Dernières nouvelles pour Barrick Gold (NYSE:GOLD) Stock

Barrick Gold

NASDAQ

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.

Barrick Gold Corporation Common Stock (BC)

Barrick Gold Corp

GOLD CANYON BANK (AZ) by Gold Canyon Bank (Gold Canyon AZ)

GOLD MOUNTAIN LTD by GOLD MOUNTAIN LTD.

GOLDAS KUYUMCULUK S/ADR by Goldas Kuyumculuk Sanayi Ithalat Ihracat A.S.

GOLDEN AGE RESOURCES INC by Golden Age Resources, Inc.

GOLDEN ARROW MERGER CORP UNIT 1 CL A & 1/3 WT EXP

GOLDEN EAGLE RET UNSP/ADR by Golden Eagle Retail Group Ltd.

GOLDEN EAGLE RETAIL GRP by Golden Eagle Retail Group Ltd.

GOLDEN ENERGY & RES LTD by GOLDEN ENERGY & RES LTD.

GOLDEN PROSPECT PREC MTLS by GOLDEN PROSPECT PRECIOUS METALS LTD.

GOLDEN RAPTURE MNG CORP by GOLDEN RAPTURE MNG CORP.

GOLDOZ LTD by GOLDOZ LTD.

GOLD BASIN RESOURCES CORP by Gold Basin Resources Corporation

Gold Basin Resources Corp

Gold Bull Resources Corp

GOLD BULL RESOURCES CORP by Gold Bull Resources Corp.

GOLD DIGGER RES INC by Gold Digger Resources Inc.

Gold Digger Resources Inc

GOLD ENTMT GROUP INC by Gold Entertainment Group, Inc.

Gold Entertainment Group Inc

Gold Fields Limited American Depositary Shares

Gold Fields Ltd

Gold Flora Corp

Gold Flora Corp Warrants (15/01/2026)

GOLD HUNTER RES INC by GOLD HUNTER RES INC

Gold Hunter Resources Inc

GOLD HYDROGEN LIMITED by Gold Hydrogen Limited

Gold Hydrogen Ltd

Gold Line Resources Ltd Ordinary Shares

GOLD MTN MNG CORP by Gold Mountain Mining Corp.

Gold Mountain Mining Corp

Gold Port Corp

GOLD RESV LTD BERMUDA by Gold Reserve Ltd. (Bermuda)

Gold Reserve Ltd

Gold Resource Corp

GOLD RIVER PRODS INC by Gold River Productions, Inc.

Gold River Productions Inc

GOLD ROAD RES LTD ORD by Gold Road Resources Ltd.

Gold Road Resources Ltd

GOLD ROCK HLDGS INC A by Gold Rock Holdings, Inc.

Gold Rock Holdings Inc

Gold Royalty Corp

GOLD SPRNGS RESOURCE CORP by GOLD SPRINGS RESOURCE CORP.

Gold Springs Resource Corp

GOLD TERRA RESOURCE CORP by GOLD TERRA RESOURCE CORP.

Gold Terra Resource Corp

GOLD AND GEMSTONE MNG INC by Gold and GemStone Mining Inc.

Gold and GemStone Mining Inc

GOLD'N FUTURES MINERL CP by Gold'n Futures Mineral Corp.

Gold n Futures Mineral Corp

Gold79 Mines Ltd

GOLDHAVEN RESOURCES CORP by GoldHaven Resources Corp

GoldHaven Resources Corp

GoldHaven Resources Corp Ordinary Shares

GoldMining Inc

GoldMoney Inc

GOLDON RESOURCES LTD ORD by Goldon Resources Ltd

GoldON Resources Ltd

GOLDQUEST MINING CORP by Goldquest Mining Corp.

GoldQuest Mining Corp

GOLDBANK MINING CORP by Goldbank Mining Corp.

Goldbank Mining Corp

GOLDCLIFF RES CORP ORD by Goldcliff Resource Corp.

Goldcliff Resource Corp

Goldcoin

Goldcrest Co Ltd

GOLDEN AGRI-RES ORD by Golden Agri-Resources

Golden Agri-Resources Ltd

GOLDEN AGRI-RES UNSP/ADR by Golden Agri-Resources

GOLDEN ALLY LIFETECH GRP by Golden Ally Lifetech Group Inc.

Golden Ally Lifetech Group Inc

GOLDEN APPLE OIL&GAS INC by Golden Apple Oil & Gas, Inc.

Golden Apple Oil and Gas Inc

GOLDEN ARROW RES CP NEW by Golden Arrow Resource Corp.

Golden Arrow Resources Corp

GOLDEN BAND RESOURCES by Golden Band Resources Inc.

Golden Band Resources Inc

Golden Cariboo Resources Ltd

GOLDEN CARIBOO RES LTD by Golden Cariboo Resources Ltd.

GOLDEN DEVELOPING SOL by Golden Developing Solutions, Inc.

Golden Developing Solutions Inc

Golden Energy Offshore Services ASA

GOLDEN ENRGY OFFSHORE SVC by Golden Energy Offshore Services ASA

Golden Entertainment, Inc. - Common Stock

Golden Entertainment Inc

Golden Goliath Resources Ltd

GOLDEN GOLIATH RES LTD by Golden Goliath Resources Ltd.

GOLDEN GRAIL TECH CORP by Golden Grail Technology Corp

Golden Grail Technology Corp

Golden Grain Energy

Golden Growers Coop

GOLDEN HARP RES INC NEW by Golden Harp Resources Inc.

Golden Harp Resources Inc

Golden Heaven Group Holdings Ltd. - Class A Ordinary Shares

Golden Heaven Group Holdings Ltd

GOLDEN HORSE MINERALS LTD by GOLDEN HORSE MINERALS LTD

Golden Horse Minerals Ltd

GOLDEN LAKE EXPL INC by GOLDEN LAKE EXPL INC.

Golden Lake Exploration Inc

Golden Matrix Group Inc

Golden Minerals Co

Golden Ocean Group Limited - Common Stock

Golden Ocean Group Ltd

GOLDEN PATRIOT CORP by Golden Patriot Corp.

Golden Patriot Corp

GOLDEN PHOENIX MINERALS by Golden Phoenix Minerals, Inc.

Golden Phoenix Minerals Inc

GOLDEN PURSUIT RES LTD by Golden Pursuit Resources Ltd.

Golden Pursuit Resources Ltd

GOLDEN RES DEV INTL by Golden Resource Development International

Golden Resources Development International Ltd

GOLDEN RIDGE RESOURCS NEW by Golden Ridge Resources

Golden Ridge Resources Ltd

GOLDEN ROYAL DEV INC by GOLDEN ROYAL DEVELOPMENT INC.

Golden Royal Development Inc

Golden Sachs ETF Trust Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF

GOLDEN SHIELD RES INC by GOLDEN SHIELD RES INC.

Golden Shield Resources Inc

GOLDEN SKY MINERALS NEW by GOLDEN SKY MINERALS CORP.

Golden Sky Minerals Corp

GOLDEN SPIKE RES CORP by Golden Spike Resources Corp.

Golden Spike Resources Corp

Golden Star Acquisition Corporation - Ordinary Shares

Golden Star Acquisition Corp

Golden Star Acquisition Corporation - Unit

Golden Star Acquisition Corporation - Rights

Golden Star Enterprises Ltd

GOLDEN STAR RES CORP by Golden Star Resource Corp

Golden Star Resources Corp

GOLDEN STATE BANCORP by Golden State Bancorp

Golden State Bancorp

Golden Sun Health Technology Group Limited - Class A Ordinary Shares

Golden Sun Health Technology Group Ltd

Golden Tag Resources Ltd

GOLDEN TRIANGLE VENTURES by GOLDEN TRIANGLE VENTURES INC.

Golden Triangle Ventures Inc

GOLDEN VY BANCSHARES INC by GOLDEN VY BANCSHARES INC.

Golden VY Bancshares Inc

GOLDEN VALLEY DEVELOPMENT by Golden Valley Development, Inc.

Golden Valley Development Inc

Goldenstone Acquisition Limited - Rights

Goldenstone Acquisition Limited - Common Stock

Goldenstone Acquisition Ltd

MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) on Wednesday announced an increase in its convertible senior notes offering to $2.6 billion from its initial $1.75 billion, signaling its <a href="https://www.benzinga.com/24/11/42079799/microstrategys-michael-saylor-to-advocate-for-bitcoin-investment-at-microsoft-board-meeting-offers-to-educate-rumble-ceo-with-the-strategy">continued aggressive stance</a> on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) accumulation.
The company plans to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.
What Happened: This <a href="https://www.businesswire.com/news/home/20241120130094/en/MicroStrategy-Announces-Pricing-of-Offering-of-0-Convertible-Senior-Notes">announcement </a>comes as Bitcoin's price surges past $94,000, propelling MicroStrategy's market capitalization to $96.73 billion, surpassing the combined value of Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), the world's two largest gold mining companies.
The 0% convertible senior notes, due 2029, will be offered to qualified institutional buyers under Rule 144A of the Securities Act and certain non-U.S. persons in compliance with Regulation S. 
With an initial conversion price set at $672.40 per share—a 55% premium over the November 19 closing price—the offering highlights strong institutional demand.
MicroStrategy expects to raise $2.58 billion in net proceeds, potentially reaching $2.97 billion if initial purchasers exercise their option to acquire additional notes. 
The offering is set to close on Nov. 21, pending customary conditions.
The upsized offering underscores MicroStrategy's commitment to Bitcoin as <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41878981/microstrategy-acquires-another-27200-bitcoin-worth-2-billion">a treasury reserve asset</a>, a strategy that has significantly boosted its market value.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">Robinhood Positioned As Top &#8216;Crypto Deregulation&#8217; Trade, Says Bernstein</a>
Why It Matters: The company's valuation now outpaces Newmont's $49.16 billion and Barrick Gold's $31.11 billion, reflecting the growing influence of digital<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42083188/mstr-rises-3-in-wednesday-pre-market-michael-saylors-company-is-now-worth-more-than-the-combined-market-caps-of-worlds-two-largest-gold-mining-companies"> assets over traditional commodities.</a>
"MicroStrategy's market cap exceeding these gold giants demonstrates the transformative potential of Bitcoin," said Peter Schiff, who questioned whether MicroStrategy could soon surpass the entire gold mining industry's capitalization.
MicroStrategy's stock has surged 3.36% in pre-market trading, driven by Bitcoin's rally to over $94,000.
The company recently acquired 51,780 bitcoin between Nov. 11 and 17 for $4.6 billion, further consolidating its position as the largest corporate holder of the cryptocurrency.
Its Bitcoin holdings now exceed 331,000 BTC, with a cumulative acquisition cost of over $16 billion.
Executive chairman Michael Saylor has positioned Bitcoin as a hedge against inflation, a strategy initiated in 2020 that has paid off amid surging cryptocurrency prices.
While MicroStrategy doubles down on Bitcoin, other major players like Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) continue to focus on traditional assets. 
Goldman <a href="https://www.benzinga.com/markets/commodities/24/11/42036300/go-for-gold-says-goldman-sachs-precious-yellow-metal-price-would-rise-in-2025-amid-central-bank-buying-fed-rate-cuts">recently projected gold prices</a> to reach $3,000 per ounce by the end of 2025, emphasizing its role as a leading commodity trade.
Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency"> Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

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$BTC

GOLD

MSTR

MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases

MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is making headlines as its stock climbs in pre-market trading, driven by Bitcoin&#8217;s impressive rally. The company&#8217;s market value has now outstripped the combined worth of the world&#8217;s two largest gold mining companies.
MicroStrategy saw its shares rise by 3.36% as <a href="https://www.benzinga.com/24/11/42079312/bitcoin-dogecoin-gain-ethereum-drops-as-blackrocks-etf-options-volume-breaches-1b-on-debut-analyst-flags-opportunity-to-buy-eth-before-it-outperforms-btc">Bitcoin&#8217;s price exceeded $93,000</a>. According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, the company has now surpassed the market value of the two largest gold mining firms globally, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>).
The market capitalization of&nbsp;MicroStrategy&nbsp;stands at $96.732 billion, significantly higher than&nbsp;Newmont&#8217;s&nbsp;$49.16 billion and&nbsp;Barrick Gold&#8217;s&nbsp;$31.11 billion. This valuation boost follows the <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42066712/microstrategy-stock-continues-to-climb-whats-going-on-2">company&#8217;s recent acquisition</a> of 51,780 Bitcoin, valued at $4.6 billion, completed&nbsp;between Nov. 11 and Nov.17.
Peter Schiff commented on the feat by MicroStrategy on Wednesday, &#8220;I wonder how much longer it will take before MSTR&#8217;s market cap exceeds the capitalization of the entire gold mining industry!&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is insane. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a>&#39;s market capitalization now exceeds the combined market caps of <a href="https://twitter.com/search?q=%24NEM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEM</a> and <a href="https://twitter.com/search?q=%24GOLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOLD</a>, the two largest gold mining companies in the world. I wonder how much longer it will take before MSTR&#39;s market cap exceeds the capitalization of the entire gold mining industry!
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1858954216816918560?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42053687/peter-schiff-pokes-fun-at-microstrategys-bitcoin-buying-spree-michael-saylor-is-gonna-need-a-bigger-plan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Pokes Fun Of MicroStrategy&#8217;s Bitcoin Purchase: &#8216;Michael Saylor Is Gonna Need A Bigger Plan&#8217;</a>
Led by co-founder and chairman&nbsp;Michael Saylor,&nbsp;MicroStrategy&nbsp;has pivoted its strategy towards Bitcoin since 2020, viewing it as a hedge&nbsp;against inflation. 
Meanwhile, Goldman Sachs has given a &#8220;go for gold&#8221; as a <a href="https://www.benzinga.com/markets/commodities/24/11/42036300/go-for-gold-says-goldman-sachs-precious-yellow-metal-price-would-rise-in-2025-amid-central-bank-buying-fed-rate-cuts">leading commodity trade</a> for 2025, with prices expected to reach $3,000 per ounce by December 2025.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42053406/bitcoin-ethereum-dogecoin-rise-amid-tesla-fueled-tech-stocks-rally-popular-analyst-says-btc-could-reach-138k-before-major-pullback?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Rise Amid Tesla-Fueled Tech Stocks Rally: Popular Analyst Says BTC Could Reac</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo by JOCA_PH on Shutterstock

Markets

General

MSTR Rises 3% In Wednesday Pre-Market: Michael Saylor's Company Is Now Worth More Than The Combined Market Caps Of World's Two Largest Gold Mining Companies

WIIM

PAAS

Shares of precious metals stocks are trading higher amid a rise in the price of gold and silver, which are rebounding after falling last week.

Deep-pocketed investors have adopted a bullish approach towards Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOLD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Barrick Gold. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $74,130, and 6 are calls, amounting to $501,560.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $27.0 for Barrick Gold over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Barrick Gold's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Barrick Gold's whale trades within a strike price range from $10.0 to $27.0 in the last 30 days. 
<h3>Barrick Gold Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731690079_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.5</td>
<td>$15.00</td>
<td>$192.1K</td>
<td>13.9K</td>
<td>610</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$1.48</td>
<td>$1.4</td>
<td>$1.45</td>
<td>$20.00</td>
<td>$145.0K</td>
<td>51.5K</td>
<td>1.0K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$1.09</td>
<td>$1.03</td>
<td>$1.03</td>
<td>$27.00</td>
<td>$66.9K</td>
<td>859</td>
<td>650</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$2.56</td>
<td>$2.44</td>
<td>$2.44</td>
<td>$18.00</td>
<td>$48.8K</td>
<td>2.9K</td>
<td>239</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.2</td>
<td>$6.05</td>
<td>$7.16</td>
<td>$10.00</td>
<td>$35.6K</td>
<td>4.3K</td>
<td>50</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
<h3>Where Is Barrick Gold Standing Right Now?</h3>
<ul>
<li>With a trading volume of 7,930,339, the price of GOLD is down by -0.62%, reaching $16.75.</li>
<li>Current RSI values indicate that the stock is may be oversold.</li>
<li>Next earnings report is scheduled for 89 days from now.</li>
</ul>
<h3>What The Experts Say On Barrick Gold</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $23.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Scotiabank persists with their Sector Outperform rating on Barrick Gold, maintaining a target price of $24. 
&#x2A; Reflecting concerns, an analyst from UBS lowers its rating to Neutral with a new price target of $22.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Barrick Gold with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Barrick Gold Unusual Options Activity For November 15

Mali's military government is demanding a $162 million tax settlement from Australia's Resolute Mining (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMGGY#OTC">RMGGY</a>) following the detention of its CEO, Terry Holohan, <a target="_blank" href="https://www.benzinga.com/news/management/24/11/41876770/resolute-mining-ceo-detained-in-mali-shares-crater" rel="noreferrer noopener">during a visit to the country.</a>
Holohan was detained in Bamako, Mali's capital, along with two colleagues after attending meetings with tax and mining authorities.
This action has escalated tensions between the country's military junta and foreign mining companies, a crucial source of tax revenue.
After shares fell more than 40%, the Australian Securities Exchange halted trading, pending further news from the company, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-14/resolute-shares-suspended-after-mali-demands-160-million" rel="noreferrer noopener">per</a> Bloomberg.
Mali, Africa's third-largest gold producer, significantly contributes to the global gold supply, attracting several prominent international mining companies. Alongside Resolute, which operates the Syama mine, other notable miners active in Mali include Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), operator of the Loulo-Gounkoto complex, as well as Allied Gold Corp. and B2Gold Corp., which manage the Sadiola and Fekola mines.
Resolute reported producing approximately 331,000 ounces of gold across its African sites in 2023, with Syama as its flagship Malian project. Still, the company's fiscal position at the end of the last quarter included a net cash reserve of $146 million – which is less than what the junta demands.
Resolute's contract for the Syama, set to run through 2029, previously granted favorable operational terms. However, the junta, which has governed Mali since 2020, recently began pressuring mining companies to renegotiate economic terms in a bid to increase national revenue from resources.
This trend coincides with a surge in the global gold market, with prices rising by 28% year-to-date. In a recent<a target="_blank" href="https://www.rml.com.au/wp-content/uploads/2024/11/11-11-24-ASX-RSG-Company-Statement.pdf" rel="noreferrer noopener"> statement</a>, Resolute called the Malian government's tax claims "unsubstantiated" and expressed its intention to work with authorities toward a resolution.
The junta's demands on Resolute are not isolated. Barrick Gold has also come under scrutiny, with the government seeking $500 million in funds that it claims are owed.
Despite the tensions, Barrick CEO Mark Bristow <a target="_blank" href="https://www.barrick.com/English/news/news-details/2024/barrick-responds-to-mali-government-claims-of-breaching-its-commitments/default.aspx" rel="noreferrer noopener">indicated</a> that his company is engaged in discussions with Malian authorities to achieve a "mutually acceptable outcome." He noted that the firm paid out $85 million in the context of ongoing negotiations.
Barrick's Loulo-Gounkoto complex remains one of its most productive assets, yielding 683,000 ounces in 2023 from its total production of 4.05 million ounces. A disruption of such Tier 1 operation would have a notable impact on the company and the broader market.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41955977/trump-ignites-investor-optimism-for-growth-small-caps-us-dollar-bank-of-america-survey" target="_blank" rel="noreferrer noopener">Trump Ignites Investor Optimism For Growth, Small Caps, US Dollar: Bank Of America Survey</a></li>
</ul>
Photo by Hans via Pixabay

Government

Large Cap

Commodities

Tech

RMGGY

Mali Demands $162 Million From Resolution, Trading Suspended

SBSW

USGO

Shares of precious metals stocks are trading lower as gold prices drop amid a rise in the US dollar.

Shares of precious metals stocks are trading lower as gold and silver drop amid a rise in the US dollar.

Resolute Mining (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMGGY#OTC">RMGGY</a>) CEO Terry Holohan, along with two other company executives have been detained by the military-led government in <a target="_blank" href="https://www.benzinga.com/topic/africa" rel="noreferrer noopener">Mali</a>.
What Happened: The executives traveled to Bamako, Mali's capital, for meetings with local mining and tax authorities to address concerns over the company's in-country practices.
Resolute asserts that these claims are unfounded and that all official processes have been followed, yet Holohan and the other executives were "unexpectedly detained" on November 8. The company <a target="_blank" href="https://www.rml.com.au/wp-content/uploads/2024/11/11-11-24-ASX-RSG-Company-Statement.pdf" rel="noreferrer noopener">confirmed</a> the detention, stating that the executives are receiving support from U.K. and international consulates.
Why it Matters: The Malian military junta has been escalating its efforts to tighten control over foreign mining operations, as mining is a critical part of the economy.
The junta, which seized power in a 2020 coup, has been renegotiating existing contracts under a mining code introduced in 2023 that allows for an increase in state ownership in mining projects from 20% to 35%.
The government's approach has already led to similar incidents, such as the detention of four Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) employees in September. The detention was tied to allegations of financial misconduct amid discussions over environmental and regulatory commitments at Barrick's Loulo-Gounkoto mines. The junta has warned it might let the Loulo mine concession<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/10/41571989/mali-government-threatens-barricks-loulo-mine-permit-over-disputes-on-economic-benefit-sharin" rel="noreferrer noopener"> expire in 2026</a>.
Resolute's Syama gold mine in Mali is one of the company's two primary assets, contributing nearly 60% of its total gold output in 2023.
The mine, in which the government holds a 20% stake, is a long-term project vital to Resolute's operations, with a second phase scheduled for 2025.
Despite adhering to all regulatory procedures, Resolute's commitment to maintaining favorable contract terms for Syama appears to have clashed with Mali's new policies.
"Resolute's utmost priority remains the safety and well-being of its employees," the company said, affirming its intention to continue discussions with authorities.
Resolute's situation points at escalating risks of operating in Mali. Other companies such as B2Gold, Allied Gold, and AngloGold Ashanti will now be on high alert.
Market Watch: Resolute's shares dropped 32.84% following the news, closing the day on the Australian Securities Exchange at A$0.45.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/11/41842671/mineral-resources-confirms-founders-departure-amid-tax-evasion-allegations-moodys-cuts-outlook" target="_blank" rel="noreferrer noopener">Mineral Resources Confirms Founder's Departure Amid Tax Evasion Allegations, Moody's Cuts Outlook</a></li>
</ul>
Photo via Shutterstock

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Resolute Mining CEO Detained In Mali, Shares Crater

GATO

SAND

Shares of metals and materials companies are trading lower. The sector may be reacting to China's recent stimulus efforts which have struggled to buoy the economy and business conditions.

Scotiabank analyst Tanya Jakusconek maintains Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) with a Sector Outperform and lowers the price target from $25 to $24.

Price Target

Analyst Ratings

Scotiabank Maintains Sector Outperform on Barrick Gold, Lowers Price Target to $24

Barrick Gold Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) shares are trading lower after it reported&nbsp;third-quarter FY24 revenue of&nbsp;$3.368 billion (+18% year over year),&nbsp;missing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41800414/barrick-mines-set-to-deliver-strong-finish-to-the-year" rel="noreferrer noopener">the&nbsp;consensus of&nbsp;$3.416 billion</a>.&nbsp;
Gold production stood at 943 thousand ounces (-9%), and gold sales were 967 thousand ounces (-6%).
The average realized gold price rose 29% to $2,494 per ounce, and all-in-sustaining costs (AISC) rose 20% to $1,507 per ounce in the quarter.
Read: <a href="https://www.benzinga.com/markets/equities/24/10/41365127/barrick-sees-stable-gold-output-in-q3-prepares-for-stronger-q4">Barrick Sees Stable Gold Output In Q3, Prepares For Stronger Q4</a>
Copper production declined&nbsp;6% to 48 thousand tonnes, and the average realized copper price rose&nbsp;13% to&nbsp;$4.27 per pound.
Adjusted EPS of 30 cents missed <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the consensus of 31 cents</a>.
At the end of the quarter, cash and cash equivalents stood at&nbsp;$4.23 billion, and debt was&nbsp;$4.725 billion.
Capital expenditure fell 4% to&nbsp;$736 million, and operating cash flow stood at&nbsp;$1.18 billion.&nbsp;
President and chief executive Mark Bristow said, "The company was again planning to replace mineral reserves net of depletion in 2024 by a significant margin, driven by the contributions from the Reko Diq copper-gold project and the Lumwana Super Pit expansion project.&#8221;
&#8221;The feasibility studies for both projects are on track for completion by the year-end. Long lead items are being ordered and key project team members are being recruited."&nbsp;
&#8220;The Fourmile project in Nevada continues to show exciting value potential, and significant new satellite orebody opportunities have been highlighted at Loulo and Kibali. In addition, our exploration teams are working on very promising new prospects across our portfolio,&#8221; Bristow added.
Dividend: GOLD declared a second-quarter dividend per share of 10 cents, payable on December 16, to shareholders of <a href="https://www.benzinga.com/pressreleases/24/11/g41800290/barrick-declares-q3-dividend-and-buys-back-additional-shares" target="_blank" rel="noreferrer noopener">record as of Nov. 29, 2024</a>.
Repurhcase: The company repurchased 4.725&nbsp;million shares in the quarter under the&nbsp;$1 billion&nbsp;buyback program announced in February 2024.
FY24 Outlook Reiterated: The company continues to project attributable gold production in the range of 3.9-4.3 million ounces and AISC in the range of <a href="https://www.benzinga.com//node/40311708" target="_blank" rel="noreferrer noopener">$1,320–$1,420 per ounce</a>.
For 2024, capital expenditure&nbsp;is expected to be <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">within&nbsp;$2.50 billion-$2.90 billion</a>.
Investors can gain exposure to the stock via&nbsp;Sprott Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and&nbsp;VanEck Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: GOLD shares are down 2.17% at $18.01 at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41795668/peter-schiff-says-cutting-taxes-is-easy-but-reducing-spending-not-so-simple-warns-of-inflation-s" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Cutting Taxes Is Easy&#8217; But Reducing Spending Not So Simple, Warns Of Inflation Spike Under Trump</a></li>
</ul>
Photo courtesy: Michael Sutton via Flickr

Earnings

Equities

Guidance

Market Vectors ETF Trust Market Vectors Gold Miners

SGDM

Barrick Gold Misses Earnings: Reports Lower Gold Sales And Copper Output

Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) reported quarterly earnings of $0.30 per share which missed the analyst consensus estimate of $0.31 by 3.23 percent. This is a 25 percent increase over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $3.368 billion which missed the analyst consensus estimate of $3.416 billion by 1.42 percent. This is a 17.68 percent increase over sales of $2.862 billion the same period last year.

Earnings Misses

Barrick Gold Q3 2024 Adj. EPS $0.30 Misses $0.31 Estimate, Sales $3.368B Miss $3.416B Estimate

Renowned economist Peter Schiff advised investors to buy gold dips amid concerns over potential inflation following Donald Trump&#8216;s presidential election victory over Kamala Harris.
What Happened: &#8220;The best Trump trade now is buying the dip in gold and gold mining stocks,&#8221; Schiff posted on X. &#8220;Cutting taxes is easy. We know from experience that substantive spending cuts are impossible. Even Reagan couldn&#8217;t do it, despite making greater promises to do so. Trump will make inflation great again.&#8221;
Trump secured 277 electoral votes and 51% of the popular vote against Harris, according to Associated Press figures. 
Major gold mining stocks, including Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and Royal Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>), declined over 2% on Wednesday, while gold spot prices traded at $2,656, down 0.09%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The best <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> trade now is buying the dip in <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> and gold mining stocks. Cutting taxes is easy. We know from experience that substantive spending cuts are impossible. Even Reagan couldn&#39;t do it, despite making greater promises to do so. Trump will make <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> great again.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1854213969382162539?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41794926/trump-white-house-could-unlock-trillion-dollar-ai-potential-for-tesla-says-dan-ives">Trump White House Could Unlock Trillion-Dollar AI Potential For Tesla, Says Dan Ives</a>
Why It Matters: A recent Wall Street Journal survey found <a href="https://www.benzinga.com/news/24/10/41312782/trumps-economic-policies-expected-to-drive-inflation-and-deficits-higher-than-harris-economists-say">that 68% of economists expect higher inflation</a> under Trump&#8217;s economic policies compared to Harris&#8217;s proposals, up from 56% in July. The survey, conducted October 4-8, showed only 12% anticipated higher inflation under Harris.
Trump previously announced plans to appoint Tesla Inc CEO Elon Musk as &#8220;Secretary of Cost-Cutting&#8221; to lead a new government efficiency commission. Speaking at New York&#8217;s Madison Square Garden, Musk claimed he <a href="https://www.benzinga.com/startups/24/11/41704205/elon-musk-says-we-can-cut-2-trillion-out-of-the-harris-biden-budget-and-that-americans-money-is-bein">could reduce federal spending by $2 trillion</a>. The commission would conduct &#8220;a complete financial and performance audit of the entire federal government,&#8221; according to Trump.
Economist Justin Wolfers raised <a href="https://www.benzinga.com/news/24/11/41795320/trumps-20-tariff-plans-could-unleash-wave-of-spending-on-big-ticket-buys-in-holiday-quarter-says-eco">concerns about potential consumer behavior</a>, noting on X: &#8220;I wonder whether we are going to see a burst of spending on consumer durables in Q4, as people pull forward spending on big ticket items ahead of the tariffs.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41737614/elon-musks-political-posts-garner-17b-views-since-endorsing-trump-outpace-all-political-campaign-ads">Elon Musk&#8217;s Political Posts Garner 17B Views Since Endorsing Trump, Outpace All Political Campaign Ads Combined On X: Study Reveals 87 Misleading Claims With 2B Views</a></li>
</ul>
Image Via Unsplash
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

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