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Gold Equities May Beat Metal as Records Drive Earnings

Barrick Gold Corp., Newmont Mining Corp., and Goldcorp Inc. will outpace bullion because shares of gold producers are historically cheap and their profits are set to surge on record metal prices, fund managers and mining executives said.

“You win a lot more with the shares,” John Hathaway, who manages $2.5 billion as a managing director at Tocqueville Asset Management LP, said yesterday in an interview at the Denver Gold Forum. “You’ll see gold stocks becoming much more mainstream” in the next two to three years, he said.