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GOLD

Barrick Gold Corporation

https://www.barrick.com

Industry

Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States. The company also has ownership interests in producing copper mines located in Chile, Saudi Arabia, and Zambia; and various other projects located throughout the Americas and Africa. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.

Open

16.87

Mkt cap

29B

Volume

19M

High

16.91

P/E Ratio

18.10

52-wk high

21.35

Low

16.59

Div yield

0.02

52-wk low

13.76

Barrick Gold's CEO, Mark Bristow, argues that mergers and acquisitions won't solve the copper shortage, emphasizing the need for new copper discoveries and developments. He comments on the limitations of M&A in the context of BHP's proposed $39 billion takeover of Anglo American. Bristow highlights Barrick Gold's focus on developing its copper assets independently, particularly the Reko Diq project in Pakistan, which is expected to significantly contribute to the local economy and create thousands of jobs.

Portfolio Pulse from Stjepan Kalinic

May 09, 2024 | 1:02 pm

Spot gold's consolidation and potential shift of investor focus towards gold miners could benefit the Direxion Daily Gold Miners Index Bull 2X Shares (NUGT), a leveraged ETF targeting the gold mining sector. NUGT, which aims to outperform the NYSE Arca Gold Miners Index by 200%, includes major holdings like Newmont Corp (NEM), Barrick Gold Corp (GOLD), and Franco-Nevada Corp (FNV). Despite recent sideways trading, NUGT's chart shows a symmetrical triangle pattern, indicating potential for a bullish breakout towards April highs or a bearish drop if support fails.

Portfolio Pulse from Melanie Schaffer

May 08, 2024 | 7:49 pm

Shares of gold stocks, including AU, GOLD, HMY, and KGC, are trading higher due to an increase in the price of gold.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:12 am

Peter Schiff used Peloton's 98.5% stock decline to illustrate his point on the mispricing of gold mining stocks, suggesting a similar but reverse situation exists in the gold mining sector. He highlighted the performance of several gold mining stocks, including Barrick Gold Corp, US Goldmining Inc, SSR Mining Inc, Kinross Gold Corporation, and Newmont Corporation, to underscore the varied performance and potential mispricing in the market.

Portfolio Pulse from Kaustubh Bagalkote

May 03, 2024 | 5:15 am

Barrick Gold Corp (NYSE:GOLD) exceeded Q1 earnings expectations with an adjusted EPS of $0.19, surpassing the $0.15 estimate, and reported sales of $2.747 billion. Despite missing Q1 production targets, the company maintains its 2024 outlook for steady gold production increases. BMO Capital Markets analyst Jackie Przybylowski highlights Barrick's potential for 'catch up' and growth, maintaining an Outperform rating with a target price of $26. The company's strategic initiatives and a recent Golden Cross formation in its stock indicate a bullish trend.

Portfolio Pulse from Surbhi Jain

May 02, 2024 | 4:21 pm

Barrick Gold Corp (NYSE:GOLD) reported a slight increase in FY24 Q1 revenue to $2.747 billion, in line with consensus, despite a production miss. Gold production decreased by 1% Y/Y, and sales by 5% Y/Y, but the average realized gold price rose by 9% Y/Y. Copper production was flat, while its price declined by 8% Y/Y. Adjusted EPS was $0.19, beating the consensus of $0.15. The company maintains its FY24 outlook, expecting gold production to increase with key projects and has declared a $0.10 dividend per share. Investors can also gain exposure through SGDM and GDX ETFs.

Portfolio Pulse from Lekha Gupta

May 01, 2024 | 2:16 pm

Barrick Gold has entered into an exploration earn-in agreement with Geophysx Jamaica Ltd. for properties in Jamaica through its subsidiary, Barrick Gold Ltd. This strategic move aims to expand Barrick Gold's exploration footprint and potentially increase its resource base in a new geographic location.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:16 am

Barrick Gold projects its FY24 capital expenditure to be between $2.5 billion and $2.9 billion.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:05 am

Barrick Gold (NYSE:GOLD) reported Q1 2024 adjusted EPS of $0.19, surpassing the $0.15 estimate, with sales of $2.747B meeting expectations and marking a 3.93% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:02 am

Shares of precious metals stocks, including AU, GFI, and SBSW, are trading lower due to a decrease in the price of gold.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:10 pm

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