Good Reads
Elliott Management Built 'Large' Stake in Barrick
US activist hedge fund Elliott Management has accumulated a large stake in Barrick Mining (NYSE: B) amid speculation that the Canadian-based gold-copper miner may undergo major changes, the Financial Times reported on Tuesday. It follows a Reuters report last week which revealed the Barrick board is considering splitting the company into two separate entities, one focused on the “safer” North American assets and the other on mines across the “riskier” Africa and Asian regions. Read on »
Shakeout in the gold price and correlation with risk appetite
Despite its historical reputation as a portfolio diversifier, gold has developed a positive correlation with risk of late. High realized volatility in the gold price and its dwindling momentum may discourage the exchange-traded funds whose inflows had been the primary driver of recent strength, leaving central banks as the main bider in the market. This explains why Deutsche Bank has pinned a $4,000-per-ounce average price target on gold in 2026, while adopting a strategically bullish bias and anticipating potential upside to that forecast. Read on »
Gold Miners’ Q3’25 Fundamentals
Gold miners’ Q3 earnings season just wrapped up, and the majors’ results proved spectacular. And they really needed to be, to fundamentally justify gold stocks’ monster bull run this year. Gold miners are earning money hand-over-fist in this lofty gold-price environment, achieving many all-time records. Their massive profits consistently skyrocketing for over a couple years now still warrant big future gold-stock gains. Read on »
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