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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

Precious metals stocks are trading lower due to a rise in the US dollar, which was influenced by a higher-than-expected increase in January inflation.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 4:57 pm

Barrick Gold (NYSE:GOLD) is scheduled to release its quarterly earnings report on February 14, 2024, with analysts expecting an EPS of $0.21. The company's past earnings performance shows a history of beating EPS estimates, which has occasionally led to positive stock price movements the following day. However, over the last 52 weeks, Barrick Gold's shares have declined by 15.08%, indicating potential investor dissatisfaction. Investors will be particularly attentive to the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 2:01 pm

Barrick Gold (NYSE:GOLD) announced an increase in proven and probable gold reserves to 77 million ounces by the end of 2023, up from 76 million the previous year. The company, holding a 61.5% stake in Nevada Gold Mines (NGM) through a joint venture with Newmont (NYSE:NEM), highlighted significant contributions from its North American operations, particularly in Northern Nevada, which is described as 'far from being a mature gold district.' Key sites like Carlin, Cortez, and the Turquoise Ridge complex are expected to support production growth for over a decade. Additionally, NGM has initiated a transition to renewable energy with the commissioning of a solar project.

Portfolio Pulse from Stjepan Kalinic

February 12, 2024 | 7:53 pm

The U.S. is increasing its involvement in African mining and infrastructure to compete with China's dominance in strategic mineral supply chains, focusing on the Copperbelt region for cobalt and copper crucial for decarbonization. The U.S. supports the Lobito corridor rail project, which will reduce transportation costs for mining companies like Ivanhoe Mines Ltd, potentially joined by Anglo American, Barrick Gold Corp, and First Quantum Minerals Ltd. This move is part of a broader strategy to secure supplies of essential minerals for renewable energy.

Portfolio Pulse from Matt Whittaker

February 12, 2024 | 5:09 pm

Barrick Gold Corporation announced an increase in its attributable proven and probable gold mineral reserves by 5.0 million ounces before accounting for 2023 depletion, emphasizing the maintenance of the quality of its mineral reserve base.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:14 pm

Shares of precious metals companies are trading lower due to a decrease in the price of gold, affecting companies like AEM, EGO, FNV, GOLD, HL, HMY, KGC, and NEM.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 6:00 pm

Gold has remained above $2,000 per ounce since November, nearing its record high. Despite this, gold miners have underperformed, with the VanEck Gold Miners ETF (GDX) losing 8% last year. However, recent World Gold Council data shows a surge in gold demand, particularly from central banks, which has led to a positive performance in gold stocks like Newmont Goldcorp (NEM), Kinross Gold (KGC), Barrick Gold (GOLD), and Harmony Gold Mining (HMY). The underperformance of gold miners compared to gold prices is attributed to rising mining costs and dilution from acquisitions, mergers, and capital raises. Yet, there's optimism that gold miners are now better managing costs, reducing debt, and improving cash flows, making them historically undervalued and poised for a potential reversal in trend.

Portfolio Pulse from Neil Dennis

February 01, 2024 | 8:36 pm

Financial giants have shown a bearish stance on Barrick Gold (NYSE:GOLD) through recent options trading, with 64% of trades being puts. The trading activity suggests a price target range of $14.0 to $17.0 for GOLD. The company, a major gold and copper miner, has seen its stock price increase by 1.15% to $15.78, with analysts from BMO Capital maintaining an Outperform rating and a price target of $27. The next earnings report is expected in 13 days.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 5:46 pm

Nasdaq futures rebounded as traders anticipate strong earnings from tech giants Meta, Amazon, and Apple. The market reacted negatively to disappointing earnings from Alphabet, Microsoft, and AMD, and a hawkish Fed stance. The S&P 500 and Nasdaq Composite hit two-week lows. Analysts highlight the 'January Barometer' predicting a positive market trend for the year. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket gains. Several companies, including Qorvo and Lucid Group, showed significant premarket movements.

Portfolio Pulse from Shanthi Rexaline

February 01, 2024 | 12:27 pm

The past week's earnings reports from companies like Tesla, Intel, and Texas Instruments were disappointing, affecting market sentiment. However, Netflix's strong performance provided some optimism. With 25% of S&P 500 companies having reported, 69% beat EPS estimates and 68% beat revenue estimates. The upcoming week is tech-heavy with earnings from Microsoft and Apple being highly anticipated, especially Microsoft's AI initiatives. FactSet expects six 'Mag 7' companies, excluding Tesla, to report a 53.7% year-over-year earnings growth for Q4. Energy sector earnings are also to be watched due to low crude oil prices. The SPDR S&P 500 ETF Trust (SPY) saw a slight premarket increase.

Portfolio Pulse from Shanthi Rexaline

January 29, 2024 | 10:51 am

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