Q: Hello. As between Newmont and Barrick, which would you rather own and why? What would be a good entry point for your pick? Thanks!
5i Research Answer:
Valuations are similar, but we think ABX is simply a better-run company and it is also outperforming NEM. Its balance sheet is also much stronger after NEM's recent acquisitions. NEM also recently cut its dividend (to be fair, ABX did as well, but two years ago). We think $21 would be a good price.