BARRICK GOLD CORPORA

ABX
Delayed Quote. Delayed  - 05/13 04:17:04 pm
28.7CAD +0.60%

Barrick Gold Corporation : A trend reversal is in sight

05/03/2021 | 10:35am
Jordan Dufee
Senior Analyst

Strategy published on : 05/03/2021 | 10:35

long trade
Live

Entry price : 26.95CAD
Target : 30.13CAD
Stop-loss : 25.5CAD
Potential : 11.8%

Barrick Gold Corporation reflects attractive technical aspects that could allow investors to expect a trend reversal over the medium term.
Investors have an opportunity to buy the stock and target the CAD 30.13.

Summary

● The company has poor fundamentals for a short-term investment strategy.


Strengths

● Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.

● Thanks to a sound financial situation, the firm has significant leeway for investment.

● Over the last seven days, analysts have been revising upwards their EPS estimates for the company.

● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.

● Analysts covering this company mostly recommend stock overweighting or purchase.

● The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.


Weaknesses

● According to Standard & Poor's' forecast, revenue growth prospects are expected to be very low for the next fiscal years.

● Sales estimates for the next fiscal years vary from one analyst to another. This clearly highlights a lack of visibility into the company's future activity.

● The group usually releases earnings worse than estimated.

● The sales outlook for the group was lowered in the last twelve months. This change in forecast points out a decline in activity as well as pessimistic analyses of the company.

● The technical configuration over the long term remains negative on the weekly chart below the resistance level at 30.44 CAD

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