Barrick Gold Corporation
Barrick Gold Corporation was founded in 1983 by Peter Munk with headquarters in Toronto, Ontario, Canada. The company’s shares trade on both the Toronto and the New York Stock Exchanges under the symbol ABX and the company has a market capitalisation of 15.34 billion, with 1.16 billion shares outstanding. Barrick Gold’s share price movements correlate strongly with fluctuations in the gold and silver markets.
The company became the largest gold mining company in the world after its acquisition of Placer Dome in 2006 and it recently purchased a 20% stake in Idaho-based Midas Gold. Barrick Gold has roughly 10,000 employees and runs mining operations on five continents, with substantial mines situated in Argentina, Australia, Canada, Chile, Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States and Zambia.
Barrick Gold Corporation Market Influences
About three quarters of Barrick Gold’s production comes from its mines in the Americas and about a third comes from its North American operations that include the Hemlo Gold Mine in Canada, the Cortez Gold Mine and Goldstrike Mine in Nevada, the Golden Sunlight Mine in Montana, and a partial ownership of the Donlin Gold Project in Alaska and the Turquoise Ridge Gold Mine in Nevada.