On Friday, Barrick Gold reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 90 the day before. Precious metals stocks have been rallying amid the global uncertainty from the Russia-Ukraine war.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the best stocks often have an RS Rating north of 80 as they launch their largest runs.
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Is Barrick Gold Stock A Buy?
Barrick Gold is in a buying range after clearing a 23.69 entry in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 0%, compared to -41% in the prior report. Revenue increased from -20% to 1%.
Barrick Gold stock earns the No. 18 rank among its peers in the Mining-Gold/Silver/Gems industry group. Franco Nevada, Buenaventura Comp and Royal Gold are among the top 5 highly rated stocks within the group. For more industry news, check out "Commodity Market And Commodity Trading: Gold, Silver, Crude Oil, Natural Gas."
