Connect with us


Barrick Gold (GOLD) opens decline despite strong earnings




Barrick Gold Corporation (GOLD) opened about 1% less despite releasing better-than-expected financial results in the fourth quarter.

Key points to remember

  • Barrick Gold opened lower in Thursday’s session, despite better-than-expected fourth quarter financial results.
  • Gold prices were subdued in 2021 due to a combination of weak central bank demand, slow jewelry sales, and lack of investor interest.
  • The stock entered oversold territory looking at the Relative Strength Index (RSI), but the medium term trend remains bearish.

The company reported fourth-quarter revenue that rose 13.9% to $ 3.28 billion, beating consensus estimates of $ 50 million, while non-GAAP profits hit 35 cents per share, beating consensus estimates of four cents. Free cash flow was $ 1.09 billion for the quarter, well above the $ 720.8 million forecast by analysts.

Gold prices have been weighed down by weak physical demand and lack of investor interest, according to Bank of America. While the precious metal rose more than 20% last year, spot prices have fallen by around 6% so far in 2021. Inflation is generally a major driver for gold, but Nominal interest rates have remained within a narrow range.


Non-GAAP earnings are an alternative accounting method used to measure a company’s profits. Many companies report non-GAAP profits in addition to their profits based on generally accepted accounting principles (GAAP). These pro forma figures, which exclude “one-off” transactions, can sometimes provide a more accurate measure of a company’s financial performance from direct business transactions.

From a technical standpoint, the title has extended its losing streak since the start of the year. The RSI entered oversold territory with a reading of 26.83, but the moving average convergence divergence (MACD) remains in a downtrend. These indicators suggest that the stock could see some consolidation before going down.

Traders should watch for consolidation below trendline resistance at $ 22.00 over the next few sessions. If the stock breaks out of these levels, traders could see a movement towards reaction highs of around $ 25.00 or the 200 day moving average at $ 25.87. If the stock extends its losses, traders could see a move towards Fibonacci support at $ 19.71.

The bottom line

Barrick Gold opened lower during Thursday’s session, despite posting better-than-expected fourth quarter results. Weak gold prices were the driving force behind the stock’s weak performance in 2021, but with an oversold RSI traders could see near-term consolidation before its downtrend resumes.

The author does not hold any position in the mentioned stocks, except through passively managed index funds.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]