InvestIdeas

Left-for-Dead Gold Mining Stock is Itching to Break Out

By Michael Kahn

Source: Profitable Trading

http://www.thetradingreport.com/2015/05 ... break-out/

not vested

A POSITIVE SIGN FOR GOLD STOCKS

Today's chart shows it's not all doom and gloom in the market right now... Shares of gold-mining giant Barrick Gold (ABX) are soaring.

As the world's largest gold producer, Barrick acts as a "bellwether" for the gold-stock industry. The Toronto-based company has the money to hire the best people, manage the biggest projects, and buy the most equipment.

Despite another year of falling gold prices, Barrick is still profitable. It's making money at today's gold prices, and has been successfully paying down its debt. And while the popular gold-miner fund GDX and other big names are still struggling, ABX's recent performance could mean a sign of better things to come for the sector.

As you can see from the chart below, Barrick has been unfazed by the recent market selloff. Shares are up more than 40% over the past four months, and are already up more than 25% in 2016. While many stocks are in the midst of a selloff, Barrick is one of the rare bright spots in today's market...

Source: Daily Wealth

Gold producer Barrick Gold is up around 30% in 2016.

Gold producer Barrick Gold is up around 30% in 2016.

Barrick Gold Corporation (NYSE: ABX)

Barrick Gold Corporation produces and sells gold and copper.

The company is also involved in exploration and mine development activities.

It conducts mining, development and exploration, and other activities in various countries, including the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.

Its principal properties include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, and Veladero.

As of December 31, 2014, the company had proven and probable mineral reserves of 91.1 million ounces of gold and 11.7 billion pounds of copper.

Source: Today's Big Stock

http://todaysbigstock.com/2016/07/28/ba ... yse-abx-2/

not vested

not vested

ABX consolidates

Barrick Gold Corporation engages in the exploration and development of mineral properties in the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.

It primarily explores for gold, copper, and nickel deposits.

The company’s principal properties include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, and Veladero.

As of December 31, 2015, it had proven and probable gold reserves of 91.9 million ounces; and 11.7 proven and probable copper reserves of billion pounds.

Source: Wealth Blueprint Letter

http://wealthblueprintletter.com/abx-consolidates/

ABX tries to break higher

Barrick Gold Corporation engages in the exploration and development of mineral properties in the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.

It primarily explores for gold, copper, and nickel deposits.

The company’s principal properties include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, and Veladero.

Source: Wealth Blueprint Letter

http://wealthblueprintletter.com/abx-tr ... ak-higher/

not vested

Soros More Than Doubles Stake in Barrick Gold as Shares Drop

by Luzi-Ann Javier

Holdings in miner climb by 1.78 million shares to 2.85 million
Investor rebuilds stake during quarter when stock declined 16%

Source: Bloomberg

http://www.bloomberg.com/news/articles/ ... yptr=yahoo

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This Stock Could Deliver a 49.6% Return in 12 Months of Less

Barrick’s is one of the lowest in the industry at $760. If we assume that gold prices hit the forecast $1,400 an ounce target this year, the company could be producing profit margins that are close to 50%.

The company has also set a goal of lowering its AISC to under $700 by 2020 as it boosts long-term production and slashes corporate debt.

Source: Money Morning

http://dailytradealert.com/2017/03/27/t ... s-of-less/

not vested

Barrick Gold slashes Argentina mine output forecast after spill

By Nicole Mordant

April 24 (Reuters) - Barrick Gold reported weaker-than-expected quarterly earnings on Monday and also slashed its forecast for output and hiked costs at its gold mine in Argentina, where cyanide solution spilled recently for the third time in 18 months.

Barrick, which is the world's largest gold miner, also lowered its forecast for 2017 group gold production largely because of the sale of a 50 percent stake in the Argentinian mine, Veladero, to a Chinese miner last month.

Its shares fell more than 3 percent after hours.

Barrick said it expects normal operations to resume at Veladero in June, pending government approval and the lifting of judicial restrictions.

Argentine regulators suspended the addition of cyanide to Veladero's leach pad processing operation and told Barrick to overhaul environmental practices and operations at the mine following the March 28 spill.

The June date was based on its "assessment of the time required to complete the proposed modifications to the leach pad," Barrick said in a statement.

Barrick said it now expects full-year production at Veladero of 630,000 to 730,000 ounces of gold, at all-in sustaining costs of $890 to $990 per ounce.

That is 12 percent to 18 percent down from Barrick's previous forecast of 770,000 to 830,000 ounces. It had previously expected mine costs of $840 to $940 per ounce.

Until now Barrick had said it does not expect a material impact from the spill to its 2017 Veladero forecasts.

Veladero is Argentina's largest gold mine and Barrick's third largest contributor to output.

Barrick said April 5 that China's Shandong Gold Mining Co would pay $960 million for 50 percent of Veladero, which is one of Barrick's five core mines.

Largely due to the sale, Barrick now expects to produce between 5.3 million and 5.6 million ounces of gold in 2017 across the group, down from an earlier forecast of 5.6 million to 5.9 million ounces. Group cost forecasts remain unchanged.

Barrick and Shandong had a $500 million improvement plan for Veladero, Barrick Chief Operating Officer Richard Williams said on Friday after meeting Argentinian government officials. Argentina's Energy and Mining Minister said analyzing the plan would take about two weeks.

Barrick reported group adjusted earnings of $162 million, or 14 cents a share, in the first quarter. That was up from $127 million, or 11 cents a share, in the same period last year but below analysts' forecasts of 20 cents per share, partly because costs rose.

Source: Reuters