Barrick Gold Stock Analysis: Gold Up, Miners Down?! Time To Buy Gold Mining Stocks? NYSE: $GOLD

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In this Barrick Gold (NYSE: GOLD) stock analysis, I go through Barrick’s financials, the potential of gold compared to other commodities, Barrick Gold’s dividend, and wrap everything with a GOLD stock valuation and my thoughts on investing in Barrick and other gold miners.

Nowadays, many commodity producers from oil and gas to copper and gold have cut the dividends following a decrease in prices after having a couple of excellent years, and this is something that we can always expect with a cyclical company. However, gold is back at some of its highest prices in history and has been around that level for many months already. The longer it stays around this level, the better it is for gold miners and even if we don’t see the effects today, this price will inevitably be reflected in the profits. The stocks however are doing almost the opposite, with Barrick for example being at some of the lowest prices since 2018, when gold was at $1,200 per ounce.

This discrepancy can be a great opportunity however, because if gold prices remain around this level, then pretty much every miner out there will make more money than usual. This, as we know very well, results in even two-digit dividends, which would bring more attention to the industry, so I think this is something that we really have to look into as soon as possible.

Now, getting to Barrick, they are one of the largest gold miners on the planet, also producing a bit of copper on the side. Following the merger with Randgold from half a decade ago, Barrick now has several mines everywhere on the planet, many of them being what is known as Tier One Gold Mines, which is – as you can guess – pretty much the best type of mine you can have.

Barrick is able to produce between half a billion and around $3 billion per year, depending on factors like gold prices, CAPEX, and so on. About a year ago, they also provided a cash flow curve which can give us a good idea about what to expect depending on the price of gold.

Something that we see with almost every other miner is that the all-in sustaining cost for gold is rising. This is normal due to the high inflation from the past years, and it’s very likely here to stay around such a level. This also means that Barrick would make less money than they expected when they released these numbers, so we’ll keep that in mind in the valuation later.

Since they had to do some maintenance work during this half, they expect the second half of the year to come with better numbers. This year’s free cash flow was impacted by a lower production due to the maintenance, higher production costs and higher CAPEX, so you can imagine it’s not going to be the best.

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Freeport-McMoRan (FCX) Stock Analysis – https://youtu.be/91ggPBaGFLQ
Nokia (NOK) Stock Analysis – https://youtu.be/LksBa929CI4
Omega Healthcare Investors (OHI) Stock Analysis – https://youtu.be/6bvoCQk3xig
Rio Tinto Stock Analysis (RIO) – https://youtu.be/GBilshVQ4K8
Barrick Gold Stock Analysis (GOLD) – https://youtu.be/4CNjdtiYIKU

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On my channel, you will find a wide variety of stock analyses – from gold miners such as Barrick Gold (NYSE: GOLD) and Newmont Mining (NYSE: NEM) to tech stocks like Nokia (NYSE:NOK), Alphabet (NYSE: GOOG/GOOGL), Intel (NYSE: INTC) and even healthcare REITs like Medical Properties Trust (NYSE: MPW) and Omega Healthcare Investors (NYSE: OHI).

Although I mostly focus on value investing, there will also be plenty of high-yield dividend stocks being analysed on the channel, especially if I believe that there is value in there.

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DISCLAIMER: I am not a financial advisor and nothing on this channel should qualify as investing advice. All information is provided for your education or entertainment. It is not intended to be investment advice. This information is general in nature and has not taken into account your personal financial position or objectives. Seek a duly licensed professional for investment advice.

0:00 Barrick Gold (GOLD) Stock Review
0:56 Barrick Gold (GOLD) Financial Analysis
4:54 Investing in gold
6:24 Barrick Gold (GOLD) Valuation + Conclusions

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