Barrick Gold Corporation (ABX.TO)
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Thread: Barrick Gold Corporation (ABX.TO)

  1. #1
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    Barrick Gold Corporation (ABX.TO)

    Hey guys, I own shares of ABX.TO, and I couldn't seem to figure out why this thing was down today so I averaged down my position.

    Would love to hear people's views about the company and why this thing was down. Solid for a mining company, and though I like GG more, this is by far a better value for those entering the market.


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    Seems like a decent entry point, but I don't buy Barrick directly. It's not far above the trend at the moment.

  3. #3
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    Quote Originally Posted by Axcell View Post
    Hey guys, I own shares of ABX.TO, and I couldn't seem to figure out why this thing was down today so I averaged down my position.

    Would love to hear people's views about the company and why this thing was down. Solid for a mining company, and though I like GG more, this is by far a better value for those entering the market.

    http://ca.finance.yahoo.com/news/Bar...86512.html?x=0

    Personally I would wait for the dust to settle and lower entry point if it ever happens.
    Last edited by Homerhomer; 2011-04-25 at 05:08 PM.

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    book value per share $13.66

    maybe wait?

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    Imagine there's a famine, and the only thing that can grow is corn... And the price of corn is rapidly rising because the demand for corn is high.

    Do you buy corn, or a tractor?

  7. #6
    Senior Member daddybigbucks's Avatar
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    Quote Originally Posted by MikeT View Post
    Imagine there's a famine, and the only thing that can grow is corn... And the price of corn is rapidly rising because the demand for corn is high.

    Do you buy corn, or a tractor?
    I dont get your analogy at all.
    if i wanted to make a quick buck i would buy corn but if i wanted long term growth i would buy the tractor.

    I am also looking at ABX as well. If it treads down to $44, i will buy.

  8. #7
    Senior Member Argonaut's Avatar
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    Add another vote for MikeT's analogy not making sense.

    Hmm, ABX down 10% this year. Just goes to show, don't overthink gold. Just buy the metal. CGL is good to play declining USD at the same time.

  9. #8
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    Quote Originally Posted by MikeT View Post
    Imagine there's a famine, and the only thing that can grow is corn... And the price of corn is rapidly rising because the demand for corn is high.

    Do you buy corn, or a tractor?
    Corn, what the heck are you gonna do with a tractor?.
    Sell rides down Yonge st.

  10. #9
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    Can you sell now and buy again in July which is usually the lowest price according to seasonality? Verify this claim, though.

  11. #10
    Senior Member KaeJS's Avatar
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    Currently down $1.05 at $45.00/share.

    I own 300 at $46.55 so it hurts a little.

    Symbol Name Last Trade Change Related Info

    Copper Jun 11 4.06 12:41PM EDT 0.04 (0.99%) Futures Chain
    Gold 100 oz. Jun 11 1,524.10 11:27AM EDT 18.70 (1.21%)Futures Chain
    Gold Jun 11 1,532.30 1:39PM EDT 10.10 (0.65%) Futures Chain

    Palladium Jun 11 773.30 11:05AM EDT 8.05 (1.04%) Futures Chain
    Platinum Jun 11 1,796.10 3:55AM EDT 27.80 (1.52%) Futures Chain
    Silver 5000 oz. Jun 11 37.12 May 26 0.56 (1.49%) Futures Chain
    Silver Jun 11 36.21 12:51PM EDT 1.48 (3.94%) Futures Chain

    This is the reason, I take it?

    Who else is holding? I thought buying in at $46.55 was a surefire way to hit $50 especially when the economy is doing so poorly and Barrick has consistently done well. Nobody is a gold bug anymore?

    EPS Growth:

    Diluted Normalized EPS 0.98 / 0.87 / 0.82 / 0.80 / 0.73

    0.98/share for 1st quarter 2011 as opposed to 0.73 for first quarter 2010.

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