Miner Barrick missing gold’s tailwind
“With investors on edge amid the turmoil in markets, gold’s back in the spotlight and there’ll be a barrage of commentary as a rich seam of producers report earnings. Chief among them is Barrick Gold Corp., which just delivered the third-worst return among the 15 major gold miners tracked by Bloomberg Intelligence last year. Analysts will be eager to hear about the company’s strategy to improve margins after Barrick shares failed to catch the tailwind that propelled gold to its biggest annual gain in seven years.”
MK note: We have said it many time but it is worth repeating for those new to precious metals investments: We are not opposed to owning gold stocks, we simply feel it is mistake to think that they are in any way, shape or form a substitute for owning a real safe-haven in the form of gold coins and bullion. Gold stocks are stocks first and an investment in gold second – and an indirect one at that, as the latest Barrick results testify.