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Barrick Gold Corporation Message Board

  • stock_green07 stock_green07 Apr 28, 2013 8:59 AM Flag

    Barrick overview

    "Barrick Gold which Thursday gave back most of its intraday gains still has enormous reserves and very low cost mines in Nevada, well below the all-in cash costs of the industry. Its Australian and African operations are high cost but they are a small fraction of its output. It is focused on cost-cutting, consolidation and developing the Argentina portion of its major undertaking at Pascua Lama pending resolution of the case about environmental impact on three glaciers on the Chilean side. As I wrote (see previous link), bringing two experienced Chilean mining executives on board to dialog with local communities and the government in Santiago augurs a positive outcome for this project. In the meantime its new but producing Pueblo Viejo project in the Dominican is a plus but not a make or break for the company's value: ABX is working with President Danilo Medina but can walk away if necessary and concentrate further on its American and Argentinean sites. Having under-performed its sector for 16 months and with its drastic fall in market cap, ABX now yields 4.2% and has target estimates ranging from $26 - $34/share. With its price now at $19.06 in my view it represents solid value and an excellent trading vehicle a year or two hence. Given the plans and comprehensive strategy detailed by CEO Jamie Sokalsky at his recent report (linked above) on Q1 I believe there is a good chance Barrick will turn things around in the next 1-3 years and become an intriguing growth story. Even with the last terrible five quarters, it has a low .72 quick ratio and its more than twenty producing mines to sustain its debt ratio."

 
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