ABX:CC - Barrick Gold Stock: Pessimism Won't Last Forever
2024-03-22 13:30:16 ET
Summary
- Gold prices have surged above $2,200, but the stock of gold miners like Barrick Gold Corporation have underperformed.
- Barrick Gold's production output for 2024 is expected to be lower than previously estimated, but the company anticipates improved operating efficiencies from 2025.
- Long-term investors may find Barrick Gold's valuation attractive due to more robust earnings prospects in 2025.
- I explain why improved operating efficiencies and stronger price realizations should lift Barrick Gold Corporation's buying sentiments.
- With Barrick Gold Corporation valued reasonably, I highlight why pessimism about the stock likely won't persist.
To say that I have been disappointed with Barrick Gold Corporation ( GOLD ) stock performance is an understatement. I had anticipated higher price realization in underlying gold prices to lift GOLD's performance in my previous article. However, the market has not bought into my thesis, as GOLD continues to consolidate sideways....
Barrick Gold Stock: Pessimism Won't Last Forever