Barrick: Lower Than Its 2011 Peak And Not Underpriced, But Still A Buy

Dragon Claws Investment thesis: Barrick Gold (NYSE:GOLD) stock is down roughly two-thirds from the record high reached in 2011. This is despite gold (XAUUSD:CUR) prices being significantly above 2011 peak gold price levels. The inevitable question that arises therefore is whether Barrick is doomed to perpetually underperform the gold market, or whether it is set to catch up and correct the discrepancy. To answer this question, we have to consider several factors, ranging from Barrick's valuation to its  ...