Barrick Gold (ABX.TO) Buy, Sell or Hold

Barrick Gold (ABX.TO)

56.19

-0.89 (1.56%)

as of Jun 19, 2026, 8:00:00 pm Market Open.

449 watching

COMMENT

Feels as though there's a buzz around gold. Momentum's coming back into the sector. Agnico is executing well, but it's expensive. His main holding is in Barrick. If you do get a move, it should go first and you should easily get a pop in it.

WAIT

You want to have a good gold price for it to do well. We saw a decline in 2017. We saw it falter at the beginning of this year. Seasonality will start July/August.

BUY ON WEAKNESS

They are cutting the costs out of an acquisition. They don’t need the duplication. There are synergies to be realized. The market looks interesting but he has not bought in the sector yet. He would look at this quality of company.

PAST TOP PICK

(A Top Pick Jun 04/18, Up 3%) He likes the gold stocks because you should always hold 10-20% in gold. Bullion is dirt cheap. He worries about the quality of balance sheets around the world and sees it as a safe haven.

DON'T BUY

The gold industry gets a lot of attention but just isn't important, not anymore in Canada. These companies have shrunk a lot, and ABX's stock chart has declined like its peers. Yet, the gold biz still gets a lot of attention. He own no gold at all. Gold doesn't pay dividends. Gold is purely speculative.

COMMENT

He's never owned much gold, because the companies have no control over the price of gold and geopolitics shift so quickly and effect gold companies. That said, Barrick is well-run and has made acquisitions recently that will benefit. Gold itself is no longer a hedge against a weakening market.

PARTIAL BUY

Pretty positive. Wants to go higher. Battle between bulls and bears is around $18. Rising lows. Good seasonal time to look at it. He owns FNV. Good risk/reward here, and sometimes that's all you can ask for in investing. If you're a longer-term investor, you can buy this today but not the whole thing until you see it start to accelerate above $18.

DON'T BUY

Their attempted Newmont purchase was arrogant, but it worked out for them. They get the joint venture they wanted. It's synergistic. Management foresees more opportunities. Q4 earnings were up. Guidance shows higher operating costs and taxes--negatives. He needs to see the price of gold move, really break out. He needs to see evidence that ABX has turned the corner after years of not doing a good job for shareholders.

TOP PICK

They got rid of their copper and made a a big acqusition in gold to become a pure gold play. Trades cheaply at 1.5x book. If gold does well, ABX will do well. (Analysts’ price target is $19.35)

COMMENT

When you look at producers you have to look at the fundamentals but also you have to look at the commodity. He is not convinced that gold is going to go up a lot over the little while. He doesn't see a gold rush anytime soon. That would be a challenge for any producer. One of the theories is that gold is a hedge against falling stock markets. But there is no evidence of a negative correlation. It is not proven that if there is a crisis people go to gold.

BUY

He likes the gold generally speaking. They are heading higher because of the fiscal situation of the US, Europe, Japan and increasingly China. So he thinks a 10% to 20% of the portfolio should be on gold or gold stocks as a defense mechanism.

DON'T BUY

ABX-T vs. G-T. G-T is more the defacto go-to name. ABX-T does not have the growth any more. He thinks G-T has better assets. The problem with G-T used to be excessive valuation but that is not the case now.

BUY

Gold outlook? Gold seasonality is kicking in right now. Also note that the U.S. dollar should start to roll over now. Gold stocks are starting to move up. Gold looks gold now. $1,252 resistence. Barrick is a good play. Next resistance is at $20, then $23. If he didn't own Kirkland Lake, he'd buy this.

DON'T BUY

Sentiment that the commodity has to turn around, it has been a very long negative period for the gold stocks. Gold stocks are not a great hedge to stock market correction or recession. The company is not profitable and are paying a dividend. They need higher prices for the dividend to survive. He believes they should not be paying a dividend.

COMMENT

Shareholders voted 99% in favour of takeover.

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