Please ensure Javascript is enabled for purposes of website accessibility

A Big Upgrade for Barrick Gold

By Dave Mock - Updated Apr 5, 2017 at 7:54PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

This bullish call comes from more than just one analyst.

Every day, the sun rises on Wall Street, and a plethora of professional analysts wake to issue new opinions on stocks. Here at the Fool, we use our "This Just In" column to examine some of these picks -- and the track records of the firms behind them -- so individuals can make better investing decisions.

In addition to following these professional banks, anyone can use Motley Fool CAPS to monitor the collective opinions of more than 125,000 members, many of whom demonstrate better investing insight than published analysts do.

More top-performing CAPS members are feeling bullish on Barrick Gold (NYSE:ABX) these days, upgrading it from its four-star rank to a more formidable five stars. A total of 1,707 members have given their opinion on Barrick Gold, with many offering analysis and commentary explaining the recent optimism.

Shares in gold miners like Barrick, Yamana Gold (NYSE:AUY), and Kinross Gold (NYSE:KGC) are fighting back from the dive that they took earlier this year. Though the road to recovery is bound to be bumpy, many investors see the 2008 gold correction as a thing of the past, since gold bullion prices have been on the rise in recent months.  

Barrick and peer Newmont Mining (NYSE:NEM) both laid out plans to run tight operations and delay projects as necessary in the face of economic uncertainty. The swift moves could tighten supply and put upward pressure on the price of gold. And with executives from Barrick and Gold Fields estimating a rising all-in cost of production for gold, many are bullish on its long-term price, including Goldcorp (NYSE:GG) founder Rob McEwen.

While the tight credit markets and overall global economic malaise have slowed the mining mergers-and-acquisitions market -- such as with BHP Billiton's (NYSE:BHP) ended pursuit of Rio Tinto (NYSE:RTP) -- Barrick CFO Jamie Sokalsky recently said that companies and projects are looking exceptionally cheap to acquire. And Barrick is in a better position to go shopping than many others with its $1.7 billion in cash and recent successful bond offering.  

To see all the reasons that CAPS analysts are more bullish now about Barrick Gold -- as well as other winning stocks they are picking -- head on over to CAPS and have a look, and don't forget to add your own opinion.

More Foolishness:

On Jan. 12, 2009, Fool co-founder David Gardner, Jeff Fischer, and their Motley Fool Pro team will accept new subscribers to their real-money portfolio service. Motley Fool Pro is investing $1 million of the Fool's own money in long and short positions in a range of securities, including common stocks, put and call options, and exchange-traded funds (ETFs). They also incorporate proprietary CAPS "community intelligence" data into their research. To learn more about Motley Fool Pro and to receive a private invitation to join, simply enter your email address in the box below.

Fool contributor Dave Mock owns no shares of companies mentioned here. The Fool's disclosure policy takes only a splash of eggnog in its rum.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Barrick Gold Corporation Stock Quote
Barrick Gold Corporation
$16.40 (-0.79%) $0.13
BHP Group Stock Quote
BHP Group
$55.35 (0.77%) $0.42
Goldcorp Inc. Stock Quote
Goldcorp Inc.
Newmont Mining Corporation Stock Quote
Newmont Mining Corporation
$45.30 (-0.96%) $0.44
Kinross Gold Corporation Stock Quote
Kinross Gold Corporation
$3.52 (0.28%) $0.01
Yamana Gold Inc. Stock Quote
Yamana Gold Inc.
$5.04 (0.00%) $0.00

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/11/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.