Barrick Gold ( (TSE:ABX) ) just unveiled an update.
Barrick Gold Corporation has received shareholder approval for the updated Feasibility Study and Phase 1 development capital for the Reko Diq project in Balochistan, Pakistan, contingent on securing up to $3 billion in project financing. The company has appointed Fluor Corporation as the lead Engineering, Procurement, and Construction Management partner, with the aim of commencing major works in 2025 and achieving first production by the end of 2028. This development marks a significant milestone for Barrick, reflecting strong governmental support and reinforcing its commitment to responsible and efficient project execution, with a focus on community development and maximizing local content.
Spark’s Take on TSE:ABX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ABX is a Outperform.
Barrick Gold demonstrates a strong financial position with solid revenue growth and profitability. Technical indicators reflect positive market momentum. The valuation is fair, and while the earnings call highlighted operational challenges, the overall financial achievements and strategic developments suggest a positive outlook for the stock.
To see Spark’s full report on TSE:ABX stock, click here.
More about Barrick Gold
Barrick Gold Corporation is a leading company in the mining industry, primarily focused on the extraction and production of gold and copper. The company operates globally and is known for its large-scale mining projects, often in challenging environments.
YTD Price Performance: 14.47%
Average Trading Volume: 24,220,863
Technical Sentiment Signal: Sell
Current Market Cap: $30.51B
For a thorough assessment of ABX stock, go to TipRanks’ Stock Analysis page.