06:54:01 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,166,577,478
Close 2018-03-02 C$ 14.88
Market Cap C$ 17,358,672,873
Recent Sedar Documents

Globe says diminished Barrick, Teck still get noticed

2018-03-05 09:19 ET - In the News

Also In the News (C-TECK) Teck Resources Ltd

The Globe and Mail reports in its Saturday edition that a multiyear rally in prices for base metals has put the mining industry on solid footing as the sector's biggest annual convention rolls into Toronto. The Globe's Niall McGee writes, however, that investor enthusiasm for Canadian mining stocks this time around is decidedly muted. The annual Prospectors & Developers Association of Canada (PDAC) convention kicked off on Sunday and runs through Wednesday, as the industry enjoys a healthy tailwind from firm metal prices. Many of the Canadian large-capitalization metals and mining companies that remain are considerably smaller, compared with their peak valuations. Barrick Gold, a $53-billion company in 2011, is now worth $17.2-billion. Teck Resources, currently worth $21-billion, was valued at $38-billion seven years ago. The trend is even more pronounced among the intermediate gold and base-metals producers. "The problem for Canada, especially the mining sector," says Matt Barasch, portfolio manager with RBC Dominion Securities, "is it's almost too small for investors to have to care about any more." Most of these names now are just rounding errors in the index, Mr. Barasch said.

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