Antofagasta Pays ‘Punchy’ Price in $1 Billion Barrick Deal
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Antofagasta Plc paid a hefty price for the $1 billion stake in a Barrick Gold Corp. copper mine in Chile, analysts said. The stock fell to a six-year low.
“This looks like a pricey deal,” Cailey Barker, an analyst at Numis Securities Ltd. in London, said in a note on Friday. “The price is punchy. Barrick looks like the winner.”