mno data
Gustavo A. Cisneros
Member of International Advisory Board & Independent Director17.08yrsUS$320.00k0.00062%
$ 396.4k
J. Harvey
Lead Independent Director6.83yrsUS$385.00k0.0016%
$ 1.0m
Andrónico Mariano Luksic Craig
Member of International Advisory Boardno datano datano data
Vernon Jordan
Member of International Advisory Boardno datano datano data
William Cohen
Member of International Advisory Boardno datano datano data
Charles Powell
Member of International Advisory Boardno datano datano data
Christopher Coleman
Independent Director1.75yrsUS$330.00k0.0068%
$ 4.4m
José Aznar
Member of International Advisory Boardno datano datano data
Karl-Theodor Zu Guttenberg
Member of International Advisory Boardno datano datano data

6.5yrs

Average Tenure

68yo

Average Age

Experienced Board: ABX's board of directors are considered experienced (4.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ABX insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Barrick Gold Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Barrick Gold Corporation
  • Ticker: ABX
  • Exchange: TSX
  • Founded: 1983
  • Industry: Gold
  • Sector: Materials
  • Market Cap: CA$63.939b
  • Shares outstanding: 1.78b
  • Website: https://www.barrick.com

Number of Employees


Location

  • Barrick Gold Corporation
  • Brookfield Place, TD Canada Trust Tower
  • Suite 3700
  • Toronto
  • Ontario
  • M5J 2S1
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ABXTSX (The Toronto Stock Exchange)YesCommon SharesCACADMay 1983
GOLDNYSE (New York Stock Exchange)YesCommon SharesUSUSDMay 1983
ABXSWX (SIX Swiss Exchange)YesCommon SharesCHCHFMay 1983
0R22LSE (London Stock Exchange)YesCommon SharesGBGBPMay 1983
ABRDB (Deutsche Boerse AG)YesCommon SharesDEEURMay 1983
ABRXTRA (XETRA Trading Platform)YesCommon SharesDEEURMay 1983
GOLD NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNMay 1983
ABRDBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURMay 1983
ABXBVL (Bolsa de Valores de Lima)YesCommon SharesPEUSDMay 1983
GOLDBASE (Buenos Aires Stock Exchange)CEDEAR EACH REP 1 COM NPVARARSMar 2004

Biography

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 00:50
End of Day Share Price2020/10/22 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.