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Barrick Gold Corp. Nov 04
Standard & Poors, Nov 2004
Abstract
Long-life, low-cost reserve base, with a strong pipeline of development projects Low geopolitical risk Conservative financial profile Hedges to mitigate gold price weakness Increasing exposure to volatile precious metals prices Large capital expenditures to execute mine development plans The ratings on Barrick Gold Corp. reflect the company's strong position as the third-largest gold producer in the world, cash costs that are among the lowest in the industry, low geopolitical risk relative to its peers, and a conservative financial profile. These strengths are offset by the company's very narrow revenue diversity and increasing exposure to volatile gold prices, as well as by the company's large-growth capital expenditure plans. Barrick's above-average business profile is supported by its large base of low-cost mines,...
Companies mentioned in this report are: Barrick Gold Corp.,Barrick Gold Finance Corp.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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