Lets be rational here... Barrick has 20 gold producing mines of which
only 1 has a stated production cost of 1156.00 per ounce and that is for 110,000 ounces... Barrick has 19 other mines producing roughly 7,000,000 ounces ranging in cost from as low as 282 an ounce to 978 an ounce even at current prices they are very profitable 2 billion plus in the bank and a current PE below 7 the sotck is cheap on every metric... hold your nose and buy for the long run..... you will be highly rewarded
it's down cause gold went from 1620 to 1320. it's down due to the PL bs that they should never have gotten into. It's down due to all the shorts piling on and all the news articles saying gold is going to 100 bucks. it's down due to GS, CS, MER, SG downgrading gold. CS downgraded ABX and JPM downgraded ABX. We can't have much more negative news other than all ABX mines don't have anymore gold in them.