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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

Jim Cramer shared his opinions on several stocks during CNBC's 'Mad Money Lightning Round.' He praised Franco-Nevada Corporation (FNV) as a great way to own gold and expressed a personal preference for Barrick Gold Corporation (GOLD). Cramer recommended buying Plains GP Holdings (PAGP) for its dividend but then selling it. He reiterated support for Uranium Energy Corp. (UEC) as a profitable pure play uranium company. Cramer was disappointed with Dutch Bros Inc. (BROS) for their rapid expansion and advised them to slow down. He complimented Ryanair Holdings (RYAAY) as well-run, criticized Paramount Global's (PARA) balance sheet, called Exelixis, Inc. (EXEL) a good speculative investment, and suggested that United Natural Foods, Inc. (UNFI) is not going to improve soon. The article also reported the recent price actions of these stocks.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 1:47 pm

Freeport-McMoRan Inc. (FCX) was upgraded by Bernstein from Market Perform to Outperform with a new price target of $48.50. Barrick Gold Corporation (GOLD) was downgraded by Bernstein from Outperform to Market Perform. Commercial Metals (CMC) reported a year-over-year decline in earnings and net sales but maintained strong financial results and cash flows. Ivanhoe Electric Inc. (IE) announced significant progress on its Santa Cruz copper project, with promising drilling results and an expanded landholding.

Portfolio Pulse from Austin DeNoce

January 08, 2024 | 9:49 pm

Barrick Gold Corp and Antofagasta plc have formed a $95 million partnership for copper exploration in Chile. Endeavour Mining Plc fired its CEO for misconduct involving a $5.9 million payment and personal conduct issues. The battery industry needs to invest $514 billion by 2030 to meet demand for lithium-ion batteries.

Portfolio Pulse from Austin DeNoce

January 05, 2024 | 9:40 pm

Barrick Gold Corporation (NYSE:GOLD) is considering a takeover of First Quantum Minerals (TSE: FM) to expand its copper mining operations. First Quantum has been struggling, with its share price dropping over 60% through 2023, and faced operational issues in Panama leading to the closure of the Cobre Panama mine. Barrick's CEO, Mark Bristow, has been in talks with First Quantum's major investors, despite an earlier rejection of an informal takeover offer by First Quantum in June 2023. Barrick is looking to bolster its copper production, with First Quantum's market value now around $6 billion compared to Barrick's $31 billion.

Portfolio Pulse from Stjepan Kalinic

January 03, 2024 | 9:48 pm

Reunion Gold Corporation has reached a settlement with Barrick Gold Corporation, resolving a claim brought by Barrick. The Strategic Alliance Agreement between the two companies, dated February 3, 2019, has been terminated with no outstanding obligations or properties involved. A consent dismissal order will be filed in the Ontario Superior Court to dismiss the claim.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 12:40 pm

Barrick Gold Corporation (NYSE:GOLD) has restarted operations at the Porgera mine in Papua New Guinea, sharing 49% of the project with Zijin Mining Group. The mine, under care since 2020 due to a dispute, is expected to produce 21 tonnes of gold annually over 20 years. Barrick's stock underperformed gold prices, with only 2.2% gains compared to gold's 11% rise. The company also faces challenges in Tanzania with allegations of forced evictions at the North Mara mine, which Barrick denies.

Portfolio Pulse from Stjepan Kalinic

December 16, 2023 | 4:23 pm

The US Bureau of Land Management has approved Nevada Gold Mines' Plan of Operations for the new Goldrush Underground Mine. The mine, expected to start production in 2024, is forecasted to produce 130,000 ounces of gold in its first year and reach approximately 400,000 ounces annually by 2028.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:03 pm

Barrick Gold has announced that the Porgera Mine in Papua New Guinea, which is a joint venture between Barrick and Zijin of China, will resume operations with gold pouring expected to begin in early 2024. The equity in New Porgera is split with 51% held by PNG stakeholders and 49% by Barrick Niugini Limited. PNG stakeholders will receive 53% of the economic benefits, potentially amounting to over $7 billion over 20 years, assuming a gold price of $1,800 per ounce.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 6:23 am

Spot gold has maintained its position above $2,000, with the Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) rising by 1.2%. This comes in anticipation of the November jobs report and the upcoming FOMC meeting. NUGT, which aims to outperform the NYSE Arca Gold Miners Index by 200%, includes significant holdings in Newmont Corp (NEM), Barrick Gold Corp (GOLD), and Franco-Nevada Corp (FNV). The ETF is forming a bull flag pattern, suggesting a potential 38% rise if the pattern holds. Conversely, for bearish traders, the Direxion Daily Gold Miners Index Bear 2X Shares (DUST) is an option. Leveraged ETFs like NUGT and DUST are recommended for experienced traders and not for long-term investment strategies.

Portfolio Pulse from Melanie Schaffer

December 06, 2023 | 7:02 pm

Gold has reached a record high of over $2,146 per ounce, yet gold mining stocks have not seen similar gains, with the VanEck Gold Miners ETF (GDX) 50% below its 2011 peak. Rising production costs, stock dilution, local opposition, and a fragmented industry are cited as reasons for the underperformance. Oliver Groß points to increased costs in energy, labor, and operations, while Ima Casanova of VanEck sees gold stocks as undervalued and poised for a re-evaluation.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 6:11 pm

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