Is Barrick Gold Enticing at Current Prices?
T = Trends for a Stock’s Movement
Barrick Gold is engaged in the production and sale of gold as well as exploration and mine development. The company also produces copper and holds other interests, which include a nickel development project. Barrick Gold’s business is organized into seven primary operating segments: four regional gold businesses, a global copper business unit, an oil and gas business, and a capital projects group. Its gold, copper, nickel, and oil and gas businesses and interests are dispersed around the world.
Barrick Gold’s 85-year-old co-founder and co-Chairman, Peter Munk, has given no indiction that he’ll retire anytime soon, despite pressure from large investors and shareholders to give a date when he’ll leave the company. According to a Wall Street Journal report, investors have told the Toronto-based company — which is the world’s largest miner of gold — that they want new independent directors to be brought in. Munk has shown no desire to step down and hand the leadership position over to co-Chairman John Thorton.
T = Technicals on the Stock Chart Are Mixed
Barrick Gold stock has not done well in the past couple of years. The stock is currently trading sideways as it attempts to search and find value. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, Barrick Gold is trading between its key averages, which signals neutral price action in the near term.