02:59:05 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,751,981,799
Close 2019-04-25 C$ 17.33
Market Cap C$ 30,361,844,577
Recent Sedar Documents

Globe says Newmont Goldcorp tops earnings expectations

2019-04-26 06:55 ET - In the News

See In the News (C-NGT) Newmont Goldcorp Corp

The Globe and Mail reports in its Friday edition that Newmont Goldcorp has topped earnings expectations. The Globe's Niall McGee writes that last week, Newmont Goldcorp closed its $10-billion acquisition of Goldcorp Inc. (all figures U.S.). The deal vaulted Newmont Goldcorp ahead of Barrick Gold, making it the biggest gold miner by production, value and reserves. As part of the deal, Newmont Goldcorp acquired new mines and development projects across North and South America. Newmont Goldcorp previously said the combination should lead to cost savings of $365-million a year. On Thursday, Newmont Goldcorp issued its results for the first quarter ended March 31, before the Goldcorp acquisition had closed. Newmont Goldcorp earned net income of $113-million or 21 cents a share, down from $176-million or 32 cents in the same period last year. The fall in profit was mainly owing to integration costs from acquiring Goldcorp. On an adjusted basis, profit was 33 cents, six cents higher than predicted. However, Newmont Goldcorp gave little or no insight into how Goldcorp as a standalone performed during the first quarter and financials for the weeks leading up the close of the deal were not released either.

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