Barrick Gold Corp

GOLD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$31.00	Gsccs	Yzwwylqr

Barrick Gold Shares Remain Undervalued With Higher Gold Prices a Tailwind

Jon Mills

Aug 13, 2024

Business Strategy and Outlook

Barrick Gold is the world’s second-largest gold miner by production, operating mines in 19 countries in the Americas, Africa, the Middle East, and Asia. Its large portfolio is a result of the 2019 acquisition of Randgold and the combination of its crown jewel Nevada assets with Newmont in a joint venture called Nevada Gold Mines that same year. With Barrick the operator and owning 61.5% of the partnership, NGM has been able to reduce costs thanks to the proximity of mines owned by the joint venture.

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