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The Reko Diq project, located in Balochistan, Pakistan, is being operated by GOLD.
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GOLD is strategically enhancing its portfolio to drive sustainable production and profitable growth.
While GOLD's actions to advance key projects and solid financial health augur well, its high costs and downbeat production outlook warrant caution.
Markets are off to a rocky start in 2025, with U.S. stocks entering a quick correction following an all-time high in February. The S&P 500 is lagging behind international equities to a degree not seen in years, and consumer surveys are showing souring sentiment amidst sticky inflation, tariff fears, and geopolitical tension.
Barrick Gold (GOLD) reachead $19.66 at the closing of the latest trading day, reflecting a +1.13% change compared to its last close.
Barrick Gold (GOLD) closed at $19.28 in the latest trading session, marking a -0.57% move from the prior day.
I see positive trends in Barrick's financials, with adjusted free cash flow doubling year over year and the highest adjusted EPS since 2013. The Reko Diq copper-gold project could generate $74 billion in free cash flow during its 36 year lifespan, but near-term uncertainty remains over Pakistan's ability to fund its cost share. Geopolitical risks in Mali have frozen $245M in Barrick's gold exports. The company is managing temporary care at Loulo-Gounkoto, with potential $10M monthly costs if full care is required.
Gold has surged to a new all-time high in 2025, with the VanEck Gold Miners ETF outperforming the commodity, returning 29% YTD. Barrick Gold is up 21% YTD but has underperformed gold and GDX; I reiterate a buy rating but lower my intrinsic value target. Barrick's Q4 results were mixed; EPS beat estimates, but revenue missed; increased share repurchase and dividend announced.
Shares of Barrick Gold Corporation GOLD are slightly higher Monday. They are at resistance and may be about to break through it.