View Full Version : Is Barrick a buy at 14? Ticker:ABX
Been watching Barrick for a while. Gold is up today. Has Barrick bottomed? I am waiting out to see what happens but I wonder if 14 is the right time to get in. I'm not sure that we've seen the bottom for gold yet so I'm holding out. Anyone got a position in this stock currently?
This stock is going in the wrong direction, unless you are into shorting.
Pretty sure the capex requirements for miners are so high that at these gold prices there's not one miner generating free cash flow.
So it's been about 10 days since I made this thread. I decided not to buy Barrick as I thought maybe gold had further to fall. Barrick is now looking to open at 17.34 this morning so I wish I got in lol- but still, can't regret playing it safe. Barrick has been helped by the fact that gold has rallied over the last week or so. I still think eventually Barrick will get back to $30 or so, maybe it will take till next year but I think that's coming.
My game plan is still the same, I'll wait to see if gold has another pull back and if Barrick falls again with it, i'll wait till I think gold has bottomed out and then buy Barrick with a long term hold in mind and try to sell it next year some time.
Just an update to this, Barrick is now at $19.81. Look slike $14 was a great place to get in, too bad I didn't. I was thinking maybe it had farther to fall at the time. If Barrick has any big dips this month into the low $16 or high $15 area I will probably get in, but I don't know that that will happen, I might have totally missed the bus on the this one.
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