
TSE:ABX
This summary was created by AI, based on 12 opinions in the last 12 months.
Barrick Mining (ABX-T) has garnered mixed reviews from experts, with differing opinions on its investment potential amid shifting market dynamics. While some maintain a positive outlook on gold due to ongoing central bank purchases and geopolitical uncertainties, others express concerns over Barrick's stewardship of shareholder capital and lagging production growth. The recent spinoff of North American assets has positioned the company within safer mining jurisdictions, yet valuation concerns remain as analysts debate its performance relative to peers. The stock has shown signs of recovery recently, attributed to rising gold prices, but experts warn that sustained performance may hinge on the company's ability to deliver consistent earnings amid volatile market conditions.
KL-T vs. ABX-T. He would prefer KL-T as it has been hit so hard. You are getting the cash and the good balance sheet.
Gold peaked in August, and has been slipping, especially the stocks. The reason is a move into copper and other recovery-based metals. That said, negative interest rates are a tailwind for gold, and you need to own 3-5% gold stocks in your portfolio. Barrick is not his first choice, prefers B2Gold or Agnico-Eagle, for example. Also, he prefers silver to gold. Bitcoin is a whole different story....
Don't have all your money in gold, but a percentage in gold or the precious metals (miners) does make sense. Doesn't know Barrick well. It's the biggest. Lowest risk way to express this trade in the market. He owns Kirkland Lake and Pan American Silver. He also owns PHYS.
Gold is not the best sector here. Had a great run. You get the grand prize by buying financials and industrials. Gold is probably still in a bull run, and you want to buy when there's doubt. Not a bad entry at these levels. Of the seniors, his favourite is Agnico Eagle, exceedingly well run with a great dividend.
He prefers Kirkland Lake and Agnico Eagle among the big producers, because they have better leverage and are streamlined. He always puts Barrick and Kinross in the same category. Kinross buys assets at low prices, but he'd rather buy the companies they buy than Kinross itself. The one positive with Barrick is Warren Buffet coming on board; big-value investors will buy Barrick and won't bother researching the mid-tiered players. That said, he expects a better-levered move from KL and AE. He has a $45 target on Barrick as a buy. Also, he's not investing in copper or base metals.