Best Oil Service Companies To Invest In 2015: Barrick Gold Corporation (ABX)
Barrick Gold Corporation engages in the production and sale of gold, as well as related activities, such as exploration and mine development. The company has a portfolio of 25 operating mines and a pipeline of projects located in North America, South America, the Australia Pacific region, and Africa. It also produces copper and holds interests in oil and gas properties located in Canada. The company was founded in 1983 and is based in Toronto, Canada.Advisors' Opinion:
- [By Ben Levisohn]
The strategy, as described by McCanless, sounds a lot like that being pursued by gold miners. Remember, just a few months ago companies like Barrick Gold (ABX) were pledging to stop focusing solely on production and instead look at all-in costs and cash flow.
- [By Dan Caplinger]
The biggest challenge for NovaGold has been convincing its development partners to take action on its primary mining properties. The Donlin Gold project in Alaska is one of the largest known undeveloped gold deposits in the world, according to the company, but joint-venture partner Barrick Gold (NYSE: ABX ) said last year that the economics of the mine didn't justify further action on its part, and as the deep pocket in the venture, Barrick is in a far better position to invest capital on Donlin than NovaGold. Similarly, high production costs at NovaGold's Galore Creek joint venture with Teck Resources (NYSE: TCK ) has led NovaGold to consider a sale of its 50% interest in the venture in order to raise capital and focus on Donlin.
- [By Steve Symington]
To be sure, take a look at how prominent miners such as Barrick Gold (NYSE: ABX ) and Yamana Gold (NYSE: AUY ) have performed relative to the S&P 500 since then:
source from Top Penny Stocks For 2015:http://www! .topstocksforum.com/best-oil-service-companies-to-invest-in-2015.html