Barrick Gold ( (TSE:ABX) ) has provided an announcement.
Barrick Gold Corporation has announced the sale of its 50% stake in the Donlin Gold Project in Alaska to Paulson Advisers LLC and NOVAGOLD Resources Inc. for $1 billion in cash. The transaction allows Barrick to optimize its asset portfolio by exiting the project at an attractive valuation, while NOVAGOLD and Paulson will continue its development. The proceeds from the sale will be used to strengthen Barrick’s balance sheet and support its strategic focus on sustainable growth projects. The transaction is expected to close by mid-2025, pending regulatory approvals.
Spark’s Take on TSE:ABX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ABX is a Outperform.
Barrick Gold shows a robust financial performance with strong revenue growth and effective cash flow management. Technical indicators reflect positive market momentum, although valuation remains fair. The earnings call and recent corporate events provide a largely positive outlook, despite some operational challenges. Overall, the company is well-positioned within the gold industry, with potential for continued growth and profitability.
To see Spark’s full report on TSE:ABX stock, click here.
More about Barrick Gold
Barrick Gold Corporation is a leading company in the mining industry, primarily focused on the production of gold and copper. The company is known for its commitment to operating long-life, sustainable Tier One mining operations and advancing a portfolio of growth projects.
YTD Price Performance: 32.71%
Average Trading Volume: 25,853,615
Technical Sentiment Signal: Sell
Current Market Cap: $35.2B
Find detailed analytics on ABX stock on TipRanks’ Stock Analysis page.