Q: Greetings 5i,
Thoughts on ABX and it's results?
What are your thoughts on the yellow metal for 2025/2026?
Would you ever overweight this sector? When might you do this?
Cheers!
Thoughts on ABX and it's results?
What are your thoughts on the yellow metal for 2025/2026?
Would you ever overweight this sector? When might you do this?
Cheers!
5i Research Answer:
EPS of $0.46 slightly missed estimates of $0.465 and sales of $3.65B missed estimates of $4.18B. Net earnings rose substantially on the year, and free cash flow more than doubled to $1.32B. Its gold production came in at its annual guidance, and the company reduced cost of sales and total cash costs in the quarter. Overall, the market was pleased with these results, and we think this positions the company well in the event of a sustained gold rally.
We continue to feel that gold can perform well, it has broken out of a more than 10-year consolidation period, and it benefits from continued global fiscal spending. We think it can perform well. We like its momentum, and we would be comfortable with exposure to gold miners here.