- Barrick Gold Corporation (ABX) has announced a share buyback program
- Barrick will repurchase up to $1.0 billion of the company’s outstanding common shares over the next 12 months at prevailing market prices
- The number of common shares that may be purchased and the timing of any purchases will be determined by Barrick
- The repurchase 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
- Shares in Barrick Gold Corporation (ABX) opened trading at C$26.33
Barrick Gold Corporation (ABX) has announced plans to undertake a share buyback program.
Barrick will repurchase up to $1.0B of its common shares.
“We believe that the shares 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 Officer. “We have the financial strength to undertake this program.”
The number of common shares that may be purchased and the timing of any purchases will be determined by Barrick.
The repurchase program does not obligate Barrick to acquire any particular number of common shares, and the repurchase program may be suspended or discontinued at any time at the company’s discretion.
Based in Toronto, Barrick Gold is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa.
Shares in Barrick Gold Corporation (ABX) opened trading at C$26.33.