Barrick CEO On High Gold Prices, Why He Says The Miner Is Undervalued: 'You Get A Lot For Free'
Portfolio Pulse from Matt Whittaker
Barrick Gold Corp. (NYSE:GOLD) CEO Mark Bristow attributes high gold prices to geopolitical instability rather than inflation. Despite strong financial performance in Q2, Bristow believes the market undervalues Barrick's gold and copper assets. The company's shares have risen following the announcement, with analysts raising price targets. Barrick's joint venture with Newmont Corporation (NYSE:NEM) and its expanding copper business are highlighted as key assets.
August 13, 2024 | 6:59 pm
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POSITIVE IMPACT
Barrick Gold Corp. reported strong Q2 financial performance, with revenue and earnings beating expectations. CEO Mark Bristow believes the market undervalues the company's gold and copper assets. Shares have risen following the announcement, with analysts raising price targets.
Barrick's strong Q2 performance and CEO's comments on undervaluation have positively impacted the stock. The rise in share price and increased analyst price targets indicate a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Newmont Corporation's joint venture with Barrick Gold in Nevada is highlighted as a key asset. Barrick's CEO believes the combined value of their gold and copper assets exceeds Barrick's market cap, suggesting potential undervaluation.
The joint venture with Barrick Gold is a significant asset for Newmont, and Barrick's CEO's comments on undervaluation could positively impact Newmont's stock as well.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50