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Investors have it wrong. The Barrick-Goldcorp-Kinross deal is a smart move Add to ...

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The three-cornered deal announced on Tuesday by Barrick Gold Corp., Goldcorp Inc. and Kinross Gold Corp. is better than the market thinks it is.

While investors’ reaction was immediately and uniformly negative – Goldcorp stock plummeted and Barrick and Kinross shares both lost ground – the shuffle of assets seems like an eminently sensible transaction.

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