jump to navigation

Want to play defense: ABX – Barrick Gold Corporation, largest gold miner in the world, may be a bunker for our money September 18, 2008

Posted by deminvest in ABX, Barrick Gold, Defensive Stock, investment, Single stocks, stocks.
Tags: , ,
trackback

A Gold miner can be safe heaven in times of troubles. Barrick was up 10% on September 18, when the entire stock market was collapsing.

Gold can be a safe heaven for investors

Gold can be a safe heaven for investors

Since I fear more of those days, ABX may be the answer.

Even numbers for it are good: P/E = 15, some growth when Gold prices are high ( Qtrly Revenue Growth yoy:19.80%, Qtrly Earnings Growth (yoy):22.50%).

Barrick has little debts and gives out some dividends: 1.4% yield is not much, but could help make a choice.

Barric has reserves of 124.6 million ounces of gold, worth about $100 Billion

6.2 billion pounds of copper worth about $18 Billion

Comments»

1. deminvest - September 19, 2008

I just bought 40 ABX shares on Xetra Market spending EUR 23.34 each, for a total amount of EUR 933.6

2. Stocks - October 13, 2008

I think Gold and Gold stocks are a fantastic investment right now (at the right price). This sounds like a very good idea!

3. Just sold Gold in the form of 30 Barrick (ABX) « Democratic Investments by the people for the people - May 4, 2010

[…] It was a good idea to buy shares of this gold miner. In September 2009, I wanted to play defensive seeing the beginning of the recession. […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: