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Barrick Gold Review5 min read

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Barrick Gold is a mining company based in Canada. They specifically mine gold and copper and operate in 13 countries in Africa, North America, South America, Saudi Arabia, and Papua New Guinea. It’s listed on both the Toronto and New York Stock Exchanges.

Production capacity has only grown since its inception. It should also be noted that the company produced 4.8 million ounces of gold and 457 million pounds of copper in 2020. They also expect to produce the same level of production in the coming year.

Its financial performance has been outstanding and the net earnings of Barrick Gold are in excess of $2.3 billion in 2020. The adjusted earnings per share went up by 125% in the same year to reach $1.15. The NYSE share price went up by 23% and the company has performed very well through tough times. The owners say that it’s all due to the fact that gold is a safe haven investment all over the world.

On top of that belief, Barrick Gold also has very good leadership. Mark Bristow, the Chief Executive Officer, has particularly been pivotal in steering the company to its success. He was instrumental in the $6.5 billion merger with Randgold Resources and oversaw the formation of Nevada Gold Mines, which resulted from combining Newmont and Nevada assets.

He has played a key role in the development of sustainable mining in Africa. While conducting its business operations, it recognizes the importance of integrating environmental, economic, and social considerations into sustainability.

Its sustainability vision has four pillars. Minimizing environmental impact, creating economic benefits, protecting health and safety, and respecting human rights. Exploiting natural resources while minimizing environmental impact is vital in this nature of business. Here is a review of Barrick Gold to let you know if it’s the right company for you and your investments.

The Investor “Take” On Barrick Gold

Barrick Gold has a very good outlook for its investors. In fact, it has continued to attract a torrent of investors in the New York Stock Exchange and Toronto Stock Exchange, which is an indication that people believe in it.

Their investors include such large companies as Capital World Investors, Vanguard Group, Royal Bank of Canada, Blackrock, and Flossbach von Storch. The company’s share price has performed well since it began and that reflects the confidence that the investors have in it.

The projected gold production in the year 2021 will range between 4.4 and 4.7 million ounces. Copper production is expected to range from 410 to 460 million pounds. In absolute terms, this is a humungous scale of operation, and any investor would be interested in investing in the company.

While the projected production levels and other financial KPIs are good signs that the company is likely to perform well in the future, you should also research the expected future gold and copper prices as they can potentially hurt your investment. It’s always best to research any company first, no matter how well they seem to perform.

Barrick Gold For The Workers

Barrick Gold also happens to be a great place to work. It doesn’t matter if you’re looking for a career or simply in search of a good job. You can get them both right here and you’ll always be welcome among the community.

They employ geologists, engineers, accountants, environmentalists, health specialists, IT technicians, and finance officers. The company has immense growth opportunities and offers a work-life balance. You can’t always find a company of this size and income. It just goes to show that they care about the men and women that work for them.

Best of all, they offer good salaries and benefits. That makes it extremely attractive to many new job seekers. As long as you’re good at your job, you can expect to never have a problem with moving up within the company.

If you want to excel in this company, you have to put your best foot forward because promotion is performance and merit-based. The more work you put into it, the more the work will put into you and that’s really a great way for any company to treat its employees and keep them happy.

Pros And Cons

These are the basic pros and cons of Barrick Gold. No matter how big a company gets, it will always have its good and bad points. It just so happens that one of the biggest downsides to this one is its environmental damage.

It has been accused of leaving mercury and cyanide elements at exploration sites poisonous to human beings, as well as simply polluting the environment. On top of that, Barrick Gold has also been accused of bribery within the Tanzanian government. This was, however back in 2014, and no such allegations have been brought to light since.

Pros

  • Proficient in keeping AISC Low
  • Strategically Located
  • High Ore Grades
  • Scale of Operation
  • Strong Financial Position
  • Strong Employee Base

Cons

  • Volatile Gold prices
  • Bribe Allegations
  • Stringent Regulations from the Government
  • Environmental Damage

Is Barrick Gold A Scam?

Barrick Gold is absolutely not a scam of any kind. It’s a massive mining company that operates all over the world. They mine precious metals and have benefitted from the safe-haven investments of these precious metals to keep them lucrative through very tough financial times.

It is listed on the New York Stock Exchange and Toronto Stock Exchange, meaning it is regulated. The company’s corporate governance structure is composed of executive management and a board of directors.

Barrick Gold is a good company that is more than worth your investments if you choose to make money with them. If you’re interested in buying stock in the company, you will almost certainly see a very good return on your money.

This company knows how to make a great profit and you’ll be able to get a piece of it if you invest in their stocks. However, there may still be better companies out there for you to invest in that are even better options than Barrick Gold.

About 

Edwin Cannon has spent his entire career in the financial industry and specializes in alternative investments and surviving marketing turbulence. He started My Retirement Paycheck to help educate consumers about retirement investment options that aren't typically introduced by advisors.