19:28:07 EDT Thu 25 Apr 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,125,848
Close 2020-12-29 C$ 29.36
Market Cap C$ 52,205,774,897
Recent Sedar Documents

FP/wire say consider buying Newmont, rivals on pullback

2020-12-29 09:06 ET - In the News

See In the News (C-NGT) Newmont Corp

The Financial Post reports in its Tuesday, Dec. 29, edition that spot gold prices are down from an all-time high in August after the rollout of COVID-19 vaccines reduced demand for safe havens, but they remain up about 24 per cent for the year. A Bloomberg dispatch to the Post reports that while the FTSE World Index of equities is on track to return 13 per cent in 2020, the NYSE Arca Gold Miners Index has climbed 23 per cent. The sell-off in the second half of the year likely facilitated a "shakeout of weaker names" that had participated in the first-half rally, says Delbrook Capital manager Matthew Zabloski. He now, however, expects a "big rebound" in precious metal prices, which could again lift the sector. He sees interest rates remaining low as swelling liabilities around the globe make rapidly increasing rates "intolerable." Top picks by Credit Suisse gold bull Fahad Tariq include Newmont, Barrick Gold, Agnico Eagle Mines, Yamana Gold and Endeavour Mining. Mr. Tariq says in a note: "The economy remains fragile and the post- pandemic recovery will be gradual at best. We think any near-term pullback in gold prices due to COVID-19 vaccine approvals and rollout is a good entry point."

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