Did you run across Barrick Gold during your search for the best precious metals investment company? Would you like to hold gold in your portfolio to help set yourself up for a comfortable future and retirement?
We're here today to tell you more about Barrick Gold Corporation and the products and services they offer. We'll share the information you need to decide whether you want to give the company your business or consider going with one of the many other precious metals companies out there.
About Barrick Gold
Barrick Gold is a mining company that was founded in 1983. Since that time, they have grown to become the largest gold mining company and have worked in 15 countries around the world. Some of these countries include The United States, Saudi Arabia, Papua New Guinea, Argentina, Cote d'Ivoire, Chile, and Australia. Currently, they are mining for gold and copper in 13 different countries.
According to the website, the company's mission is to be the most valued and trusted gold mining business sin the world. They aim to develop and own the best team and assets and deliver high returns for their partners and stockholders.
Barrick Gold lists their core values on the website as well. These values include:
Investors can purchase Barrick Gold stock from the New York Stock Exchange with the symbol GOLD or the Toronto Stock Exchange with the symbol ABX.
Barrick Gold chooses mining opportunities that will deliver high yields and offer sustained work. Currently, the company is actively mining for gold in 10 different countries and is mining for copper in three different countries. These locations include:
In addition to these active mining sites, Barrick Gold is also actively exploring other potential locations to mine gold or silver. Their exploration strategy involves consolidating land positions, assessing economic feasibility, and establishing teams to assess each potential location.
The investor relations page on the website contains a plethora of valuable information for investors and potential investors. If you are considering purchase Barrick Gold stock, checking out this section of the website would be a good idea.
Some of the key information contained on this page includes quarterly and annual reports, shares and dividends, company news, and a fact sheet with company highlight and important figures.
The company fact sheet lays out the net earnings per share over the past year, the dividends paid out per share, and the company's net earnings. Additionally, you can learn more information about each mining site, including the gold production, costs of operations, and inferred resources.
As we mentioned above, Barrick Gold values all their stakeholders and strives to provide value for each person. Part of this commitment involves doing what they can to take care of the environment and contribute to positive economic changes for their host communities.
Barrick Gold's website outlines the four different components of their sustainability strategy. These include:
Being transparent is important to Barrick Gold. They publish a sustainability report for each year and share it through the website. To learn more about how they performed over the past year, just hover over sustainability on the website and click on "Reports & Policies." This page will also include additional reports and documents, including the Conflict-Free Gold Report, Human Rights Report, GRI Content Index, Independent Assurance Statement, and United Nations Global Compact Communication on Progress in 2020.
Are There Any Red Flags for Barrick Gold?
Checking out a company's website to look for red flags can be helpful, but it doesn't always give you the full story about how the company operates. We've found that looking through reviews from past customers can be a much more reliable indication of the quality of the products and services you'll receive. The Better Business Bureau, Business Consumer Alliance, TrustLink, Trustpilot, and Google are our go-to sites to check what past customers have to say. These five sites are well-trusted and generally provide a pretty accurate window into what it will be like to work with a company.
While writing this review for Barrick Gold, we visited all of these sites to compile reviews. We were a bit surprised that we couldn't find any reviews for Barrick Gold on any of them.
Now, we didn't find any negative reviews either. However, sometimes when a company is lacking any reviews, it can make you question whether they are trustworthy enough to receive your business. You don't have the positive experiences of others to give you more confidence about choosing to work with the company. So, while the lacking reviews doesn't necessarily mean that Barrick Gold isn't a good company, it does seem a bit strange to not find any reviews since they have been in business for nearly 40 years.
Is Barrick Gold a Scam?
Now that you've read a little bit about Barrick Gold and what they have to offer, you may be wondering whether they are a scam or a legitimate company. We believe that they are absolutely legitimate. Barrick Gold has nearly 40 years of experience; it doesn't seem likely that they would have stayed around this long if they weren't legitimate.
Now, if you ask us whether we would recommend giving your business to Barrick Gold, that is a bit of a different question. While the company does appear to be legitimate, they wouldn't be our top recommendation.
First, we feel that if you want to invest in gold, you may be better off choosing a different precious metals investment company. Barrick Gold is a gold mining company, and their website doesn't make mention of offer gold bars or coins directly to investors. Rather, if you're interested in investing with the company, you'd need to purchase stock in the company.
Adding Barrick Gold to your stock portfolio wouldn't be a bad thing, but we don't think it should take the place of investing in physical gold coins or bars.
We were also a bit concerned that we weren't able to find more reviews for Barrick Gold online. Considering that the company has been in business for almost 40 years, we thought we'd at least find some reviews on our most-trusted review sites.
Pros & Cons of Barrick Gold
So, there you have it. Hopefully now you feel more informed about Barrick Gold and how the company operates. What do you think? Are they the right gold investment company for you? Or, would you like to learn more about one of our top-recommended and highly-reviewed companies before making a final decision?