Cara Community GSM: Barrick Gold 11-2020

Barrick Gold Corp. (NYSE: GOLD) (TSX: ABX) reviewed 11-10-2020

(All figures in USD)

Market Cap:       $46.2 Billion        Share Price:        $25.97

Shares outstanding: 1,778,000,000

Cash and cash equivalents: $4.83 Billion as of 30 Sept 2020.

Total Debt: $5.2 Billion                   Net debt: $400 Million

Current operations: Yes

Insider holdings: Low                      Institutional:  1092 institutions own about 68%


CEO: Mark Bristow                          HQs: Toronto, Ontario, Canada

Barrick Gold Corporation 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, Ivory Coast, the Democratic Republic of Congo, Dominican Republic, Mali, Papua New Guinea, Tanzania, and the US

Barrick is one of the largest gold mining companies in the world, spending over $100 million per year on exploration

Q3 Highlights:

  • Production of 1.155 Million oz of gold and 103 Million lbs of copper in the quarter.
  • Cash costs $676 per gold oz with consolidated AISC stated at $966
  • Reported GAAP earnings of $0.50 per share on revenue of $3.54 Billion
  • Q3 cash flow from operations of $1.9 Billion and record free cash flow of $1.3 Billion
  • Reported cash flow was a 151% improvement over Q3 2019 on strong 2020 Q3 gold prices
  • Reduced debt net of cash to $400 Million

Bottom line:

  • A major about the equal of Newmont Gold
  • Warren Buffett bought the stock, so it cannot be all bad 😊
  • Silly change of the US symbol from ABX to GOLD
  • Attractively priced this week

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