| Barrick Gold Stands among the Best Gold Miners in January | |
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Global Selloff Backs Gold's Victory (Continued from Prior Part) Best performers
The current surge in precious metals prices has helped precious metals mining-based companies to regain their lost glory. Miners have a been the victims of retreating precious metals prices over the course of the past three years, but it looks like 2016 is showing some hope.
South African miners have benefited due to the weakening South African rand and the comparatively strong US dollar. Apart from this, Barrick Gold (ABX) has been the top performer among the components of the Market Vectors Gold Miners ETF (GDX). Barrick, Agnico Eagle Mines (AEM), and Randgold Resources (GOLD) have risen 27.3%, 7.6%, and 11.4%, respectively, on a 30-day-trailing basis.
These three have been some of the best performers during the past month and together make up 16.6% of the price changes in GDX. Above is a chart that shows the comparative price performance of ABX along with gold, indicated by the SPDR Gold Shares ETF (GLD) and compared to GDX.
Debt reduction
Toronto-based Barrick Gold is currently among the top-performing assets in Canada and has regained its title as one of the best-performing precious metals mining companies. The company opted for many joint ventures and asset sales in 2015, further helping it to cut down on its debt.
ABX paid off almost $3 billion of $13.1 billion in debt in 2015 alone. The company will likely concentrate on its core mining business in the current year. Thus. there’s much optimism surrounding the stock.
Barrick Gold is currently trading at $9.66 per share. It’s currently at a 30% premium from its 100-day moving average price of $7.43. The analyst-predicted target price for ABX is $9.55. Thus, there is a small amount of overvaluation at its current price.
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Randgold Resources Ltd.
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PRODUCER |
CODE : GOLD |
ISIN : US7523443098 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Randgold Res. is a gold producing company based in United kingdom. Randgold Res. holds various exploration projects in Tanzania. Its main assets in production are MORILA, LOULO and TONGON in Mali and OBUASI in Ghana, its main assets in development are KIBALI (KILO-MOTO) in Congo Dem. Rep. of, MASSAWA in Senegal and GOUNKOTO in Ghana and its main exploration property is MIYABI in Tanzania. Randgold Res. is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 1.6 billions as of today (€ 1.5 billions). Its stock quote reached its lowest recent point on November 07, 2003 at US$ 10.03, and its highest recent level on January 04, 2013 at US$ 99.88. Randgold Res. has 93 804 000 shares outstanding. |