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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

19.02

Mkt cap

32B

Volume

20M

High

19.07

P/E Ratio

15.39

52-wk high

21.35

Low

18.76

Div yield

0.02

52-wk low

15.11

Scotiabank analyst Tanya Jakusconek has maintained a Sector Outperform rating on Barrick Gold and increased the price target from $23 to $25.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 3:35 pm

Gold mining companies are increasing M&A activity due to high gold prices, which boost their free cash flow. Gold Fields plans to acquire Osisko Mining for $1.57 billion, and Newmont is selling several mines to pay down debt. The VanEck Gold Miners ETF rose 3.08% amid record gold prices. Copper is also becoming a significant focus for gold miners.

Portfolio Pulse from Matt Whittaker

August 16, 2024 | 7:44 pm

Gold prices hit an all-time high of $2,500 per ounce due to a weakening U.S. dollar and declining Treasury yields. This surge is driven by expectations of Federal Reserve rate cuts. Gold ETFs, including SPDR Gold Trust (GLD), saw strong inflows in July. Gold mining stocks, such as those in the VanEck Gold Miners ETF (GDX), also performed well.

Portfolio Pulse from Piero Cingari

August 16, 2024 | 2:59 pm

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.

Portfolio Pulse from Matt Whittaker

August 13, 2024 | 6:59 pm

Barrick Gold (NYSE:GOLD) has expressed interest in partnering with the Panamanian government regarding the Cobre Panama mine, which has been idle due to contractual disputes between its owner, First Quantum Minerals (OTC:FQVLF), and the government. The mine's future remains uncertain, with potential new partnerships or operational changes expected next year. Barrick's CEO emphasized caution in overpaying for assets, while First Quantum seeks $20 billion in damages through arbitration.

Portfolio Pulse from Stjepan Kalinic

August 13, 2024 | 11:58 am

Barrick Gold Corporation (NYSE:GOLD) shares are trading higher after the company reported better-than-expected Q2 financial results for FY2024. Revenue increased by 12% year-over-year to $3.162 billion, surpassing estimates. Adjusted EPS also beat expectations. Key projects in Nevada, the Dominican Republic, Zambia, and Pakistan are expected to bolster future production.

Portfolio Pulse from Vaishali Prayag

August 12, 2024 | 7:58 pm

Barrick Gold shares are trading higher after the company reported better-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 1:41 pm

Barrick Gold Corp (NYSE:GOLD) reported strong Q2 FY24 results with revenue of $3.162 billion, beating expectations. Despite a decline in gold and copper production, higher realized prices boosted profits. The company declared a $0.10 dividend and repurchased 2.95 million shares. Key projects are on track, and the FY24 outlook was reiterated. Investors can also gain exposure via Sprott Gold Miners ETF (NYSE:SGDM) and VanEck Gold Miners ETF (NYSE:GDX).

Portfolio Pulse from Lekha Gupta

August 12, 2024 | 12:37 pm

Nasdaq and S&P 500 futures climbed after a volatile week, with traders focusing on upcoming inflation data and retail earnings from Home Depot and Walmart. KeyCorp shares rose due to Scotiabank's minority stake purchase, while Hawaiian Electric fell after raising a going concern warning. Ballard Power Systems, Barrick Gold, and Monday.com are set to report earnings. The VIX held below 21, and geopolitical tensions rose with Hezbollah's rocket attacks on Israel.

Portfolio Pulse from Shanthi Rexaline

August 12, 2024 | 11:31 am

Barrick Gold reported a 6% year-over-year decline in Q2 gold production, totaling 948,000 ounces.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 10:11 am

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