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Dig Up This Golden Trade

Miner Barrick Gold is technically strong and loved by analysts


Barrick Gold Corporation (NYSE:ABX) — This acquirer, explorer and developer of gold properties and copper, silver and zinc is expected to report earnings of $4.41 this year and $5.38 in 2013. At just 6.7 times 2013 earnings and paying a dividend yield of 2.2%, it is a good value. Of the 28 analysts covering ABX, 20 have either a “strong buy” or “buy” on it with a median price objective of $50.

Technically, the stock has broken above its 50-day moving average and intermediate resistance line following a selling climax in late July. Its next resistance is at the June high of $42, but the stock should move on to its objective at $50.

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Trade of the Day Chart Key

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