Barrick: need to reach 14.50Be careful in the PM Complex. Barrick Gold needs to reach the 50 Reagion.
ABX trade ideas
GOLD - A potential setup for a swing tradeRemain vigilant for daily reversal candles occurring near the support area. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
GOLD.NYSE Barrick Gold Prints an IH&S Pattern.Barrick Gold Prints an Inverse Head & Shoulders Pattern which is Bullish.
Switching to a Line Chart shows the Pattern.
As always, get a few outside Expert's Advice before taking Trade or Investment decisions.
Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
lagging Gold Miners @BarrickGold is lagging behind Gold's bull run with much room to play catch-up. During the COVID pandemic, a lot of miners did not have the capacity to stay afloat and they were forced to shut down. This gave miners such as Barrick Gold a fresh market to supply as the demand for gold by central banks and retailers skyrocketed.
Gold has the potential to trade above $ 2,000 as demand pushes it towards $2,500. I am looking at Barrick Gold to see better days in its earnings in the years to come as seen in the growth it has had YTD.
Barrick Gold (GOLD): Major Upward Moves AheadBarrick Gold, NYSE:GOLD , a prominent mining corporation, has recently achieved a noteworthy milestone by reclaiming a critical trendline on the weekly chart and stabilizing between the 78.6% and 88.2% Fibonacci retracement levels. Our initial investment was strategically placed at $14.77, located within the highest volume area observed since 2008 according to the volume profile. This positioning suggests a strong foundation for potential growth.
Should the gold price continue to rise and we surpass this high-volume area, Barrick Gold could experience a parabolic surge. This potential is amplified by the industry’s relatively small scale and the minimal capital required to significantly influence market dynamics. Our analysis indicates a robust support at the Wave 2 and minor Wave (ii) levels, consistent with our entry point (refer to the Daily Chart).
Having successfully reclaimed this trendline, we are now anticipating a substantial upward trajectory with an immediate target of $55.95, correlated with a solid dividend yield of 2.2%. Currently, our position is optimized to maximize returns from these dividends.
As we navigate through Wave II, our projections show a potential breakthrough beyond the $56 threshold, positioning Barrick Gold as a highly desirable investment option. With an optimistic projection of reaching up to $280 from our entry price and a calculated downside risk of only 20%—associated with the tail end of this significant volume cluster (standard normal distribution)—our strategy is well-poised for market success.
At the dawn of trading today, the dynamics around our Level (ii) entry were crystal clear. We retested and successfully held above the subordinate trendline at the 78.6% retracement level. Furthermore, we have not only reclaimed a more significant trendline from the weekly chart at an elevated level but also breached and are currently retesting another key trendline at subordinate Level (i). It is critical for maintaining our bullish outlook on Barrick Gold that we stay above this advanced trendline.
Since our entry, the stock has already appreciated by 20%. However, we are poised for even greater achievements and remain vigilant for further market developments. Expect an updated report from us as soon as additional data becomes available.
Barrick Gold for a short playBought on March 11-13 and currently up. A one month play I am learning to take longer outlook trades s as not to lose my shirt. So are up about $260 Canadian. I think I will exit shortly. Some news happening around the fear causing war. Sometimes fear causes me to jump in deeper when the pack is running. I love a good short though. None the less I think the profitability is there. Listed as a strong buy by many coveted investors. Which is what makes me want to get out. Plus I think its a long play if you want to make more. I want some short term ramp ups.
Barrick Gold Corp's Strategic Vision UnveiledBarrick Gold Corporation (NYSE: TVC:GOLD ) is leveraging strategic partnerships and robust financial foundations to navigate the ever-evolving landscape of the mining industry. Chairman John Thornton's resounding message, articulated in the 2024 Information Circular, underscores Barrick's transformation into a modern mining powerhouse with a steadfast commitment to sustainability and value creation.
Reimagining Sustainability:
Central to Barrick's ethos is its unwavering dedication to sustainability in every facet of its operations. Thornton's testament to Barrick's pioneering partnership philosophy exemplifies the company's profound impact beyond profits. Through initiatives like the revitalization of Tanzanian mines and the reconstitution of the Reko Diq project in Pakistan, Barrick not only drives economic growth but also fosters sustainable development within local communities.
Strategic Ventures in the DRC:
Barrick's collaboration with the government of the Democratic Republic of Congo (DRC) heralds a new chapter in the company's pursuit of gold and copper opportunities. At the helm of this endeavor is Kibali, Africa's largest gold mine, poised to spearhead another year of substantial value creation. Noteworthy is Barrick's commitment to nurturing local businesses and fostering sustainable growth, propelling the DRC's northeast region into an economic powerhouse.
Renewable Energy Initiatives:
Embracing the imperative of renewable energy, Barrick's transition towards sustainability extends to its operations at Kibali. With plans to commission a 16MW solar plant, Kibali is poised to elevate its renewable energy usage, signaling a paradigm shift towards eco-conscious mining practices.
Financial Resilience and Growth:
Barrick's financial resilience, once clouded by heavy debt, now stands as a testament to its strategic foresight. Bolstered by robust operational cash flows and a lean balance sheet, Barrick is primed to fund organic growth projects and capitalize on new opportunities that align with its stringent investment criteria.
Charting a Course for Success:
As Barrick navigates the intricate terrain of the mining industry, its strategic vision underpins a trajectory toward sustainable success. With a steadfast commitment to sustainability, strategic partnerships, and financial prudence, Barrick stands at the vanguard of the mining renaissance, poised to redefine industry norms and chart a course for enduring prosperity.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investors should conduct their own research.
Barrick Gold $GOLD | On The RadarToday on the radar, Barrick Gold
Barrick Gold has attracted some attention as major investors, including recently the notable Stanley Druckenmiller, have taken significant positions. With these influential players entering the fray, while the gold market experiencing remarkable momentum, the question emerges: Is this the right moment to buy? Well, let's dive on it and look at some fundemantals, some metrics and some technicals.
The fundemantals
Gold has exhibited remarkable resilience, maintaining stability despite the backdrop of high interest rates. It has remained relatively stable around the $2000 level for some time now and recently experienced a notable surge in momentum. Meanwhile, the mining sector has faced challenges and has been trading at discounted levels. This disparity may suggest a lag in market perception, particularly regarding the potential for a flight to safety and subsequently, a shift towards safety asset producers.
The world economy is hitting a rough patch, with recessions popping up globally. While the U.S. is trying for a soft landing and celebrating record-high stock markets, there are some conflicting signs from key economic indicators. This divergence might resolve soon, depending on how things pan out in the real economy, possibly prompting a move towards safer assets. Add the fact that central banks globally are bullish on gold, and the BRICS nations are also showing a keen interest, aligning with the broader trend of moving away from the dollar.
So, with gold demand on the upswing, and considering the mining sector's relative underperformance compared to the gold price, there seems to be a noteworthy opportunity for those looking to go long on both gold and the mining industry.
The metrics
Now, let's explore some metrics to determine if this company is fairly valued, discounted, or possibly overpriced. Right from the start, Barrick Gold stands out among mining companies for its exceptionally clean balance sheet. They have great cashflow, manage their debt and liabilities quite well, which could be one of the reasons drawing significant interest from big and famous investors. Notably, the company consistently beats expectations.
Price/Earnings Ratios:
Trailing P/E: 22.04
Forward P/E: 18.05
The forward P/E is lower than the trailing P/E, indicating that the market expects future earnings growth. The P/E ratios suggest a moderate valuation compared to the company's earnings.
Price/Sales and Price/Book Ratios:
Price/Sales: 2.44
Price/Book: 1.19
Both ratios suggest relatively low valuation compared to sales and book value. However, the interpretation should consider industry benchmarks and historical values.
Profitability Margins:
Profit Margin: 11.16%
Operating Margin: 13.08%
The company has healthy profit margins, indicating efficient operations.
Liquidity and Solvency:
Current Ratio: 3.16
Total Debt/Equity: 16.32%
The company has a strong current ratio, suggesting good short-term liquidity. The debt/equity ratio is moderate, indicating a balanced capital structure.
Growth and Financial Performance:
Revenue Growth (yoy): 10.30%
Quarterly Earnings Growth: Not available
Positive revenue growth is a good sign, but it's important to consider the earnings growth trend.
Cash Flow:
Operating Cash Flow: $3.73 billion
Levered Free Cash Flow: $675.75 million
The company generates healthy operating and free cash flows.
In summary, the stock seems to have reasonable valuation metrics, strong profitability margins, positive revenue growth, and healthy liquidity. Compared to some peers, Barrick Gold appears to trade at a slight discount.
Over the past year, there have been noteworthy insider transactions involving both selling and buying activities. However, it is particularly noteworthy that the board of directors has recently engaged in a substantial buying spree. This prompts the question: What insights are they uncovering?
The Technicals
Now, let's delve into some technical analysis—the very reason we're all here and appreciate TradingView. Firstly, we're entering a week filled with significant economic data releases. Additionally, the gold market has experienced a prolonged uptrend. This is certainly a factor to keep in mind in the upcoming days/week, as increased volatility and potential corrections may manifest. Bearing this in consideration, let's explore how we can reflect these dynamics on the chart.
Examining the daily chart over the past 1.5 years and scrutinizing the price structure, a distinct pattern emerges. Following a decline from $25, the price has exhibited a wide-ranging behavior. Notably, it consistently rebounds from the $14 range, suggesting a possible floor or bottom. Taking a more extensive view, this aligns with a monthly/yearly support level. The overarching support, coupled with daily resistance, hints at a potential continuation of ranging price action, possibly leading to a convergence or apex point. In such a scenario, there could be multiple buying opportunities in the coming months, facilitating the accumulation of a robust long position—unless a market shift and strong momentum occur.
Examining the daily chart closely reveals a well-defined descending channel without a distinct apex for reference. Despite the recent breach of prior lows, it's crucial to interpret this cautiously, as breaking one low doesn't automatically signal immediate concerns, especially when the price remains above the monthly low. It could be indicative of a failed breakout. In the event of a market correction this week, these price levels might actually serve as a reliable range for initiating long positions, with a carefully placed tight stop around the $13 range.
A tool I find particularly useful is the fixed volume profile, which proves valuable in identifying specific price ranges characterized by high volume. This method unveils potential breakout zones, support and resistance levels, and even target zones. I typically overlay these profiles onto specific structures, such as from top to top or bottom to top, to gain a more insightful perspective on volume distribution within the structure. A noteworthy observation is the concentration of the highest volume around the $16.50 range. In my approach, a breach of this level, followed by a potential bounce and continuation, could provide valuable insights into the prevailing momentum.
A correlation exists with the recent Point of Control (POC) and some previous lows in this range, making it a potential local bounce zone worth monitoring. Beyond this point, significant price zones to consider include the $17.50 range and the $19 range. The latter could serve as a conservative initial target, and subsequent analysis of the broader circumstances will help determine if the price can break away, potentially sparking a major rally. If we manage to capitalize on a correction and enter at a lower current price, achieving a buy-in below the $15 range, could yield a 25% return on investment (ROI) or potentially even more, depending on market conditions.
Observing the regular volume, there's a noticeable dip that occurred last year, particularly during the summertime. While this dip isn't particularly surprising or highly meaningful, what stands out is the consistent increase in the daily average volume.
Another indicator I find valuable is the Hull, essentially an alternative moving average. It's currently on the verge of crossing and transitioning to green on the daily chart. While this doesn't carry significant weight on its own, it can certainly contribute to the decision-making process. Even if the crossing occurs and the indicator turns green, the price may still experience a pullback. The intriguing aspect will be observing the depth of the correction and whether the price manages to sustain the indicators in the green zone. Ideally, a bounce on the indicator could signal a retention of upside momentum.
It's crucial to note that technical analysis involves a significant degree of subjectivity. The paths indicated on the chart with the blue dotted lines are not predictions; instead, they represent favorable scenarios to monitor. The outcome will hinge on various scenarios and how they unfold. Despite the inherent subjectivity, the fundamentals are sound, the metrics and ratios look promising and momentum seems to be evolving.
And as always, please remember that this analysis is for informational and recreational purposes only. It does not constitute financial advice. Draw your own conclusions based on your assessment.
GOLD.NYSE Has Underperformed in comparison to their Peers.GOLD - Ticker for Barrick Gold, Has Underperformed in comparison to their Peers.
Even the South African Gold Miners are up some 10 - 20% of late.
The reasons for the latest rally are many and interesting, and can still offer further Profit.
Obviously, getting in early gives you more Alpha or % Gain. This is the Risk of Investing!
I'm uncertain of the reason for Barrick's slow performance. If you know, please comment.
However, should they catch up to their Peers, then Profit is to be gained.
As always, please get a few outside Expert's Advice before taking Trade or Investment decisions.
If you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away.
Regards Graham.
Barrick GoldThe last time Gold was trading at $2100, Barrick Gold was at $26! Today it is still below $16. The world is obsessed with tech stocks while the gold stocks are deeply undervalued. This is such a strong buy.
This chart shows the physical Gold price versus Barrick Gold. Both have been rebased to 100 and so that they can be accurately compared. Gold has pushed to new highs while the mining stock has drifted lower and lower.
This gap will close, and we think the safest way to play it is to be long Barrick Gold.
Barrick gold investment maybe?Technical analysis:
So when we have a look at the chart we can see that the price has reached some sort of resistance and we see that it bounced back yesterday to the top side. This could be a good indicator that the price has done dropping en is going to go up from this point.
Fundamental analysis
Okay so when we have a look at the basic and most important fundamental numbers of the company we do can see that the number have been good overall for the last earnings reports.
Numbers:
Net income YoY = 165.17%
Turnover YoY = 10.27%
Watered WPA = 164.29%
There are some more numbers that are looking good but that is something you need to look at for yourself.
$GOLD-SMALL TIMEFRAME PLAY
- After the bullish momentum started to diminish price action showed its hand by not making
new higher highs
- Created and solidified lower highs and lower lows
-With inefficiency to be filled and LLs , Lhs ,showing potential P.O.I with bearish volume rising.
- Good R/W
-Any Questions Feel Free To Message ne on IG: butterflyeffecttrading
GOLD is shining like once beforeLast week, following the earnings release GOLD rebounced off multiple bottom support line and could spark up higher led by 1) strong guidance 2) high gold prices, and 3) divergence with the latter. For Q4 2023, Barrick has demonstrated organic growth in gold reserves for the third year in a row. The Company increased its gold mineral reserves by 5 million ounces before depletion in 2023. Now, its mineral reserves amount to 77 million. The management also released solid production guidance for 2024, suggesting a 6% increase in production, and announced a new $1 billion share repurchase program (yield of ~4% in the next 12 months). Judging by the multiples, the market understates Barrick’s prospects, among other, its high marginality, especially in terms of net profit. Barrick still pays relatively small dividends. The industry average P/E is 25x, while Barrick’s is 16x. Newmont is evaluated at 20x. It is noteworthy that the multiples are at multi-year lows, while the dividend yield (~2.8%) is at a local high. P/B LTM, as well as forward EV/EBITDA, symbolize that the stock prices have been falling for a long time, not reacting to the rising gold prices. The share price has dropped to $14, a level that has been reached four times since 2020 (multiple bottoms), and below which the shares have failed to gain a foothold. In recent months, expectations for the trajectory of gold prices have grown as the share price corrected, however, such a strong divergence should normalize.
"Barrick Gold Corporation Faces Bearish Pressures"Barrick Gold Corporation Faces Bearish Pressures as Support Breaks
Barrick Gold Corporation, a major player in the precious metals industry, is currently facing significant bearish pressures as it breaks support levels and forms a bearish pennant pattern to the downside. This development has raised concerns among investors, with the potential for a further downward spiral looming large.
The recent downtrend in Barrick Gold's stock price has been underscored by the formation of a bearish pennant pattern, signaling a continuation of the prevailing downward trend. This pattern typically occurs after a sharp decline in price, followed by a period of consolidation, and is often seen as a precursor to further losses.
Key support levels, particularly the $14 mark, are now being closely watched by traders. A break below this critical level could trigger a cascade of selling pressure, potentially sending Barrick Gold's stock into a freefall. Investors are advised to exercise caution and consider implementing risk management strategies to protect their portfolios in the event of such a scenario.
While there is a slight possibility of a reversal in fortunes, indicated by a potential bounce out of the current pattern to the upside, the likelihood of this occurrence remains uncertain. Even in the event of a temporary rally, with the stock revisiting the $20 level, it would be prudent for investors to view this as a selling opportunity rather than a signal to buy.
In conclusion, Barrick Gold Corporation is facing significant headwinds as it breaks support levels and forms a bearish pennant pattern to the downside. With the potential for further downside momentum, investors should exercise caution and consider taking appropriate action to mitigate risks. A break below $14 could signal a sharp decline in Barrick Gold's stock price, while any potential upside should be viewed as a selling opportunity.
High positive correlation between gold price and gold stockAs it can be seen in the chart we have a high positive correlation between gold prices and Barrick Gold Corporation as they move together.
Previously as stock prices formed a new high gold price failed to do so and this represents a bearish divergence between prices and caused stock price to move lower sharply while gold price remained roughly around the prices it was.
Now as Gold stock price creates a new low and broke bullish structure to the downside we could expect gold spot price to follow the move and also break the structure to the downside.
