Barrick Gold Corp (ABX.TO), reported a 78% jump in first-quarter profit on Wednesday, beating analyst expectations thanks to rising gold and copper prices, and said it was on track to meet annual forecasts.
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Production in the second half is expected to be higher than the first, the gold miner said, thanks in part to the ramp-up of underground mining at the Bulyanhulu mine in Tanzania and higher expected grades at Lumwana in Zambia.
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The most important numbers in my opinion came from the revenue from copper and the growth rates of this division. This is something Barrick can capitalize easily.
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With the current outlook, does it makes sense to Buy or Hold exposure to this stock?
