Streetbeat News

GOLD

Barrick Gold Corporation

https://www.barrick.com

Industry

Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States. The company also has ownership interests in producing copper mines located in Chile, Saudi Arabia, and Zambia; and various other projects located throughout the Americas and Africa. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.

Open

16.87

Mkt cap

29B

Volume

19M

High

16.91

P/E Ratio

18.10

52-wk high

21.35

Low

16.59

Div yield

0.02

52-wk low

13.76

Barrick Gold (NYSE:GOLD) has seen significant options market activity, with a bearish sentiment prevailing among big-money traders. Analysis of options trades revealed a split sentiment, 40% bullish and 60% bearish, with a focus on a price band between $15.0 and $22.0. The company, a major gold and copper producer, has its stock slightly down by -0.1%, trading at $15.74, and may be approaching overbought territory. The next earnings report is expected in 47 days.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 7:01 pm

Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) experienced a consolidation on Tuesday after a significant rise, moving in tandem with a decrease in spot gold prices. The ETF, which aims to outperform the NYSE Arca Gold Miners Index by 200%, saw a downturn on decreasing volume, suggesting a pause rather than a shift in market control. NUGT's top holdings include Newmont Corp (NEM), Barrick Gold Corp (GOLD), Agnico Eagle Mines Ltd (AEM), Wheaton Precious Metals Corp (WPM), and Franco-Nevada Corp (FNV). The article also mentions Direxion Daily Gold Miners Index Bear 2X Shares (DUST) for bearish traders.

Portfolio Pulse from Melanie Schaffer

March 12, 2024 | 6:16 pm

Gold prices continue to rise, with speculators driving the price up at a rate not seen since 2019. Gold futures dipped slightly by 0.1% on Monday, but overall, gold added 4.3% over the last week. ETFs like SPDR Gold Shares ETF (GLD) and iShares Gold Trust ETF (IAU) saw similar gains. Analysts attribute the rise to a Goldilocks scenario and expect further increases due to geopolitical uncertainty and potential Federal Reserve policy changes. The VanEck Gold Miners ETF (GDX) and stocks like Newmont Goldcorp (NEM) and Barrick Gold Corp (GOLD) are also seeing positive movements.

Portfolio Pulse from Neil Dennis

March 11, 2024 | 3:29 pm

Gold has reached a record high, but gold mining stocks like those in the VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ) have not seen significant movement. Economist Peter Schiff predicts a catch-up rally for these stocks and suggests buying them before the market realizes their potential. Schiff also speculates that investors might be selling mining stocks for Bitcoin ETFs, and anticipates gold to open higher at $2,200 if Bitcoin crashes. Additionally, a list of gold stocks to watch is provided, considering the Federal Reserve's potential rate cuts and gold's role as an inflation hedge.

Portfolio Pulse from Shanthi Rexaline

March 10, 2024 | 5:49 pm

Direxion Daily Gold Miners Index Bull 2X Shares (NYSE:NUGT) has seen a 33% increase since Feb. 28, driven by the rising price of spot gold, which has hit new all-time highs this week. NUGT, a double-leveraged ETF tracking gold and silver mining companies, is poised for further gains as it approaches a golden cross formation. Key holdings include Newmont Corp (NYSE:NEM), Barrick Gold Corp (NYSE:GOLD), and Franco-Nevada Corp (NYSE:FNV). The ETF is recommended for experienced traders due to its leveraged nature.

Portfolio Pulse from Melanie Schaffer

March 08, 2024 | 6:41 pm

The February jobs report showed mixed signals, with a notable increase in nonfarm payrolls but a higher unemployment rate and lower-than-expected wage growth. This has led to increased expectations of Federal Reserve rate cuts, with the market pricing in four cuts by the end of the year. Following the report, stock futures rose slightly, and specific stocks reacted with varying degrees of gains and losses in early trading.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 2:35 pm

Barrick Gold CEO Mark Bristow discussed the factors driving gold to all-time highs, including global risks and geopolitical tensions. He criticized the North American economy for becoming accustomed to 'free money,' leading to increased debt and unsustainable businesses. Bristow also outlined Barrick Gold's strategy focusing on exploration and operational efficiency, with significant investments in greenfield projects and efforts to reduce gold mining costs.

Portfolio Pulse from Stjepan Kalinic

March 07, 2024 | 3:36 pm

RBC Capital analyst Josh Wolfson has reiterated an Outperform rating on Barrick Gold (NYSE:GOLD) and maintained a price target of $18.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 3:44 pm

Deep-pocketed investors have shown a bearish sentiment towards Barrick Gold (NYSE:GOLD), as revealed by Benzinga's tracking of public options records. A significant surge in options activity for GOLD was observed, with a notable division among investors: 25% bullish and 75% bearish. The options activity focused on a price band between $13.0 and $20.0. Barrick Gold, a major gold miner, has seen its stock price slightly increase by 0.61% to $14.75, with its next earnings expected in 61 days.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 7:46 pm

Argus Research analyst David Coleman downgraded Barrick Gold (NYSE:GOLD) from Buy to Hold, indicating a neutral outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 12:31 pm

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