During the past month, shares of Barrick Gold (NYSE:ABX) rose by over 11%, and the company’s stock is up by 15% for the year. This rally is mostly attributed to the recovery of gold prices in recent months. The company is still expected to present lower earnings in the first quarter and the ongoing uncertainty around its Pascua-Lama mine could impede the progress of this stock. Nonetheless, the company’s stock has outperformed other leading gold producers including Goldcorp (NYSE:GG) and Yamana Gold (NYSE:AUY) this year, up to date. let’s review the latest news about Barrick Gold and what’s up ahead for this gold producer.
Pascua-Lama mine
The recent news about the company’s Pascua-Lama mine is that Chilean Environmental Courts rejected the allegations that the development of this project caused an adverse impact on the glaciers in the area. The development of this project was put off since the end of 2013, and the start date to restart construction isn’t clear.
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For more see: Does Barrick Have a Silver Lining?