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BARRICK GOLD CORPORATION

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GOLD/N trade ideas

Barrick GoldThe last time Gold was trading at $2100, Barrick Gold was at $26! Today it is still below $16. The world is obsessed with tech stocks while the gold stocks are deeply undervalued. This is such a strong buy. This chart shows the physical Gold price versus Barrick Gold. Both have been rebased to 100 and so that they can be accurately compared. Gold has pushed to new highs while the mining stock has drifted lower and lower. This gap will close, and we think the safest way to play it is to be long Barrick Gold.
NYSE:GOLDLong
by Herenya
Barrick gold investment maybe?Technical analysis: So when we have a look at the chart we can see that the price has reached some sort of resistance and we see that it bounced back yesterday to the top side. This could be a good indicator that the price has done dropping en is going to go up from this point. Fundamental analysis Okay so when we have a look at the basic and most important fundamental numbers of the company we do can see that the number have been good overall for the last earnings reports. Numbers: Net income YoY = 165.17% Turnover YoY = 10.27% Watered WPA = 164.29% There are some more numbers that are looking good but that is something you need to look at for yourself.
NYSE:GOLDLong
by MaBaCapital2
GOLD is shining like once beforeLast week, following the earnings release GOLD rebounced off multiple bottom support line and could spark up higher led by 1) strong guidance 2) high gold prices, and 3) divergence with the latter. For Q4 2023, Barrick has demonstrated organic growth in gold reserves for the third year in a row. The Company increased its gold mineral reserves by 5 million ounces before depletion in 2023. Now, its mineral reserves amount to 77 million. The management also released solid production guidance for 2024, suggesting a 6% increase in production, and announced a new $1 billion share repurchase program (yield of ~4% in the next 12 months). Judging by the multiples, the market understates Barrick’s prospects, among other, its high marginality, especially in terms of net profit. Barrick still pays relatively small dividends. The industry average P/E is 25x, while Barrick’s is 16x. Newmont is evaluated at 20x. It is noteworthy that the multiples are at multi-year lows, while the dividend yield (~2.8%) is at a local high. P/B LTM, as well as forward EV/EBITDA, symbolize that the stock prices have been falling for a long time, not reacting to the rising gold prices. The share price has dropped to $14, a level that has been reached four times since 2020 (multiple bottoms), and below which the shares have failed to gain a foothold. In recent months, expectations for the trajectory of gold prices have grown as the share price corrected, however, such a strong divergence should normalize.
NYSE:GOLDLong
by barneysimps_on
"Barrick Gold Corporation Faces Bearish Pressures"Barrick Gold Corporation Faces Bearish Pressures as Support Breaks Barrick Gold Corporation, a major player in the precious metals industry, is currently facing significant bearish pressures as it breaks support levels and forms a bearish pennant pattern to the downside. This development has raised concerns among investors, with the potential for a further downward spiral looming large. The recent downtrend in Barrick Gold's stock price has been underscored by the formation of a bearish pennant pattern, signaling a continuation of the prevailing downward trend. This pattern typically occurs after a sharp decline in price, followed by a period of consolidation, and is often seen as a precursor to further losses. Key support levels, particularly the $14 mark, are now being closely watched by traders. A break below this critical level could trigger a cascade of selling pressure, potentially sending Barrick Gold's stock into a freefall. Investors are advised to exercise caution and consider implementing risk management strategies to protect their portfolios in the event of such a scenario. While there is a slight possibility of a reversal in fortunes, indicated by a potential bounce out of the current pattern to the upside, the likelihood of this occurrence remains uncertain. Even in the event of a temporary rally, with the stock revisiting the $20 level, it would be prudent for investors to view this as a selling opportunity rather than a signal to buy. In conclusion, Barrick Gold Corporation is facing significant headwinds as it breaks support levels and forms a bearish pennant pattern to the downside. With the potential for further downside momentum, investors should exercise caution and consider taking appropriate action to mitigate risks. A break below $14 could signal a sharp decline in Barrick Gold's stock price, while any potential upside should be viewed as a selling opportunity.
NYSE:GOLDShort
by UnknownUnicorn2319099
High positive correlation between gold price and gold stockAs it can be seen in the chart we have a high positive correlation between gold prices and Barrick Gold Corporation as they move together. Previously as stock prices formed a new high gold price failed to do so and this represents a bearish divergence between prices and caused stock price to move lower sharply while gold price remained roughly around the prices it was. Now as Gold stock price creates a new low and broke bullish structure to the downside we could expect gold spot price to follow the move and also break the structure to the downside.
NYSE:GOLDShort
by mohemati
lagging Gold Miners @BarrickGold is lagging behind Gold's bull run with much room to play catch-up. During the COVID pandemic, a lot of miners did not have the capacity to stay afloat and they were forced to shut down. This gave miners such as Barrick Gold a fresh market to supply as the demand for gold by central banks and retailers skyrocketed. Gold has the potential to trade above $ 2,000 as demand pushes it towards $2,500. I am looking at Barrick Gold to see better days in its earnings in the years to come as seen in the growth it has had YTD.
NYSE:GOLDLong
by Candles254
2
Barrick Gold (GOLD) Gains But Lags MarketBarrick Gold (GOLD) closed the most recent trading day at $15.81, moving +0.44% from the previous trading session. This move lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%. The gold and copper mining company's shares have seen a decrease of 5.41% over the last month, not keeping up with the Basic Materials sector's loss of 4.64% and the S&P 500's loss of 3%. The upcoming earnings release of Barrick Gold will be of great interest to investors. In that report, analysts expect Barrick Gold to post earnings of $0.23 per share. This would mark year-over-year growth of 76.92%. Meanwhile, the latest consensus estimate predicts the revenue to be $3 billion, indicating a 18.67% increase compared to the same quarter of the previous year. In terms of the entire fiscal year, Dexwirenews predict earnings of $0.87 per share and a revenue of $11.88 billion, indicating changes of +16% and +7.85%, respectively, from the former year. Investors might also notice recent changes to analyst estimates for Barrick Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 18.03. This indicates a discount in contrast to its industry's Forward P/E of 19.47. It's also important to note that GOLD currently trades at a PEG ratio of 1.46. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 1.9 at yesterday's closing price. The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 190, placing it within the bottom 25% of over 250 industries.
NYSE:GOLDLong
by DEXWireNews
GOLD MINE-Expansion GEM, ABX: The WAVE-EXPANSION Will be Epical!Hello There! Welcome to my new analysis about a Major Gold-Mine Gem I recently spotted forming worthwhile underlying dynamics that have the potential to transform the whole chart price-action into a massive expansion-dynamic to elevate the volatility to levels not far from the moon. Gold has been around for several thousands of years and with gold also the exploration that already created many historical expansion-waves in which gold mines and exploration facilities could expand over 1,000-4,000% in the shortest period of time. Especially, when new explorations proceeded in territories where gold has never been explored before making the source of a continued worthwhile exploration even greater. The Glorious Past of Gold-Mine Stocks and What Can be Derived From it For Today: Today, a time has emerged in which a gold-backed currency system could emerge again similar to the gold-backed systems and trademarks in the 20st century. Such a implementation of a gold-backed currency system is going to accelerate the exploration of gold massively and especially in such times where more and more gold is being explored this will be a transformational expansion act for companies like ABX, Barrick Gold Corporation as the gold-backed system needs to find the sources of gold to back the legal tender capital. This will be available in the mining facilities and when a large demand meets a not fully maxed out supply this will be a huge driver of price-expansions towards the upside. The Implementation of a Gold-Backed Currency System and the Effects on Gold-Mine Stocks: If a major gold-backed currency system is going to be implemented as there are many plans to this currently this will raise the demand in gold exploration literally over night and only out of this perspective it is going to setup the structure for a massive volatility expansion-wave for gold mining exploration stocks as only a small demand-increase even in a moderately sized economy-field it is going to raise the market-cap of exploration stocks to levels not seen since the gold bull-market with the peaks in 2011. Many conversion of the fiat currency into the gold-backed currency are going to drive the price of a the stock massively. The Massive Price-Expansion-Potentials to Accelerate With a Gold-Backed System Implementation, Technical Chart Price-Action: Considering the chart price-action now Gold moved on to form several important dynamic in this whole structure. Firstly it created a gigantic descending channel-formation with a momentous inverse head-and-shoulder-formation forming coherently within the channel. This is from where the gold exploration gem had the origins bouncing both within the lower boundary of the channel and the lower boundary of the inverse head from where the price-action already bounced to solid levels and is now boiling up for a much larger move and breakout dynamic to accelerate the price-action into expanding spheres. What is so important here in this whole chart is the fact that the price-action is already greatly bouncing above the 20 level where several important indications have their origins. The most important indiciation of this level is the fact that within this level the major Golden-Ratio Trend-Acceleration-Bounce-Zone is allocation. This zone is the zone between the 50% and 61.8% Fibonacci-Level as it is marked in my chart. Especially, when the new gold-backed currency system is going to be accelerated in the implementation within the next times the breakout of the inverse H-S-Formation as it is marked in my chart will be almost inevitable. Prospects and Previsions of a Gold-Backed Currency-System Implementation With the Preceeding Price-Action and Transformational Price Level: The next times will be highly important to watch out here especially when the gold-backed system should accelerate the mining facility production the completion of the first breakout as marked will move on even faster than expected, determining this, what follows once the breakout has emerged are the next accelerations of the price-action into the further spheres till the second breakout and trend-acceleration is going to shoot the price-action to major levels with the targets at at least 302.5-310 as it is marked. Also the meetings of the economies that are looking to implement the gold-backed system are extremely important to watch out especially when the gold-backed currency is being finally implemented and the demand meets the mining facilities this is likely to transform the price-action into the major expansion-phase. The meetings of those economies will be held throughout the year especially in October to November there are likely to be major news into this direction. Remember, that even the implementation of the gold-backed system in a moderate economic field is going to accelerate the price-dynamics heavily as the demand will be around 140 times more than the present unexplored supply. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
TSX:ABX
by VincePrince
15
GOLD: a trading idea for 26/09/2023 Analysts at the Ameriprise Financial Inc. investment firm note that there is no correlation between the dynamics of gold prices and the interest rates set by the world's leading central banks. These indicators are currently at their highest levels since the 2008 crisis. However, gold prices are still near their all-time highs, which suggests that large institutional investors may be anticipating rising inflation and a recession in the US economy. In addition, various central banks are actively buying gold to increase their reserves. Considering these developments, it is interesting to look at the performance of gold mining companies. Today, our focus is on the Barrick Gold Corporation chart (NYSE: GOLD), which operates precious metal mines in 13 countries worldwide. On the D1 timeframe, resistance has formed at 16.81, with support at 15.91 which was broken through on Monday 25 September 2023, and a new support level has not yet been established. There is also a clear downward trend on the H1 timeframe. The price can increase to 16.55 in the short term and to 19.45 in the medium term. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.87% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:GOLD
by RoboMarkets
1
Evening starIs the downtrend of gold miners stock resuming after the "bull run" from Aug 19 to 30? My primary analysis is based on Elliott wave. But it does not hurt to use candlesticks as an auxiliary one to reinforce it. A textbook example of the evening star appears in gold barrick. A gap up from Aug 29 to 30, with a large green candlestick on Aug 29, and a gap down from Aug 30 to Sep 1, with a large red candlestick on Sep 1, may be a harbinger for a bearish reversal. A shooting star candlestick also appears on HUI index on Aug 30. Both can be used as a proxy for reversals for gold and gold miners' equities. The nonfarm payroll for Aug will be out today. Let's see what happens next.
NYSE:GOLDShort
by brown_maverick
GOLD Barrick Gold Corporation Options Ahead of EarningsIf you haven`t bought GOLD prior to the Double Top: Then analyzing the options chain and the chart patterns of GOLD Barrick Gold Corporation prior to the earnings report this week, I would consider purchasing the 16usd strike price Calls with an expiration date of 2023-9-15, for a premium of approximately $0.96. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:GOLDLong
by TopgOptions