Topic: How To Invest

Power Growth Investor Hotline – Friday, January 13, 2023

Article Excerpt

BARRICK GOLD CORP., $26.30, is a buy. The company (symbol ABX on Toronto) is the second-largest gold miner in the world after Newmont (symbol NEM on New York, and a recommendation of our Wall Street Stock Forecaster newsletter). Barrick now plans to focus on building new mines instead of on acquisitions. This includes aiming to bring into production the company’s promising exploration projects in Egypt, Nevada, Guyana and elsewhere. For instance, Barrick has just signed joint-venture agreements with Saudi Arabian mining company Ma’aden for two prospective exploration projects in Saudi Arabia. The deal is aimed at expanding Barrick’s copper base in the country by deepening its existing partnership with Ma’aden and opening up potential co-operation with the neighbouring Jabal Sayid copper mine; that site is a 50-50 joint venture between the two companies. Copper production at Jabal Sayid increased from 110 million pounds in 2018 to 152 million pounds per year in 2021 as a result of improved mining performance and process plant optimization. The…