
TSE:ABX
This summary was created by AI, based on 13 opinions in the last 12 months.
Experts have mixed views on Barrick Mining (ABX-T), reflecting a combination of optimism about gold's long-term prospects and concerns about Barrick's operational performance and stewardship of shareholder capital. While some analysts highlight gold's role as a diversifier and portfolio insurance amid rising global uncertainties, others criticize Barrick for lagging in production growth and facing operational challenges in regions like Mali. The company's recent strategies, including spinoffs and a focus on copper, are considered both an opportunity and a risk by different experts. Overall, sentiment towards Barrick is cautious but acknowledges the potential for future gains, depending on broader gold market conditions and production efficiency.
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.