The rising uncertainty in the World is sending the Gold for a rush upwards. Russia, China, US, And North Korea is preparing for a nuclear war. and are sending some risky signals back to the markets, as trade deals with asian country and the US is at stake. this will generally send the gold for at higher price. In the mean time we have Brexit coming. over all the world´s situation dosen´t look god.
The Technical..
Barrick Gold Corp is a Canadian Mining company, It primarily explores for gold, copper, and nickel deposits. In December 31, 2016, it had a gold reserves of 85.9 million ounces that a lot..
With the increasing price in gold i se a god case in this Company. If you look at previously years when gold price was high, the price was pretty high. The top is 55.40$ pr share.
The price have made a New structural high and a higher low. The price have tested the resistance line, and looks like it is ready to break it.
The P/E ratio 34.29 its high and risky.. i know. but the industry the company operate in is very volatile, specially the gold price. Companies with high P/E can be risky, but you should also look at the industry the company operating in Gold have an robust future earnings. But it can also quickly go the wrong way...
I will expect the price of metals rising very dramatically specially the gold price. im heavy invested in this company. this year is the golds turn to rise and shine.
in the mean time, you can find me in my dooms day shelter..