Why Barrick Mining Can Rise Despite Risks To Gold Prices

Manika Premsingh Investing Group Follow Summary Barrick Mining (B) is up by over 20% since I last covered it in July, having exhausted the upside indicated then. Even with risk to gold prices now, though, as it turns out, developments for the stock since indicate that even higher prices are possible. A sustained gold revenue outlook and an upgrade in copper price projections work in Barrick's favour, and an expansion in net margin offers further boost. Dips in price from rate-driven sentiment can't be ruled out, but going by B's fundamentals and low forward P/E , the can offer attractive entry points. Looking for a portfolio of ideas like this one? Members of Green Growth Giants get exclusive access to our subscriber-only portfolios. Learn More » Josue Fiallo/iStock via Getty Images Recent macro data and events have increasingly made it clear that an interest rate hike is coming , which isn't good news for gold. The metal has lost ~6% of its value in the past two weeks, and further This article was written by Manika Premsingh 4.68K Followers Follow Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants, takes the theme a step further from LTT with a deeper dive into opportunities presented by the segment. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in B over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.