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ABX

Barrick Gold TSX:ABX Stock Report

Last Price

CA$22.76

Market Cap

CA$40.4b

7D

-5.4%

1Y

-11.2%

Updated

30 Jun, 2022

Data

Company Financials +
ABX fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance2/6
Financial Health5/6
Dividends4/6

ABX Stock Overview

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

Barrick Gold Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Barrick Gold
Historical stock prices
Current Share PriceCA$22.76
52 Week HighCA$33.50
52 Week LowCA$22.30
Beta0.072
1 Month Change-12.16%
3 Month Change-27.08%
1 Year Change-11.23%
3 Year Change7.87%
5 Year Change11.90%
Change since IPO149.43%

Recent News & Updates

May 06
Here's Why Barrick Gold (TSE:ABX) Can Manage Its Debt Responsibly

Here's Why Barrick Gold (TSE:ABX) Can Manage Its Debt Responsibly

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Shareholder Returns

ABXCA Metals and MiningCA Market
7D-5.4%-3.6%1.0%
1Y-11.2%-17.8%-4.7%

Return vs Industry: ABX exceeded the Canadian Metals and Mining industry which returned -14.8% over the past year.

Return vs Market: ABX underperformed the Canadian Market which returned -3.7% over the past year.

Price Volatility

Is ABX's price volatile compared to industry and market?
ABX volatility
ABX Average Weekly Movement4.3%
Metals and Mining Industry Average Movement11.0%
Market Average Movement10.1%
10% most volatile stocks in CA Market17.3%
10% least volatile stocks in CA Market4.4%

Stable Share Price: ABX is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ABX's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1983n/aDennis Bristowhttps://www.barrick.com

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, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States. The company also has ownership interests in producing copper mines located in Chile, Saudi Arabia, and Zambia; and various other projects located throughout the Americas and Africa.

Barrick Gold Fundamentals Summary

How do Barrick Gold's earnings and revenue compare to its market cap?
ABX fundamental statistics
Market CapUS$31.38b
Earnings (TTM)US$1.92b
Revenue (TTM)US$11.88b

16.3x

P/E Ratio

2.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ABX income statement (TTM)
RevenueUS$11.88b
Cost of RevenueUS$7.11b
Gross ProfitUS$4.78b
Other ExpensesUS$2.85b
EarningsUS$1.92b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.08
Gross Margin40.19%
Net Profit Margin16.18%
Debt/Equity Ratio15.6%

How did ABX perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

35%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ABX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ABX?

Other financial metrics that can be useful for relative valuation.

ABX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.3x
Enterprise Value/EBITDA6.2x
PEG Ratio-8.7x

Price to Earnings Ratio vs Peers

How does ABX's PE Ratio compare to its peers?

ABX PE Ratio vs Peers
The above table shows the PE ratio for ABX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average26.4x
FNV Franco-Nevada
33.8x-0.6%CA$32.4b
WPM Wheaton Precious Metals
21.7x-0.8%CA$20.9b
K Kinross Gold
20.3x5.3%CA$6.0b
YRI Yamana Gold
29.7x2.7%CA$5.8b
ABX Barrick Gold
16.3x-1.9%CA$40.4b

Price-To-Earnings vs Peers: ABX is good value based on its Price-To-Earnings Ratio (16.3x) compared to the peer average (26.4x).


Price to Earnings Ratio vs Industry

How does ABX's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

Price-To-Earnings vs Industry: ABX is expensive based on its Price-To-Earnings Ratio (16.3x) compared to the Canadian Metals and Mining industry average (10.9x)


Price to Earnings Ratio vs Fair Ratio

What is ABX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ABX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.3x
Fair PE Ratio13.5x

Price-To-Earnings vs Fair Ratio: ABX is expensive based on its Price-To-Earnings Ratio (16.3x) compared to the estimated Fair Price-To-Earnings Ratio (13.5x).


Share Price vs Fair Value

What is the Fair Price of ABX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ABX (CA$22.76) is trading below our estimate of fair value (CA$57.9)

Significantly Below Fair Value: ABX is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

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


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Future Growth

How is Barrick Gold forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-1.9%

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 (-1.9% per year).

Earnings vs Market: ABX's earnings are forecast to decline over the next 3 years (-1.9% per year).

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

Revenue vs Market: ABX's revenue (0.9% per year) is forecast to grow slower than the Canadian market (6.4% per year).

High Growth Revenue: ABX's revenue (0.9% per year) is forecast to grow slower than 20% 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 (7.7%).


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Past Performance

How has Barrick Gold performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


19.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ABX has high quality earnings.

Growing Profit Margin: ABX's current net profit margins (16.2%) are lower than last year (19.2%).


Past Earnings Growth Analysis

Earnings Trend: ABX's earnings have grown by 19.8% per year over the past 5 years.

Accelerating Growth: ABX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ABX had negative earnings growth (-21.9%) over the past year, making it difficult to compare to the Metals and Mining industry average (-6%).


Return on Equity

High ROE: ABX's Return on Equity (9.7%) is considered low.


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Financial Health

How is Barrick Gold's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ABX's short term assets ($9.0B) exceed its short term liabilities ($2.2B).

Long Term Liabilities: ABX's short term assets ($9.0B) do not cover its long term liabilities ($12.4B).


Debt to Equity History and Analysis

Debt Level: ABX has more cash than its total debt.

Reducing Debt: ABX's debt to equity ratio has reduced from 68.9% to 15.6% over the past 5 years.

Debt Coverage: ABX's debt is well covered by operating cash flow (80.3%).

Interest Coverage: ABX's interest payments on its debt are well covered by EBIT (14.4x coverage).


Balance Sheet


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Dividend

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

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.83%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ABX's dividend (2.83%) is higher than the bottom 25% of dividend payers in the Canadian market (2.02%).

High Dividend: ABX's dividend (2.83%) is low compared to the top 25% of dividend payers in the Canadian market (5.35%).


Stability and Growth of Payments

Stable Dividend: ABX's dividend payments have been volatile in the past 10 years.

Growing Dividend: ABX's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35.2%), ABX's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (56.4%), ABX's dividend payments are covered by cash flows.


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Management

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

3.4yrs

Average management tenure


CEO

Dennis Bristow (62 yo)

3.42yrs

Tenure

US$14,476,815

Compensation

Dr. Dennis Mark Bristow, Ph D., serves as Member of International Advisory Board at Barrick Gold Corporation since 2022. He serves as President, Chief Executive Officer and Director at Barrick Gold Corpora...


CEO Compensation Analysis

Compensation vs Market: Dennis's total compensation ($USD14.48M) is above average for companies of similar size in the Canadian market ($USD8.63M).

Compensation vs Earnings: Dennis's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ABX's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: ABX's board of directors are considered experienced (7.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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 employee growth, exchange listings and data sources


Key Information

  • Name: Barrick Gold Corporation
  • Ticker: ABX
  • Exchange: TSX
  • Founded: 1983
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: CA$40.418b
  • Shares outstanding: 1.78b
  • Website: https://www.barrick.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.