A takeover battle for Canada's Osisko Mining Corp, involving three of the world's top gold producers, is more than just a testament to the quality of the company's low-cost mine, it also spotlights a shortage of top-class gold assets in politically stable areas of the world.The struggle between Goldcorp Inc and deal partners Yamana Gold Inc and Agnico-Eagle Mines Ltd underlines the appeal of buying a mine, in this case Osisko's Canadian Malartic gold mine in Quebec, rather than building one.A report on Friday that there have been recent merger talks between the world's two top gold producers, Barrick Gold Corp and Newmont Mining Corp further illustrates a purchase rather than build mentality that has overtaken the industry - cost cutting would likely be a key part of any such deal. The talks have broken down, according to the report from the Wall Street Journal, which cited unnamed sources.There have been numerous development cost overruns on major mining projects around the world in recent years and the time it takes to get permission to develop sites has been getting longer amid tighter regulation and opposition to mining from environmentalists and local communities.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 1.86% or $-0.34/share to $17.98. In the past year, the shares have traded as low as $13.43 and as high as $21.70. On average, 12822200 shares of ABX exchange hands on a given day and today's volume is recorded at 8633625.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 1.88% or $-0.38/share to $19.81. In the past year, the shares have traded as low as $14.22 and as high as $23.78. On average, 3195800 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 2319077.
Agnico Eagle Mines Limited (Agnico Eagle) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. Shares of AEM traded higher by 1.83% or $0.51/share to $28.39. In the past year, the shares have traded as low as $23.77 and as high as $35.46. On average, 2428210 shares of AEM exchange hands on a given day and today's volume is recorded at 4015330.
Yamana Gold Inc. (Yamana) is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Shares of AUY fell by 0.75% or $-0.06/share to $7.96. In the past year, the shares have traded as low as $7.93 and as high as $12.75. On average, 7984070 shares of AUY exchange hands on a given day and today's volume is recorded at 7834650.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of G fell by 0.8% or $-0.21/share to $26.01. In the past year, the shares have traded as low as $21.87 and as high as $33.80. On average, 3135960 shares of G.TO exchange hands on a given day and today's volume is recorded at 2599146.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of GG fell by 0.88% or $-0.21/share to $23.60. In the past year, the shares have traded as low as $20.54 and as high as $32.15. On average, 6785020 shares of GG exchange hands on a given day and today's volume is recorded at 3923731.
Newmont Mining Corporation, is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico. Shares of NEM fell by 0.88% or $-0.21/share to $23.54. In the past year, the shares have traded as low as $20.79 and as high as $35.44. On average, 10043400 shares of NEM exchange hands on a given day and today's volume is recorded at 5468587.
Osisko Mining Corporation is engaged in the business of acquiring, exploring, developing and operating gold properties, with interests substantially in Canada. Shares of OSK traded higher by 0.76% or $0.06/share to $8.00. In the past year, the shares have traded as low as $2.98 and as high as $8.06. On average, 5819720 shares of OSK.TO exchange hands on a given day and today's volume is recorded at 11675964.
Yamana Gold Inc. (Yamana) is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Shares of YRI fell by 0.79% or $-0.07/share to $8.76. In the past year, the shares have traded as low as $8.74 and as high as $13.16. On average, 2503710 shares of YRI.TO exchange hands on a given day and today's volume is recorded at 4457807.
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