Morningstar Rating

Stock Research and Analysis

by Elizabeth Collins, CFA

Bulls Say

Pueblo Viejo continues to ramp up and should operate at extremely low cash costs.
Barrick's diverse portfolio of mines means that disruptions at any one operation would have a limited impact on the overall company.
Barrick's new CEO will instill discipline and improve shareholder returns. Read more 

Bears Say

The decision to suspend Pascua Lama removes a huge contributor to future production growth.
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.
Lumwana in Zambia was the only operational mine in Equinox's portfolio at the time of the acquisition. It turns out the mine was being run to boost short-term production at the expense of long-term viability, and Barrick now must establish sound operational practices. Read more 

Management

Peter Munk founded Barrick Gold in 1983 and built the company into the largest gold producer in the world. Fortuitously, in 1986 Barrick purchased the Goldstrike property for $62 million. This property remains Barrick's flagship asset with more than   Read more 

Profile

Barrick is one of the world's largest gold producers. In 2013, the firm produced 7.2 million ounces of gold (attributable basis) and 539 million pounds of copper. As of   Read more 

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