The Motley Fool Discussion Boards
Stocks B / Barrick Gold Corp.
|Subject: Re: Hi All! Covering ABX for TMF||Date: 5/8/2008 10:02 PM|
|Author: TMFSinchiruna||Number: 244 of 247|
I'll get to your question in a minute, but first some thoughts on Barrick.
Barrick produced some pretty numbers this quarter, to be sure:
The original draft of the article had more info on the insider selling, which I consider to be a huge red flag. Please see my blog post here:
Now, it's possible that those insiders predicted the present correction and sold accordingly, but the fact that almost every one of them reduced their company holdings to zero troubled me greatly. I have tried several sites to check up on insider trading data for the stock to see if those same individuals bought back in, but oddly no site seems to have such data on Barrick.
To be clear, I feel sure Barrick will do well as gold continues its rise. If I were holding Barrick stock, though, I would consider holding for the short term as the gold price recovers out of the present correction, and then switch into a les