Is Barrick Gold (ABX-T) Buy or Sell — Stock Predictions at Stockchase

Home Daily Stock Opinions and Ratings Barrick Gold (ABX-T)

TSE:ABX

22.47

0.01 (0.04%) 1d

WEAK BUY

If you want exposure to gold, this is one you can buy with confidence. Management doing a good job. These companies don't fit with his firm's view of the world, since their profitability tends to below market average. Despite the pullback, he wouldn't be interested.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Sep 13/22, Down 10%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with ABX has triggered its stop at $18.50. To remain disciplined, we recommend covering the position at this time.

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COMMENT

Producers have had problems with labour and input costs as well the declining price of gold. Think of gold as another currency. He would need to see gold at $2000 before getting excited about it.

precious metals

BUY

The miners are very cheap. The question is what's going to happen to the commodity, because you have to make your call on it before you look at the businesses. If the price of gold goes sideways, those companies won't do much. Right now, he likes stocks better than royalties. Royalty companies are better to have once things get going. Stocks like AEM, NGT and ABX are really down, and that's a better way to play now.

precious metals

It’s a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O'Reilly With market uncertainty mounting along with fears of continued inflation, ABX is a TOP PICK. Unlike other precious metal miners, like NGT, it trades at only 14x earnings and has a sustainable dividend that is less than 30% of earnings. We recommend placing a stop loss at $18.50, looking to achieve $29.50 -- upside potential over 40%. Yield 3.8% (Analysts’ price target is $29.75)

precious metals

DON'T BUY

Gold sector has been difficult, especially for the large caps. Very strong USD has held them back. Avoid. Look at some of the mid-sized companies. Gold has an interesting technical setup, so keep an eye on it.

precious metals

COMMENT

People are struggling to figure out how gold stocks react in this environment. Not cheap at 15x 2023. Slightly higher costs. Copper beat. If interest rates are going up, cost for gold goes down. Producers have to contend with that. He thinks price of gold is going down. Do you want to pay 15x for declining EPS profile? If you think rates are going down, and gold is going up, then this is a fine trade.

precious metals

DON'T BUY

Gold will probably do well as inflation comes off and interest rates decline, which he predicts in coming months. However, gold producers don't control the price of their product and it costs a lot to excavate that gold.

precious metals

WEAK BUY

ABX vs. AGI Agrees that gold is going higher. Doesn't own ABX or AGI. If you believe gold is going higher, do you want the high torque name, or the big diversified large cap? The answer depends on your conviction in the direction of gold. His firm is conservative, so they'd pick ABX. ABX has a better management team and asset base and is more diversified. AGI is more concentrated in 3-4 mines, so the risk is higher.

precious metals

DON'T BUY

He's not into gold miners. The gold price may rally, but a company needs to mine gold, which involves sharply rising costs these days. He models $26, though it could go to $37.63 based on positive momentum, but its earnings won't move. He won't buy it here. He much prefers physical gold over gold miners.

precious metals

PAST TOP PICK

(A Top Pick Jul 09/21, Up 22.51%) He likes it for being stable and being the largest player in the world. The price of gold will remain high because of inflation concerns and the Russian war.

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BUY on WEAKNESS

Has become more shareholder friendly. Capable CEO. Fairly strong results today. Keep your eye on it in the space. Well run. Inflation could put pressure on commodity producers and give you a better entry point.

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BUY

For older clients looking for 1-2 companies, it's great. Good dividend. A buy, with a $32 target. Solid. For cashflow, he'd rather have a small company. 30% of its geopolitical areas are dodgy, his only concern. They have leverage to the gold price. See his Top Picks.

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BUY on WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The whole sector has not moved much. It is cheap. Pays a nice dividend at 2% that is growing. Gold should do well with all the money being flooded in. Higher interest rates could hurt the sector. Exposure is warranted as insurance, and also for gains, however. Unlock Premium - Try 5i Free

precious metals

COMMENT

Believes safer than other gold companies, however better gold investments out there. Low interest rates have not rewarded gold which is a problem. Gold companies at multi-decade low valuations. Strength of US dollar is a headwind for value of gold. Crypto currencies taking investment away from gold producers as inflation hedge.

precious metals

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Barrick Gold(ABX-T) Rating

Ranking : 4 out of 5

Bullish - Buy Signals / Votes : 10

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 4

Total Signals / Votes : 14

Stockchase rating for Barrick Gold is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Barrick Gold(ABX-T) Frequently Asked Questions

What is Barrick Gold stock symbol?

Barrick Gold is a Canadian stock, trading under the symbol ABX-T on the Toronto Stock Exchange (ABX-CT). It is usually referred to as TSX:ABX or ABX-T

Is Barrick Gold a buy or a sell?

In the last year, 14 stock analysts published opinions about ABX-T. 10 analysts recommended to BUY the stock. 4 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Barrick Gold.

Is Barrick Gold a good investment or a top pick?

Barrick Gold was recommended as a Top Pick by on . Read the latest stock experts ratings for Barrick Gold.

Why is Barrick Gold stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Barrick Gold worth watching?

14 stock analysts on Stockchase covered Barrick Gold In the last year. It is a trending stock that is worth watching.

What is Barrick Gold stock price?

On 2022-12-06, Barrick Gold (ABX-T) stock closed at a price of $22.47.

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Barrick Gold(ABX-T) Rating

Barrick Gold(ABX-T) Frequently Asked Questions

What is Barrick Gold stock symbol?

Is Barrick Gold a buy or a sell?

Is Barrick Gold a good investment or a top pick?

Why is Barrick Gold stock dropping?

Is Barrick Gold worth watching?

What is Barrick Gold stock price?