Barrick Mining (NYSE: B) is trading at around $40 per share, down more than 6% so far this year and well below the stock's 52-week high of $54.69. There are solid reasons for the slump. The spot price of gold is down almost 4% from its record highs in January. The likelihood of an interest rate increase has also put pressure on gold prices because the precious metal becomes less attractive as an investment compared to safe, guaranteed yields on low-risk assets such as US Treasuries. Barrick had other issues that weighed on its stock, but although it appears to have addressed those concerns, the gold mining stock remains underpriced relative to competitors. Here are three reasons why investing $5,000 now in Barrick stock could turn into a fortune.
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