Morningstar Rating

Stock Research and Analysis

by Kristoffer Inton

Bulls Say

Barrick's five core mines boast all-in sustaining costs well below the industry average.
Ongoing portfolio optimization will allow the company to focus on the best-performing assets, reduce capital expenditures, and monetize noncore mines.
Gold companies tend not to follow general economic cycles. They can also provide a hedge to inflation risk. Read more 

Bears Say

Barrick lacks significant future production growth in its pipeline with Pascua-Lama and Jabal Sayid currently on hold.
The Equinox acquisition has turned out to be a huge disappointment. The deal's valuation made sense only in a high copper price scenario, but prices have fallen substantially since the deal was consummated.
Investors looking for gold exposure can skirt company-specific risk by investing in gold-backed exchange-traded funds. Read more 


We assign Barrick Gold a Standard stewardship rating. We think it has a mixed record as stewards of shareholder capital. On the positive side, Barrick has put together an attractive portfolio of mines, anchored by five core mines with all-in sustaining   Read more 


Based in Toronto, Barrick is the world's largest gold producer, operating mines in North America, South America, Australia, and Africa (through ownership of Acacia Mining).  Read more 

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