ABX:CC - Barrick Gold: Being Number 3 In A First Place World (Technical Analysis)

2024-07-11 08:30:00 ET

Summary

• Barrick Gold is a geographically diverse producer, investing in their own projects and seeking distressed assets for growth.
• The company plans to grow production by 40% over the next 7 years, with a focus on copper as a driver of future growth.
• Barrick Gold is undervalued compared to peers on a fundamental basis, with potential for increased valuations based on sentiment and technical analysis.

Contributed by Mark Malinowski, produced with Avi Gilburt.

Introduction

Many times, the media and pop culture lead us to believe that if you are not first, you might as well be in last place. Some people apply this idea to their investments by only selecting the best of the best of the best. While this isn’t a bad approach per se, how do they know they are the “best?” In the mining industry, producers with only a single mine can have geopolitical events overtake and tank their stock literally overnight. So putting all your eggs in one basket is definitely not the theory we subscribe to....

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