Topic: How To Invest

Q: Hi: I would like to know what you think of Barrick Gold, TSX symbol ABX. Thank you.

Article Excerpt

A: Barrick Gold Corporation, $24.46, symbol ABX on Toronto (Shares outstanding: 1.8 billion; Market cap: $43.9 billion; www.barrick.com), is the second-largest gold mining company in the world after Newmont Goldcorp (symbol NEM on New York). Barrick has its headquarters in Toronto, Canada. The company has mining operations and projects in 15 countries, including Argentina, Australia, Canada, Chile, Côte d’Ivoire, Democratic Republic of Congo, Dominican Republic, Mali, Papua New Guinea, Peru, Saudi Arabia, Senegal, the U.S. and Zambia. In January 2019, in a deal valued at $6.5 billion, Barrick merged with Randgold Resources Limited, a gold-mining firm focused on Africa. The combined company now owns five of the industry’s “Top 10 Tier One” gold assets. A Tier One Gold asset is a mine that will produce at least 500,000 ounces of gold for at least 10 more years with a total cash cost within the bottom half of the industry’s cash cost-curve. The new Barrick now has 78 million ounces of gold reserves. On…