Quick Win by the Algorithm: Barrick Gold Corp. (ABX)

Quick Win by the Algorithm

Barrick Gold Corp. (ABX)

Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, including the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.

quick win

Barrick Gold performed very well in 2015, as the stock was up around 3.5%. 2016 was also off to a great start as Barrick Gold is up 70% year to date as well. The company recently reported its Q4 earnings indicating that there may be better times ahead for the stock. In the latest reported quarter, Barrick Gold’s EPS came in at $0.08, beating the analysts’ estimate of $0.06. Revenue of $2.24 billion also beat the sales estimates by $20 million.

Furthermore, Barrick Gold completed its strategy to reduce $3 billion from its debt previous year, which lightened its debt load. Recently, In January, the company sold its 50 percent interest in the Round Mountain project and its whole strut in Bald Mountain mine to Kinross Gold Corporation for around $610 million in cash.

The company also figured various new partners and made a financially comprehensive decision by attaining its leadership through long-term stock strategies. These long-term decisions indicate that the company has a lot of growth opportunities and a bright future. This will also bear out to be beneficial if the gold continues to move upward, as China’s economy lingers to slow down and has pulling effects in the U.S. markets.