Barrick Gold Corporation started in Canada, and it focuses on mining gold and copper. Many people consider this company one of the largest ones in the mining industry and it operates in 13 different countries, including places in New Guinea, North and South America, Africa, Papua, and Saudi Arabia.
It’s listed on both the New York Stock Exchange and the Toronto Stock Exchange, and its production capacity has immensely increased over the years. In 2020 alone, Barrick Gold Corporation produced 457 million pounds of copper and 4.8 million ounces of gold.
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The company’s financial performance has been fantastic, and its net earnings reached $2.3 billion in 2020. Since Barrick Gold Corporation has performed well even in tough times, it has helped many investors see precious metals as a fantastic investment option.
This company is immensely famous, and many people see it as a good alternative if they want to invest in precious metals; thus, this Barrick Gold review describes essential information you might want to keep in mind if you’re investing.
Some Facts about Barrick Gold
In 2020, Barrick Gold Corporation’s adjusted earnings per share went up by 125%, and the company’s NSE share price went up by 23%. However, none of this would have been possible without Barrick Gold’s outstanding leader: Mark Bristow.
Bristow steered the company to succeed, and he was an essential figure when the company merged with Randgold Resources. He also oversaw the Nevada Gold Mines formation, which was a product of Barrick Gold combining the Nevada and Newmont assets. Additionally, Mark Bristow played a pivotal role in developing sustainable mining of precious metals in Africa.
Many people admire leaders like Bristow. However, his relentless decision-making process stands out since sustainable options are always an essential part of it. In other words, while Bristow ensures the company is producing gold mines and offering the best copper prices, he also cares about environmentally-friendly alternatives.
Barrick Gold Corporation has strong leaders in its team, and its alternatives always aim towards sustainable options. Managers like Bristow recognize the importance of merging economical, social, and environmental factors to offer the best sustainable options.
This company is based on four sustainability pillars and that makes it very different from other companies in the mining industry. Barrick Gold’s pillars are the following:
- Minimizing the mines’ environmental impact
- Protecting safety and health
- Creating financial benefits
- Respecting human rights
While other companies focus solely on producing copper mines located in the best spots to give you silver, copper, platinum, and gold prices, Barrick Gold Corporation cares about that and more. In this case, the company always contributes to the social and economic development of the country hosting its mining.
At the same time, Barrick Gold Corporation has policies to invest in mutually responsible business partners. The company engages in mine development, but it also helps local job seekers by hiring them whenever possible. Additionally, it uses local materials as well.
Overall, Barrick Gold’s policies help increase job opportunities, protect the environment, and inject capital inflows. Its economic contribution across 13 different countries was massive in 2020. It accounted for no less than $8.3 billion in form of remittances and payments to governments, supplies, and employees.
What People Say about Barrick Gold Corporation
When investors can trade a company on the New York Stock Exchange and the Toronto Stock Exchange, it usually catches many investors’ attention. Therefore, it’s no surprise that Barrick Gold is one of many people’s favorite choices when it comes to investing in precious metals.
People believe in Barrick Gold, and the company has attracted a myriad of investors and people interested in precious metals and the benefits that can bring them. Some of the company’s institutional investors include Blackrock, Flossbach von Storch, the Vanguard Group, and the Royal Bank of Canada.
Even though some investors blindly believe in Barrick Gold, there are some factors you should keep in mind when you’re investing in a mining company. While this company’s main characteristic is operational excellence, incredible leadership skills by its Chief Executive Officer Mark Bristow, and high-quality gold and other precious metals, you should also consider possible future scenarios.
Just because a company is performing well at a specific point in time doesn’t mean it’s going to stay the same in future. Thus, to make intelligent investment choices, a fantastic approach is to gauge Barrick Gold’s growth potential, cash flow, shareholder equity, interest rates, ownership interests, debt obligations, and key performance indicators (KPIs).
In the immediate future, for example, the company is expected to maintain the same trajectory. Barrick Gold should increase its physical gold and copper production. Thus, it’s a fantastic opportunity for investors who want to secure their assets by investing in precious metals.
Barrick Gold: a Company that Takes Advantage of Copper Mines and Offers the Best Gold and Copper Properties
It is now clear that Barrick Gold is one of the best companies out there. However, you should still evaluate if it’s the right option for you.
Even if the share price, ownership interests, and precious metals prices seem like a good bet, you need to consider all factors before investing in Barrick Gold. In many cases, investors spend long hours gauging the future benefits they might get if they invest in a company like this one.
Making a good choice is often not easy, but there’s something quite clear: Barrick Gold is a legit company with incredible leaders, kind employees, and many benefits for both workers and investors.
Is Barrick Gold a Good Company to Work with?
Many people believe that Barrick Gold is a great place to start a career. Working there means you can meet many professionals with different backgrounds, for example, accountants, geologists, health specialists, environmentalists, finance officers, and IT technicians.
Moreover, Barrick Gold is known for offering work-life balance, which is not something you can find in all job offers. With different benefits and salaries, this company is an ideal option if someone wants to work hard and show their skills. It offers the possibility of going up the corporate ladder and earning more money, but you need to earn it since promotions are merit and performance-based.
On some occasions, companies offer good financial benefits, but the work environment is negative and hinders productivity. However, this is not the case with Barrick Gold.
The company focuses on guaranteeing all workers can do their job in a healthy environment. Thus, every employee displays strong work ethics and engages in professional behavior at all times. At the same time, Barrick Gold has introduced a teamwork culture to foster relationships between workers and get better outcomes.
With this company, workers are surprised every day. In some cases, you might need to think outside the box or work with teams to solve the issue. Therefore, Barrick Gold offers a fast-paced working environment that promotes innovation and creativity.
Although Barrick Gold encourages divergent thinking and creative solutions, it also puts the workers’ safety first at all times. The company is consistent with the World Health Organization guidelines to guarantee employees’ security.
A fantastic example of the previously mentioned aspect is that Barrick Gold uses safeguards to ensure no worker is at risk inside the mines. Generally speaking, mines are dangerous places since they require people to move complex machinery and vehicles. Consequently, Barrick always employs effective safety practices to mitigate risks, which is why it’s one of the companies that have a small number of safety-related incidents.
Even though many workers have said good things about Barrick, other former employees have mentioned contradicting opinions. Previous workers said they had to work for a long time when they worked for Barrick, and they mentioned that work-life balance was impossible.
Since there are opposite opinions regarding Barrick’s treatment of its employees, you should evaluate the information and make sure that your decision matches your career goals.
Advantages and Disadvantages of Barrick Gold
As it was mentioned before, some people have said negative things about Barrick, which demonstrates that all companies have advantages and disadvantages.
Understanding a company’s benefits and disadvantages is essential for many reasons. On the one hand, it helps you decide if you’re considering working for the company. On the other hand, if you want to invest, it gives you a clearer picture of what you might expect.
Clearly, Barrick is one of the most famous mining companies in the world, and it has won its spot on the Toronto and the New York Stock Exchange. Nonetheless, you still need to consider its disadvantages if you want to make an informed decision. Take a look at some of its pros and cons:
Pros
Barrick certainly has many advantages, and they’re attractive to investors and job seekers. Here are some of its benefits:
Operation Scale
The company is growth-hungry and it’s constantly increasing its operational activities and merging with potential partners. Since it uses different strategies to grow, it often increases production. Thus, it’s a fantastic choice if you’re an investor.
It’s Strategically Located
Unlike other companies, Barrick is located in countries with low geopolitical risks, such as Chile, Peru, Dominican Republic, Papua, Tanzania, and Saudi Arabia. Consequently, its operations cannot be interfered with.
Financial Position
If you’re an investor looking for financially strong companies, Barrick might be an ideal option for you. This company can marshal its resources and either expand its exploration work or buy modern equipment. Many people believe that its debt-to-equity ratios and other indicators make it a great investment alternative.
Employee Base
Barrick has around 20,000 employees, which makes it a huge company. In many cases, investors choose it because they soon find out that its workers are capable of delivering projects on time, and they’re professional and responsible. Thus, it might be the ideal alternative for you if you want a trustworthy company with reliable professionals behind it.
Cons
Although Barrick has many advantages, its disadvantages are also essential if you want to critically analyze it before making a decision. Whether you want to work for the company or invest in it, you still need to consider the bigger picture if you want to make an intelligent choice.
Volatile Prices
Gold prices are volatile sometimes, and they can destabilize the company. Even though they might be in your favor on some occasions, if they slump, you might lose money. Nonetheless, you should keep in mind that all investments require you to assess their risks, otherwise, you can’t decide correctly.
Tight Government Regulations
Since Barrick operates in so many different countries, its operations are sometimes controlled by government agencies that might not benefit the company’s goals. Sometimes, the rules are so tight that it becomes impossible for the Barrick workers to smoothly engage in their exploration activities.
Bribe Allegations
Back in 2014, an anonymous person accused Barrick of bribing the Tanzania government to influence Barrick’s financial interests. Even though the company fought through it, it’s still in its history, and it might be a contributing factor for you to make your choice.
Is Barrick a Scam?
Barrick is undoubtedly not a scam. It is a real company with over 20,000 workers in many different countries, including Dominican Republic, Peru, Tanzania, Chile, and more. It’s on the New York and Toronto Stock Exchange, which makes it attractive for investors.
Even though an anonymous person accused Barrick of bribing the Tanzania government, it is still a company that legally fought through that. It’s known for doing all it can to mitigate the environmental impact of its operations, and for guaranteeing ethical work conditions for its workers.
Nowadays, investors and job seekers consider Barrick because it offers many benefits. Since it’s such a big company that has succeeded for so many years, people want to take advantage of its qualities to enhance their career growth or invest in precious metals.
Final Verdict
Barrick is an immensely famous company, which focuses on mining gold and copper in different countries. Environmental strategies often back up its exploration activities since the company’s leaders care about earth-friendly solutions.
At the same time, Barrick offers a myriad of job opportunities since it has thousands of workers. Many people want to join the company and enjoy the strong work ethics and positive working environment that it offers. However, others say that this doesn’t occur, which is why you should always consider all opinions before making your choice.
This company is legit and is now one of the most important representatives of the mining industry. Thus, it’s a potential investment alternative, and a good option to look into if you’re looking for a job.
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
