CA - Barrick Gold Isn't Dead Money As Pessimism Peaks
2024-06-03 11:30:02 ET
Summary
- Barrick Gold stock has outperformed the S&P 500 significantly since my last update in March 2024.
- Barrick Gold's second-half production should improve, lifting its profitability profile.
- GOLD stock remains attractive despite the recent outperformance.
- Surging underlying gold futures should bolster improved buying sentiments in GOLD stock.
- I argue why gold mining investors shouldn't ignore the valuation bifurcation in GOLD now as it attempts another potential breakout. Read on.
Barrick Gold Stock Outperformed
Barrick Gold Corporation ( GOLD ) investors have finally felt vindicated. Since my last bullish GOLD update in March 2024, GOLD stock has significantly outperformed the S&P 500 (SPX) (SPY). I reminded GOLD investors that more robust price realizations are expected to support buying sentiments, underscoring my conviction that GOLD's "pessimism won't last forever."...
Barrick Gold Isn't Dead Money As Pessimism Peaks