07:11:29 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,125,848
Close 2020-11-05 C$ 38.48
Market Cap C$ 68,422,282,631
Recent Sedar Documents

Globe says Barrick's Bristow opts for cash conservation

2020-11-06 07:59 ET - In the News

The Globe and Mail reports in its Friday edition that Barrick Gold chief executive officer Mark Bristow says it is too early to jack up the company's dividend in a big way, amid the continuing chaos of the COVID-19 pandemic and uncertainty over the outcome of the U.S. election. The Globe's Nially McGee writes that aided by record high gold prices and lower taxes, Barrick on Thursday swept past expectations in the third quarter, reporting a net profit of $882-million (all figures U.S.). Historically sought out as an investment refuge in times of extreme financial stress, gold bullion has been one of the best-performing asset classes this year. While Barrick on Thursday said it is increasing its dividend by 12.5 per cent to nine U.S. cents a share, the bump was notably smaller than some of its senior gold mining peers. Mr. Bristow told The Globe that he felt no pressure to follow the herd. "Right now, we are still in an uncharted phase of this global pandemic and the consequential meltdown of global economies and, on top of that, heightened geopolitical risk across the globe," he said. "I just think it's prudent to wait a little longer, to ensure that we've got clearer visibility regarding the runway ahead of us."

© 2024 Canjex Publishing Ltd. All rights reserved.