Stock in Focus: Barrick Gold Corporation (ABX)

Company Profile:

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia. It also owns gold mines and exploration properties in Africa; and gold projects located in South America and North America. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.

Recent News:

Barrick Gold Corporation (ABX) will release its Second Quarter 2018 Results on July 25, 2018, followed by a conference call and webcast on July 26 at 8:00 am ET.

Barrick reported first quarter net earnings attributable to equity holders (“net earnings”) of $158 million ($0.14 per share), and adjusted net earnings1 of $170 million ($0.15 per share).

On May 9, 2018, the company has entered into a subscription agreement to acquire 46,551,731 common shares of Midas Gold Corp. (“Midas Gold”) in a non-brokered private placement at a price of C$1.06 per share for gross proceeds of US$38,065,907.

Its Board of Directors has declared a dividend for the quarter of U.S. 3 cents per share, payable on June 15, 2018, to shareholders of record at the close of business on May 31, 2018.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

ABX’s strengths can be seen in its better profitability compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in stoxine trend and signal lines. The RSI(15) stands at 54.01 with positive bias. We rate Barrick Gold Corporation (ABX) a STRONG BUY.

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