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Barrick is the world’s largest pure gold mining company with more than two dozen operating mines around the world.
weakens on IRAN deal
Down 5% today because they're trying to save some cash.... Sounds like a buy to me!
With all the whack that is in, and has been in, the markets of late, I don't expect pulling gold out of the ground to look like a bad idea in the near future.
Well positioned for a rebound in gold.
Flipping on volatility for $3 every 2 Mo. 17.6% yield, and fear/elation cycles are predictable and frequent with the taper hammer looming, but not falling. Easy money pushes people away from bonds, munis aren't a sure thing, gold has an attraction, but it has started burned a lot of folks who bought high. They will look for something with intrinsic revenue generation that is detached from the dollar and hedges a general credit market collapse. Abx is a hot commodity in that context, with the clout and name recognition to pull hard. It is also a stock, so it is a quick exchange and first stop on the way to a commodity if currency is depreciating rapidly. It spikes fast, then drops fast, so strangle it with rules to get the best rate of return on global panic.
one of the more profitable gold miners at lower costs....and will make more on the way back up than its competition as well...Long IAG also
Down so low it looks like up to me... Profitable even if gold drops to $800
gold going up
Gold is headed to over $1500, which would push ABX to a price of over $24/share!!! Then when it hits $2000 within the next year, ABX will be at $48/share!
Low P/Bk and EV/EBITDA. High dividend. Debt to equity less than 1. Current ratio almost 2.
Inflation will eventually pick up
At these levels, we are down near the market crash in early 2009. Suffice to say, oversold... That said, there may be some pullback left in this one as people seem very nervous about gold lately, and the pullback of the whole gold sector is on hyper alert. Still, this is when there are values to be had - when everyone is selling. As soon as things turn around, you will have lost the "ideal" purchase price. I wouldn't pay more than ~19 and would definitely double down if we approach 18 (seems unlikely), however would hold up to high 40s or low 50s before I sold this - great dividend play as well.
at some point the us dollar will no longer be king also etf gold funds will prably fall victim to fraud with ensuing mas exedus
Why? Govt debt structure, interest expense, inflation.
the value of gold will eventually rebound.
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