Barrick Gold completes merger with Randgold Resources; trades under the ticker GOLD

• The Canadian Barrick Gold (ABX) has merged with the British Randgold Resources (GOLD) on January 1, 2019.  
• The new company is still known as Barrick but its trading symbol on the NYSE will change to GOLD, the ticker formerly held by Randgold on NASDAQ. On the TSX, the ticker remains ABX.
• Gold miners' bearish cycle may have ended in mid-October. The probability of a golden cross occurring in early 2019 is now significantly high.

Barrick Gold (ABX) (old)

Barrick Gold (GOLD) (new)

 

Golden cross on $GOLD

It's the first bell of 2019, and the NYSE is celebrating the successful merger between Barrick Gold with Randgold Resources with their new ticker $GOLD

Barrick executive chairman John L. Thornton (center), and Mark Bristow, president and chief executive officer (center left), open the New York Stock Exchange on January 2, 2019. 

• The $18.3 billion-deal, which gained final approval in December, has created a sector-leading miner which owns five of the industry’s Top 10 Tier One gold assets and which is well placed to be the world’s most valued gold mining business, Barrick said in the statement.

The merger has created a sector-leading gold company which owns five of the industry’s Top 10 Tier One gold assets1 (Cortez and Goldstrike in Nevada, USA (100%); Kibali in DRC (45%); Loulo-Gounkoto in Mali (80%); and Pueblo Viejo in Dominican Republic (60%)), and two with the potential to become Tier One gold assets (Goldrush/Fourmile (100%) and Turquoise Ridge (75%), both in the USA). Barrick has the lowest total cash cost2 position among its senior gold peers3, and a diversified asset portfolio positioned for growth in many of the world’s most prolific gold districts.

Barrick approach community relations in Nevada (source)

The Summer Youth Employment Program, a Barrick-funded initiative, allows Shoshone youth aged 14 to 18 to gain valuable work experience in their communities. This past summer alone, 136 students participated in the program, performing jobs ranging from painting to community maintenance to elder care.

Shoshone interns. In all, Barrick provided funding for 18 Shoshone summer interns to work in their communities this past summer.

Rebecca Darling is Director of Corporate Social Responsibility for Barrick in the U.S.A.

Randgold Resources Limited (GOLD) to be acquired by Barrick Gold (ABX) for $18.3B

• Toronto-based Barrick will own around two-thirds of the combined group, the companies said in a statement Monday, with Randgold's Mark Bristow serving as CEO and Barrick's John Thorton keeping his role as executive chairman. 
• The newly-created group will have a market value of around $18.3 billion, hold five of the world's ten largest bullion deposits and have the ability to produce around 5.5 million ounces of gold each year. 

  

 

Randgold Resources confirms merger with Barrick Gold (ABX) 

Under the terms of the Merger, each Randgold Shareholder will receive 6.1280 New Barrick Shares for each Randgold Share. Following completion of the Merger, Barrick Shareholders will own approximately 66.6 per cent and Randgold Shareholders will own approximately 33.4 per cent of the New Barrick Group on a fully-diluted basis. The Merger is expected to close by Q1 2019.

• The Boards of Barrick and Randgold believe that the Merger will create an industry-leading gold company with the greatest concentration of Tier One Gold Assets in the industry, the lowest total cash cost position among Senior Gold Peers, and a diversified asset portfolio positioned for growth in many of the world's most prolific gold districts.
• Based on Barrick and Randgold's Closing Prices as of 21 September 2018 (being the last business day prior to the date of this announcement), the New Barrick Group will have an aggregate market capitalization of USD 18.3 billion. In addition, based on the 2017 financial results for both companies, the New Barrick Group would have generated aggregate revenue of approximately USD 9.7 billion and aggregate Adjusted EBITDA2 of approximately USD 4.7 billion.

Barrick Gold (ABX) enters investment agreement with Shandong Gold Group which will purchase up to $300 million of Barrick shares 
Shandong Gold will purchase up to $300 million of Barrick shares, and Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co. Ltd., a publicly listed company controlled by Shandong Gold. Shares will be purchased in the open market. Barrick and Shandong Gold are 50-50 joint venture partners at the Veladero mine in Argentina, the first step in the partnership between the two companies.

** charts before  **

** ABX **

 

** GOLD **

 

Randgold Resources Limited (GOLD) : 4-month performance

Randgold (GOLD) — is it a buy?

• Dec. 24: Is GOLD a buy?

• 7 weeks later:  NO

Randgold (GOLD) — is it a buy?

• Sept. 24: Is GOLD a buy?

• 3 months later: NO

IBD 50 - October 8, 2012

Description: The IBD 50 is a list of 50 top-rated growth stocks in IBD’s database with top fundamentals showing strong relative price strength in the market. The list is updated every Monday in Investor’s Business Daily.

Print Date: 2:20 AM Eastern, Monday, October 08, 2012

Symbol	Company Name	IBD 50 Rank	Composite Rating	EPS Rating	RS Rating	SMR Rating	Acc/Dis Rating	Group Rel Str Rating
SWI	Solarwinds Inc	1	99	99	97	A	C	B
MLNX	Mellanox Technologies	2	99	97	99	A	B	A
ALXN	Alexion Pharmaceuticals	3	99	99	93	A	A	A+
CTRX	Catamaran Corp	4	99	99	93	B	B	A+
KORS	Michael Kors Hldgs Ltd	5	98	98	96	A	B-	B
TDG	Transdigm Group Inc	6	98	99	92	A	A	B-
ALGN	Align Technology Inc	7	98	97	95	A	A-	B+
RMD	Resmed Inc	8	99	97	93	A	B+	A
TCBI	Texas Capital Bancshares	9	99	95	96	A	A	A
FLT	Fleetcor Technologies	10	98	97	92	A	A-	B
GNRC	Generac Hldgs Inc	11	98	98	91	A	B	B+
WWWW	Web.Com Group Inc	12	98	96	93	A	B-	B
QIHU	Qihoo 360 Technology Ads	13	87	99	92	N/A	A	C
DVA	Davita Inc	14	98	96	90	A	B	A-
CRUS	Cirrus Logic Inc	15	96	89	98	A	B-	A
SSYS	Stratasys Inc	16	99	88	98	A	B-	A+
FRAN	Francesca's Hldgs Corp	17	90	99	88	N/A	B+	A-
AAPL	Apple Inc	18	91	99	88	A	D	C-
WPI	Watson Pharmaceuticals	19	97	99	86	A	B+	B
LULU	Lululemon Athletica	20	97	98	87	A	B	A-
TSCO	Tractor Supply Co	21	94	97	89	A	B-	B-
V	Visa Inc Cl A	22	96	98	87	A	A-	B
LOPE	Grand Canyon Education	23	96	96	89	A	A	D-
ESRX	Express Scripts Hldg Co	24	99	95	88	A	A-	A+
GOOG	Google Inc	25	99	96	88	A	A+	A
VAL	Valspar Corp	26	95	94	91	B	B+	A+
SNI	Scripps Ntwrks Intr Cl A	27	99	93	91	A	A-	A
GOLD	Randgold Resources Adr	28	98	92	91	A	A	A+
JAH	Jarden Corp	29	94	90	95	C	A+	B
SHW	Sherwin-Williams Co	30	97	89	95	B	B+	A+
ULTA	Ulta Salon Cosm & Frag	31	96	99	83	A	A-	C
GNC	G N C Holdings Inc	32	93	98	85	A	B-	C
PNRA	Panera Bread Co Cl A	33	97	97	85	A	A-	B
PII	Polaris Industries Inc	34	96	96	86	A	B+	D+
NSR	Neustar Inc	35	99	96	85	A	A+	C+
TFM	The Fresh Market Inc	36	93	96	88	A	B	B-
CF	C F Industries Holdings	37	93	95	88	A	A-	C
CVLT	Commvault Systems Inc	38	98	95	87	A	B	A
DISCA	Discovery Com Cl A	39	92	94	90	A	B	C
IPXL	Impax Laboratories Inc	40	96	94	87	B	B	B
EW	Edwards Lifesciences Cp	41	98	91	90	A	B+	A
XXIA	I X I A	42	96	86	95	A	B+	D+
CELG	Celgene Corp	43	99	99	79	A	A-	A+
TDC	Teradata Corp	44	89	96	87	A	B-	D+
G	Genpact Ltd	45	95	94	86	A	B	B+
VRX	Valeant Pharmaceuticals	46	95	94	85	A	B-	B-
NVO	Novo Nordisk A/S Adr	47	91	93	89	A	C	B-
EBAY	Ebay Inc	48	98	86	92	A	A-	A-
ELLI	Ellie Mae Inc	49	95	82	99	A	C+	B
CBST	Cubist Pharmaceuticals	50	98	97	80	A	B	A+