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Barrick Gold Corporation (GOLD) 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, Papua New Guinea, 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.
On January 1, 2019, a new Barrick was born out of the merger between Barrick Gold Corporation and Randgold Resources.
The merger created a sector-leading gold company which owned five of the industry’s Top 10 Tier One gold assets — Cortez and Goldstrike in Nevada USA (both 100%), Loulo-Gounkoto in Mali (80%), Kibali in the Democratic Republic of Congo (45%) and Pueblo Viejo in the Dominican Republic (60%) — as well as two with Tier One potential — Turquoise Ridge and the Goldrush/Fourmile project, both in Nevada USA.
On July 1, 2019, Barrick combined its Nevada assets with those of Newmont to create Nevada Gold Mines (61.5% owned and operated by Barrick) resulting in Turquoise Ridge becoming the sixth Tier One mine in the Barrick portfolio. And in September it bought out the minority shareholders in Acacia and took over the management of its Tanzanian assets.
Barrick Gold reported Quarter December 2019 earnings of $0.17 per share on revenue of $2.9 billion. The consensus earnings estimate was $0.14 per share on revenue of $2.8 billion. Revenue grew 51.4% on a year-over-year basis.
This stock reports earnings on May 6th.
As the commodity increases in value, the company should see a rise in stock price.
Entry point: $27.00
52-week trade range: $11.65 - $28.50
Stop/Loss: $25.00
Target Price: $29.70
GOLD closed at $28.45
