- Barrick Gold Corporation (ABX) has announced a normal course issuer bid
- Barrick’s Board of Directors has authorized the repurchase of up to $1.0 billion of the company’s outstanding common shares over the next 12 months
- Consequently, Barrick has terminated the share repurchase program announced by the company on February 16, 2022
- Barrick Gold is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa
- Barrick Gold Corporation opened trading at $23.78 per share
Barrick Gold Corporation (ABX) has announced a normal course issuer bid.
Barrick’s Board of Directors has authorized the repurchase of up to $1.0 billion of the company’s outstanding common shares over the next 12 months.
Barrick has terminated the share repurchase program announced by the company on February 16, 2022. The company repurchased $424 million in common shares under its 2022 NCIB.
“After the success of last year’s buyback program, this new program gives us a further opportunity to repurchase our shares when we believe that they are trading in a price range that does not reflect the value of the company’s mining and financial assets and future business prospects,” said Mark Bristow, President and Chief Executive.
“We continue to have the financial strength to undertake this program,” he added.
Under the program, repurchases can be made from time to time through published markets in the United States, such as the New York Stock Exchange, using a variety of methods, including open market purchases, as well as by any other means permitted under the rules of the U.S. Securities and Exchange Commission and other applicable legal requirements.
The bid does not obligate the company to acquire any particular number of common shares, and the program may be suspended or discontinued at any time at the company’s discretion.
Barrick Gold is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa.
Barrick Gold Corporation (ABX) opened trading at $23.78 per share.