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.
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.
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.
With the current outlook, does it makes sense to Buy or Hold exposure to this stock?