Barrick GoldGOLD
About: Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
Employees: 24,600
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
17% more capital invested
Capital invested by funds: $16.9B [Q2] → $19.7B (+$2.88B) [Q3]
15% more call options, than puts
Call options by funds: $1.04B | Put options by funds: $900M
11% more first-time investments, than exits
New positions opened: 89 | Existing positions closed: 80
11% more funds holding in top 10
Funds holding in top 10: 19 [Q2] → 21 (+2) [Q3]
1% more funds holding
Funds holding: 697 [Q2] → 706 (+9) [Q3]
1.1% less ownership
Funds ownership: 57.42% [Q2] → 56.32% (-1.1%) [Q3]
10% less repeat investments, than reductions
Existing positions increased: 223 | Existing positions reduced: 248
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Scotiabank Tanya Jakusconek 55% 1-year accuracy 11 / 20 met price target | 49%upside $23 | Sector Outperform Maintained | 25 Nov 2024 |
Raymond James Brian MacArthur 14% 1-year accuracy 2 / 14 met price target | 62%upside $25 | Outperform Maintained | 25 Nov 2024 |
UBS Daniel Major 0% 1-year accuracy 0 / 8 met price target | 42%upside $22 | Neutral Downgraded | 30 Oct 2024 |
Financial journalist opinion
Based on 16 articles about GOLD published over the past 30 days
