19:34:39 EDT Fri 16 Apr 2021
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,189,894
Close 2021-02-18 C$ 25.71
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Globe says Barrick kicking tires, but won't be rushed

2021-02-19 08:36 ET - In the News

The Globe and Mail reports in its Friday edition that Barrick Gold is sniffing around for its next acquisition, but chief executive officer Mark Bristow says the big Canadian miner will not be rushed into doing anything rash. The Globe's Niall McGee writes that Barrick's most recent significant deal was its 2018 $6-billion (U.S.) purchase of Randgold Resources Ltd., the African producer Mr. Bristow founded and ran for two decades. Inspired by the success of that deal, several other large gold companies, including Newmont and Kirkland Lake Gold, struck multibillion-dollar acquisitions of their own. Unlike the ruinous round of consolidation that swept across the industry from 2008 to 2012, the current round has gone well. Takeover premiums have been low or non-existent, promised cost savings have largely been borne out and the share prices of the acquirers have gone up. Mr. Bristow says gold-sector consolidation is not over by a long shot, and Barrick, with its minimal debt load and cash-rich coffers, is "well equipped" to play a role. "We are very busy at the moment looking at stuff," he said. "Emerging new regional" producers and single-asset miners are the most attractive targets, he added.

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