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Strategies & Market Trends : Underexposed Technical Analysis
AQN 5.880+0.3%Dec 12 9:30 AM EST
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From: Underexposed8/24/2019 8:56:04 PM
2 Recommendations

Recommended By
kimberley
toccodolce

  Read Replies (1) of 914
 
USA: I am going to try to add a gold stock to the American Fantasy Portfolio..... Barrick Gold Corp [NYSE:GOLD]


Barrick is not an American company....it is Canadian. Any USA gold mining company worth looking at are too expensive for us. Barrick should be a lot more expensive but it saddled itself with debt with acquistions of mining properties such as Randgold in 2018.

But its production is high and as the price of gold climbs so will the value of this company will rise with it.

Here are the Financials: Barrick Financials

Income:

Total Revenue: rising to about $2billion/quarter
Net Revenue: rising fast to almost $200billion/quarter

Debt:

Current: Stable now at $300Million but up 10X from 3 quarters ago
Long term: Stable at $5.5Billion/quarter

These are high numbers for debt but the rising Gold price should help.

Charts



Great charts... you can see the concern in 2018 in the P&F chart when the company did all those acquisitions and acquired a lot of debt as a result... but it seems all is forgiven with rising gold prices.

The Trigger chart is solid bullish....



There is not a bearish bone in these charts... the circle in the DI +/- is showing a renewed bullish look there.

Conclusion

I am going to spend a little more fantasy money than normal here and Buy 1500 shares of this company

At the start of the trading day on August 26 I am now entering the following order

Buy 1500 shares of Barrick Gold Corp [NYSE:GOLD] at a limit price of $19.15/share

UE
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