Want to play defense: ABX – Barrick Gold Corporation, largest gold miner in the world, may be a bunker for our money September 18, 2008Posted by deminvest in ABX, Barrick Gold, Defensive Stock, investment, Single stocks, stocks.
Tags: bad times, gold, miner
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.
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