Jefferies Adds Barrick Gold to North American Copper Picks

Jefferies has added Barrick Gold to its list of preferred North American copper miners, despite the company primarily generating revenue from gold. The investment bank acknowledges the unconventional nature of the call but expects Barrick’s attributable copper production to double to over 450,000 metric tons annually, contributing approximately 25% of its revenue later this decade, up from the current 10%.

Barrick Gold joins Capstone Copper, Ivanhoe Mines, and Hudbay Minerals on Jefferies’s list of top North American copper mining stocks.