‘Show Me the Money’: Record Gold Price Is Test for Top Miners
A mine worker hammers a large ingot of gold.
Photographer: Simon Dawson/Bloomberg
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Gold prices are hovering around record highs, but Barrick Gold Corp. and Newmont Corp. have frustrated investors by failing to capitalize on bullion’s rally. The next 10 days gives the top producers a chance to win back skeptical shareholders.
As Barrick prepares to kick off the gold industry’s latest earnings season on Wednesday, investors are watching to see if the sector can move past disappointments in the third quarter. Newmont and Barrick both fell short of Wall Street expectations in October due in part to higher-than-expected costs and production challenges.