Barrick (ABX) Positioned for Long-Term Profitability

Barrick Gold is not just among the largest gold miners, but is one of the best producers in the sector as well for shareholders.

The giant gold miner has been able to successfully lower costs after a time when they struggled being a high cost gold producer. They have also risen to the challenge of replacing their reserve base while lowering those costs.

Also of note is Measured, Indicated, and Inferred Resources are growing while Proven and Probable Reserves are being replaced

The company has spun off high cost and high risk project projects while the lower cost mines were being brought online, putting the company in a strong position to produce and compete in the years ahead.

After the selloff it looks like shares of the company were oversold and the stock is probably ready to start to climb upwards again.

Barrick closed Monday at $50.32, gaining $0.92, or 1.86 percent.