When it comes to selecting a stock to buy and hold forever in your Tax-Free Savings Account (TFSA), Barrick Gold (TSX:ABX) stands out as a golden opportunity. So today, we’re not going to beat around the bush. Instead, let’s delve into why this Canadian mining giant deserves a permanent spot in your TFSA.
The stock
Founded in 1983 and headquartered in Toronto, Barrick Gold has grown into one of the world’s leading gold and copper producers. Now boasting 16 operating sites across 13 countries, it holds a diverse portfolio and a commitment to sustainable mining practices. This has allowed Barrick to solidify its position in the global mining industry.
In the fourth quarter of 2024, Barrick reported net earnings of $996 million, or $0.57 per share, a significant increase from $479 million, or $0.27 per share, in the same period the previous year. Adjusted earnings per share came in at $0.46, surpassing…
