Ultime notizie per Barrick Gold (NYSE:GOLD) Azioni

Barrick Gold

NASDAQ

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.

Barrick Gold Corporation Common Stock (BC)

Barrick Gold Corp

GOLD CANYON BANK (AZ) by Gold Canyon Bank (Gold Canyon AZ)

GOLD FIELDS ADR REP 1 ORD

GOLD FLORA WQY WARRANTS

GOLD MOUNTAIN LTD by GOLD MOUNTAIN LTD.

GOLD RESOURCE ORD

GOLDAS KUYUMCULUK S/ADR by Goldas Kuyumculuk Sanayi Ithalat Ihracat A.S.

GOLDCORP ORD

GOLDEN AGE RESOURCES INC by Golden Age Resources, Inc.

GOLDEN ARROW MERGER CORP UNIT 1 CL A & 1/3 WT EXP

GOLDEN EAGLE RET UNSP/ADR by Golden Eagle Retail Group Ltd.

GOLDEN EAGLE RETAIL GRP by Golden Eagle Retail Group Ltd.

GOLDEN ENERGY & RES LTD by GOLDEN ENERGY & RES LTD.

GOLDEN MINERALS ORD

GOLDEN OCEAN GROUP ORD

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GOLDEN RAPTURE MNG CORP by GOLDEN RAPTURE MNG CORP.

GOLDKEY CORPORATION by GoldKey Corporation

GOLDMAN SACHS ETF ICAV ETF

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GOLDOZ LTD by GOLDOZ LTD.

GOLD BASIN RESOURCES CORP by Gold Basin Resources Corporation

Gold Basin Resources Corp

Gold Bull Resources Corp

GOLD BULL RESOURCES CORP by Gold Bull Resources Corp.

GOLD DIGGER RES INC by Gold Digger Resources Inc.

Gold Digger Resources Inc

GOLD ENTMT GROUP INC by Gold Entertainment Group, Inc.

Gold Entertainment Group Inc

Gold Fields Limited American Depositary Shares

Gold Fields Ltd

Gold Flora Corp

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GOLD HUNTER RES INC by GOLD HUNTER RES INC

Gold Hunter Resources Inc

GOLD HYDROGEN LIMITED by Gold Hydrogen Limited

Gold Hydrogen Ltd

Gold Line Resources Ltd Ordinary Shares

GOLD MTN MNG CORP by Gold Mountain Mining Corp.

Gold Mountain Mining Corp

Gold Port Corp

GOLD RESV LTD BERMUDA by Gold Reserve Ltd. (Bermuda)

Gold Reserve Ltd

Gold Resource Corp

GOLD RIVER PRODS INC by Gold River Productions, Inc.

Gold River Productions Inc

GOLD ROAD RES LTD ORD by Gold Road Resources Ltd.

Gold Road Resources Ltd

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Gold Springs Resource Corp

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Gold Terra Resource Corp

GOLD AND GEMSTONE MNG INC by Gold and GemStone Mining Inc.

Gold and GemStone Mining Inc

GOLD'N FUTURES MINERL CP by Gold'n Futures Mineral Corp.

Gold n Futures Mineral Corp

Gold79 Mines Ltd

GOLDHAVEN RESOURCES CORP by GoldHaven Resources Corp

GoldHaven Resources Corp

GoldHaven Resources Corp Ordinary Shares

GoldMining Inc

GoldMoney Inc

GOLDON RESOURCES LTD ORD by Goldon Resources Ltd

GoldON Resources Ltd

GOLDQUEST MINING CORP by Goldquest Mining Corp.

GoldQuest Mining Corp

GOLDBANK MINING CORP by Goldbank Mining Corp.

Goldbank Mining Corp

GOLDCLIFF RES CORP ORD by Goldcliff Resource Corp.

Goldcliff Resource Corp

Goldcoin

Goldcrest Co Ltd

GOLDEN AGRI-RES ORD by Golden Agri-Resources

Golden Agri-Resources Ltd

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GOLDEN ALLY LIFETECH GRP by Golden Ally Lifetech Group Inc.

Golden Ally Lifetech Group Inc

GOLDEN APPLE OIL&GAS INC by Golden Apple Oil & Gas, Inc.

Golden Apple Oil and Gas Inc

GOLDEN ARROW RES CP NEW by Golden Arrow Resource Corp.

Golden Arrow Resources Corp

GOLDEN BAND RESOURCES by Golden Band Resources Inc.

Golden Band Resources Inc

Golden Cariboo Resources Ltd

GOLDEN CARIBOO RES LTD by Golden Cariboo Resources Ltd.

GOLDEN DEVELOPING SOL by Golden Developing Solutions, Inc.

Golden Developing Solutions Inc

Golden Energy Offshore Services ASA

GOLDEN ENRGY OFFSHORE SVC by Golden Energy Offshore Services ASA

Golden Entertainment, Inc. - Common Stock

Golden Entertainment Inc

Golden Goliath Resources Ltd

GOLDEN GOLIATH RES LTD by Golden Goliath Resources Ltd.

GOLDEN GRAIL TECH CORP by Golden Grail Technology Corp

Golden Grail Technology Corp

Golden Grain Energy

Golden Growers Coop

GOLDEN HARP RES INC NEW by Golden Harp Resources Inc.

Golden Harp Resources Inc

Golden Heaven Group Holdings Ltd. - Class A Ordinary Shares

Golden Heaven Group Holdings Ltd

GOLDEN HORSE MINERALS LTD by GOLDEN HORSE MINERALS LTD

Golden Horse Minerals Ltd

GOLDEN LAKE EXPL INC by GOLDEN LAKE EXPL INC.

Golden Lake Exploration Inc

Golden Matrix Group Inc

Golden Minerals Co

Golden Nugget Online Gaming, Inc.

Golden Ocean Group Limited - Common Stock

Golden Ocean Group Ltd

GOLDEN PATRIOT CORP by Golden Patriot Corp.

Golden Patriot Corp

GOLDEN PHOENIX MINERALS by Golden Phoenix Minerals, Inc.

Golden Phoenix Minerals Inc

GOLDEN PURSUIT RES LTD by Golden Pursuit Resources Ltd.

Golden Pursuit Resources Ltd

UBS analyst Daniel Major downgrades Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) from Buy to Neutral and lowers the price target from $23 to $22.

News

Downgrades

Price Target

Analyst Ratings

GOLD

UBS Downgrades Barrick Gold to Neutral, Lowers Price Target to $22

Mali's military government has warned that it may let Barrick Gold Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) Loulo mine concession expire in 2026, citing unresolved disputes over the division's economic benefits from the country's <a target="_blank" href="https://www.benzinga.com/topic/mining" rel="noreferrer noopener">second-largest mine</a>.
Following allegations that Barrick failed to honor terms of the September agreement, in an October 18 letter to Barrick CEO Mark Bristow, as seen by Bloomberg, Finance Minister Alousseni Sanou stated that Mali "reserves the right not to renew the operating permit" and called for discussions on the mine's "transition phase" later this month.
Barrick and Mali's government declined Bloomberg's<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-25/mali-threatens-to-let-barrick-mine-permit-lapse-over-dispute" rel="noreferrer noopener"> request</a> for further comment on the dispute.
Barrick, which operates the Loulo mine as part of the larger Loulo-Gounkoto complex, countered by <a target="_blank" href="https://www.barrick.com/English/news/news-details/2024/barrick-responds-to-mali-government-claims-of-breaching-its-commitments/default.aspx" rel="noreferrer noopener">stating</a> that it does not "accept any claims of wrongdoing."
The government demanded $512 million in back taxes and dividends, of which Barrick has paid $85 million, in the context of ongoing negotiations.
Following a 2020 military coup, Mali experienced a disruption in foreign aid and regional funding. The governing military junta <a target="_blank" href="https://www.benzinga.com/news/24/07/39732127/barrick-gold-navigates-new-mining-code-political-changes-to-secure-mali-operations" rel="noreferrer noopener">updated the mining code</a>, raising the state's potential stake in mining projects to 35% from 20%, shortening mining licenses to 10 years, and encouraging more Malian nationals in senior roles at foreign companies.
Barrick, which has operated in Mali for 30 years, asserts that it aims to continue negotiations with the government to reach a fair settlement on profit-sharing and other aspects of their partnership.
So far, the government has rejected their proposal to divide the economic benefit from the complex at 55-45 in the country's favor.
Meanwhile, the domestic political climate remained turbulent through 2024, with heightened instability in northern regions due to conflict involving various rebel groups, al-Qaeda-linked factions, and foreign mercenaries.
Though these conflicts have yet to affect the Loulo-Gounkoto complex due to its location near Senegal's border, Barrick CEO Mark Bristow has made multiple trips to the country to address the rising tensions and ensure stable operations.
Loulo-Gounkoto is one of the top tier 1 gold mines globally. It is critical to Barrick's portfolio and is projected to be its largest gold-producing site in 2024, reaching 510,000 to 560,000 ounces at a cost of $1,150 to $1,250 per ounce.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/10/41517027/five-us-banks-face-billions-in-losses-as-silvers-price-spike-hits-short-sellers-hard-report" target="_blank" rel="noreferrer noopener">Five US Banks Face Billions In Losses As Silver's Price Spike Hits Short Sellers Hard: Report</a></li>
</ul>
Photo via Shutterstock

Commodities

Mali Government Threatens Barrick's Loulo Mine Permit Over Disputes On Economic Benefit Sharing

Investors with a lot of money to spend have taken a bullish stance on Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 14 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 42%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $420,233, and 8 are calls, for a total amount of $354,100.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $25.0 for Barrick Gold over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Barrick Gold's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Barrick Gold's substantial trades, within a strike price spectrum from $10.0 to $25.0 over the preceding 30 days.
<h3>Barrick Gold Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729872288_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$2.27</td>
<td>$2.24</td>
<td>$2.25</td>
<td>$21.00</td>
<td>$225.0K</td>
<td>677</td>
<td>1.0K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$9.85</td>
<td>$9.8</td>
<td>$9.8</td>
<td>$10.00</td>
<td>$86.2K</td>
<td>201</td>
<td>100</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.88</td>
<td>$1.82</td>
<td>$1.88</td>
<td>$21.00</td>
<td>$56.4K</td>
<td>2.1K</td>
<td>313</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$0.27</td>
<td>$0.25</td>
<td>$0.27</td>
<td>$20.00</td>
<td>$54.0K</td>
<td>1.2K</td>
<td>2.1K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$2.68</td>
<td>$2.26</td>
<td>$2.46</td>
<td>$22.00</td>
<td>$49.2K</td>
<td>6.4K</td>
<td>200</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
After a thorough review of the options trading surrounding Barrick Gold, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Barrick Gold</h3>
<ul>
<li>Trading volume stands at 13,129,133, with GOLD's price down by -1.62%, positioned at $19.99.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 13 days.</li>
</ul>
<h3>Expert Opinions on Barrick Gold</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $23.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from UBS has decided to maintain their Buy rating on Barrick Gold, which currently sits at a price target of $23. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Barrick Gold with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

Market Whales and Their Recent Bets on GOLD Options

Barrick Denies Mali Government's Claims Of Commitment Breach; Engages In Negotiations For Settlement Framework, Including Increased State Benefits From Loulo-Gounkoto Complex, Following $85M Payment

PAAS

Shares of gold and silver companies are trading higher. Precious metals have recently gained on macro uncertainty amid Middle East conflict and the upcoming US presidential election.

WIIM

GATO

Shares of precious metals stocks are trading higher as gold and silver rise amid macro uncertainty, which has been attributed to Middle East conflict and the upcoming US presidential election.

After a hurricane-related postponement, President Joe Biden will visit Angola in December, marking his first and last trip to the African continent in the final week of his tenure. Angola, a country with a complex history tied to the United States and its Cold War adversaries, is now at the forefront of new opportunities for collaboration, particularly in infrastructure development and <a href="https://www.benzinga.com/topic/metals">critical mineral supply chains</a>.
A Shifting Foreign Policy
During the Cold War, Angola was a hotspot for proxy battles between the Soviet Union and the United States. Angola&#8217;s civil war, which raged from 1975 to 2002, saw the Soviet Union, Cuba, and China support the ruling MPLA (People&#8217;s Movement for the Liberation of Angola), while the U.S. backed anti-communist rebel groups. Despite being on opposite sides, U.S. oil companies continued operating in Angola, exporting oil to Europe while geopolitical tensions persisted.
Since the end of the civil war, Angola has maintained a relatively stable government under the MPLA, and the U.S. established formal diplomatic relations in 1993. Over the years, the relationship between the two countries has grown, although Angola's primary economic ties have shifted towards China and Russia.
However, following Russia&#8217;s invasion of Ukraine, Angola&#8217;s abstention from the United Nations vote and subsequent vote against Russia signaled a more independent foreign policy—one that could align with Western interests and counterbalance China&#8217;s and Russia&#8217;s influence on the continent.
Also Read: <a href="https://www.benzinga.com/markets/esg/24/10/41409688/this-small-cap-nuclear-stock-is-up-over-100-in-a-month-will-it-keep-generating-momentum">This Small-Cap Nuclear Stock Is Up Over 100% In A Month: Will It Keep Generating Momentum?</a>
The Lobito Corridor
Lobito Corridor is a critical infrastructure project and likely the <a href="https://www.benzinga.com/markets/commodities/24/02/37074505/african-rail-projects-become-battleground-for-us-china-competition-in-strategic-mineral-suppl">focal point of Biden's visit</a>. This corridor, which includes the Benguela Railway, connects Angola's Lobito port to the mineral-rich regions of the Democratic Republic of Congo (DRC) and Zambia. By upgrading this route, the U.S. sees an opportunity to facilitate the export of critical minerals, especially copper and cobalt, essential for the global electric vehicle (EV) transition and renewable energy technologies.
Furthermore, Canadian Ivanhoe Mines (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/IVAPF#OTCQX">IVAPF</a>) was granted a license to explore for copper in Angola just a year ago, showing the growing Western interest in this country rich in manganese, uranium, zinc, wolfram, and, particularly, diamonds.
The Rich Neighborhood
The Lobito Corridor also benefits neighboring Zambia, which boasts 94 active mining projects, including KoBold Metals' <a href="https://www.benzinga.com/news/24/02/36940360/kobold-metals-announces-historic-copper-discovery-in-zambia">largest copper discovery</a> in the country's history. Copper is a critical resource for electronics, renewable energy, and EV batteries, and Zambians know it. They plan to raise their medium-term copper production to <a href="https://www.benzinga.com/markets/commodities/24/04/38115830/zambia-mining-boom-the-road-to-1-million-tons-of-copper">one million tons per year</a>.
Historically, Zambia has faced infrastructure bottlenecks that have <a href="https://www.benzinga.com/markets/commodities/24/03/37466646/zambia-plans-to-increase-copper-production-but-faces-3-problems">constrained its mining potential</a>. By leveraging the Lobito Corridor, Zambia could significantly boost its copper exports to global markets, especially as U.S. allies such as Saudi Arabia have <a href="https://www.benzinga.com/news/24/10/41399210/saudi-arabia-targeting-billions-in-zambian-assets-despite-persistent-infrastructure-troubles">recently invested in Zambian copper assets</a>, including First Quantum's (OTCPK: FQVLF) Kansanshi and Sentinel copper mines. Additionally, Barrick Gold's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) Lumwana copper mine in Zambia is one of the country's major copper producers, further highlighting the potential economic boost the Lobito Corridor could provide.
Countering China's Influence
For Angola, which is heavily indebted to China, this infrastructure project represents an opportunity to diversify its economic partnerships. China is Angola&#8217;s largest trading partner, primarily driven by oil exports. Yet, U.S. investments in projects like the Lobito Corridor could shift the country's economic focus toward the West, reducing its dependence on Chinese loans and infrastructure development.
President Biden's visit, therefore, comes at a crucial time. His trip opens a path to critical African commodities, countering China's Belt and Road initiative by providing a faster, more efficient route to Europe and the U.S., bypassing the Indian Ocean, and strengthening trade ties with Western markets.
Read Next:
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</ul>
Photo: Shutterstock

Emerging Markets

Politics

FQVLF

IVAPF

Biden's Farewell To Africa: Strategic Motives Behind First And Only Presidential Visit

SAND

SBSW

SSRM

Shares of precious metals stocks are trading higher amid a rise in the price of gold and silver.

Manara Minerals, a joint venture between Saudi Arabia's Public Investment Fund (PIF) and Ma'aden (Saudi Arabian Mining Co), is nearing a deal to purchase a 15% to 20% stake in First Quantum Minerals (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FQVLF#OTC">FQVLF</a>) Zambian copper and <a target="_blank" href="https://www.benzinga.com/topic/nickel" rel="noreferrer noopener">nickel assets</a>.
The potential transaction, which Reuters <a target="_blank" href="https://www.reuters.com/markets/deals/saudis-manara-advanced-talks-buy-stake-first-quantums-zambian-mines-2024-10-16/" rel="noreferrer noopener">reported</a> citing information from trusted sources, is valued between $1.5 billion and $2 billion. It includes First Quantum's Kansanshi and Sentinel copper mines and the Enterprise nickel mine.
This deal aligns with Manara's recent investments, including a <a target="_blank" href="https://www.benzinga.com/news/24/10/41311099/terrorism-in-pakistan-threatens-foreign-mine-development-saudi-arabia-still-invests-billions" rel="noreferrer noopener">$1 billion commitment </a>to Barrick Gold's Reko Diq project in Pakistan and a $2.5 billion investment in Brazilian mining giant Vale.
The sale of its Zambian assets would help the company manage its debt while retaining control over its key operations.
In December 2023, after the Panama government <a target="_blank" href="https://www.benzinga.com/markets/commodities/23/12/36259547/copper-shortage-first-quantums-cobre-panama-mine-shuts-down-threatening-supply-balance" rel="noreferrer noopener">ordered the shutdown</a> of its flagship Cobre Panama mine, First Quantum lost significant revenue, pushing the company to <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/03/37483591/first-quantum-exploring-zambian-asset-sales" rel="noreferrer noopener">explore capital restructuring</a>, including selling assets and issuing a $1 billion share offering.
Zambia, a major player in global copper production, holds vast potential for mining investors, as this metal is critical to the green energy transition. This year, B, a startup backed by billionaires including Bill Gates and Jeff Bezos, announced the discovery of one of the <a target="_blank" href="https://www.benzinga.com/news/24/02/36940360/kobold-metals-announces-historic-copper-discovery-in-zambia" rel="noreferrer noopener">largest copper deposits</a> in Zambia's history at the Mingomba site. However, the country's mining sector faces significant challenges, particularly in terms of infrastructure.
Road and rail networks are underdeveloped, limiting material transport, and the country has faced ongoing issues with power supply.
Zambia relies on hydropower for 80% of its electricity, but droughts and fluctuating rainfall have caused frequent shortages.
For companies like First Quantum, ensuring consistent energy for operations has become a key concern. Emergency measures such as importing electricity from South Africa's Eskom have been implemented to mitigate the impact.
Power outages disrupt operations and make mining investments less attractive to foreign investors. The mining industry generates as much as 70% of exports while using about half of the national power demand, making the country's plan to boost the copper output to 1 <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38115830/zambia-mining-boom-the-road-to-1-million-tons-of-copper" rel="noreferrer noopener">million tons by 2026</a> ambitious.
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41390144/gold-could-reach-3-000-by-2025-bank-of-america-analyst-says-ultimate-perceived-safe" target="_blank" rel="noreferrer noopener">Gold Could Reach $3,000 By 2025, Bank Of America Analyst Says: ‘Ultimate Perceived Safe Haven'</a></li>
</ul>
Photo via Shutterstock

Rumors

Media

Saudi Arabia Targeting Billions In Zambian Assets, Despite Persistent Infrastructure Troubles

High-rolling investors have positioned themselves bullish on Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GOLD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 15 options trades for Barrick Gold. This is not a typical pattern.
The sentiment among these major traders is split, with 40% bullish and 40% bearish. Among all the options we identified, there was one put, amounting to $45,630, and 14 calls, totaling $1,001,238.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $22.0 for Barrick Gold over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Barrick Gold's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Barrick Gold's whale trades within a strike price range from $10.0 to $22.0 in the last 30 days. 
<h3>Barrick Gold Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729106153_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$10.9</td>
<td>$10.0</td>
<td>$10.5</td>
<td>$10.00</td>
<td>$169.0K</td>
<td>3.7K</td>
<td>163</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$3.75</td>
<td>$3.65</td>
<td>$3.65</td>
<td>$18.00</td>
<td>$109.5K</td>
<td>53</td>
<td>988</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$3.85</td>
<td>$3.75</td>
<td>$3.75</td>
<td>$18.00</td>
<td>$105.7K</td>
<td>53</td>
<td>646</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$3.8</td>
<td>$3.7</td>
<td>$3.7</td>
<td>$18.00</td>
<td>$102.5K</td>
<td>53</td>
<td>1.2K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$0.96</td>
<td>$0.91</td>
<td>$0.95</td>
<td>$19.50</td>
<td>$95.0K</td>
<td>165</td>
<td>1.1K</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Barrick Gold</h3>
<ul>
<li>Trading volume stands at 18,392,655, with GOLD's price up by 0.35%, positioned at $20.28.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 22 days.</li>
</ul>
<h3>Expert Opinions on Barrick Gold</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $23.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Barrick Gold with a target price of $23. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Barrick Gold with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Barrick Gold's Options: A Look at What the Big Money is Thinking

Barrick Gold Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) shares are trading lower on Wednesday. The company reported preliminary<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41353276/barrick-reports-q3-preliminary-production-results-with-continued-improvement-at-pueblo-viejo" rel="noreferrer noopener"> third-quarter production metrics</a>.
The company sees production of 943,000 ounces of gold and 48,000 tonnes of copper and preliminary sales of 967,000 ounces of gold and 42,000 tonnes of copper.
Barrick anticipates a significantly stronger fourth quarter, aiming to meet its full-year production guidance for both gold and copper in 2024.
Notably, in the third quarter, the average market price for gold was $2,474 per ounce, while copper averaged $4.18 per pound.
The company said that preliminary gold production remained steady on a Q/Q basis.
Pueblo Viejo sequentially improved by 23% due to ongoing plant optimization, while North Mara benefited from higher grades.
On a Q/Q basis, the third quarter gold cost of sales per ounce is expected to increase by 1% to 3%, total cash costs by 3% to 5%, and all-in-sustaining costs by 0% to 2%, partly due to higher royalties from increased gold prices.
Meanwhile, preliminary copper production increased Q/Q, mainly due to higher grades and recoveries at Lumwana, which benefited from improved ore access following ramped-up stripping activities in the second quarter.
On a Q/Q basis, the third quarter cost of sales per pound is expected&nbsp;to rise by 5% to 7% and C1 cash costs by 13% to 15%.
However, all-in-sustaining costs per pound are expected to decrease by 2% to 4%, primarily due to reduced capitalized waste stripping at Lumwana.
Barrick is scheduled to release its third quarter results before the market <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">opens on November 7, 2024</a>.
Investors can gain exposure to the stock via&nbsp;Sprott Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and&nbsp;VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: GOLD shares are down 0.47% at $20.12 at the last check Wednesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41311099/terrorism-in-pakistan-threatens-foreign-mine-development-saudi-arabia-still-invests-billions" target="_blank" rel="noreferrer noopener">Terrorism in Pakistan Threatens Foreign Mine Development, Saudi Arabia Still Invests Billions</a></li>
</ul>

Equities

Large Cap

Guidance

Movers

Market Vectors ETF Trust Market Vectors Gold Miners

SGDM

Barrick Sees Stable Gold Output In Q3, Prepares For Stronger Q4

Barrick Gold Continues To Expect A Materially Stronger Q4 To Deliver 2024 Production Within The Range Of Its Full Year Gold And Copper Guidance

Barrick Gold Reported Preliminary Q3 Production Of 943 Thousand Ounces Of Gold And 48 Thousand Tonnes Of Copper, As Well As Preliminary Q3 Sales Of 967 Thousand Ounces Of Gold And 42 Thousand Tonnes Of Copper

UBS analyst Daniel Major maintains Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) with a Buy and raises the price target from $22 to $23.

UBS Maintains Buy on Barrick Gold, Raises Price Target to $23

Terrorism against the miners is threatening key foreign investment in Pakistan. At least 20 miners were killed and seven others wounded in an attack on a coal mine in Duki district, in the southwestern province of Balochistan – a region housing Barrick Gold's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40915786/barrick-forecasts-strong-organic-growth-by-2030-ceo-bristow-touts-undervaluation" rel="noreferrer noopener">principal copper-gold project</a>.
Per Al Jazeera's <a target="_blank" href="https://www.aljazeera.com/news/2024/10/11/armed-attackers-kill-20-coal-miners-in-southwest-pakistan" rel="noreferrer noopener">report</a>, gunmen stormed the miners' quarters, fired rockets, and used grenades, damaging equipment before fleeing the scene. No group has yet claimed responsibility for the attack, but suspicion is likely to fall on Balochistan separatist groups that have long targeted workers from outside the region.
Balochistan, situated between Afghanistan and Iran, has a long history of tensions between local ethnic groups and the federal government. Pakistan's largest yet least populated provinces are rich in natural resources, including copper, gold, and oil.
However, it has been plagued by a low-level insurgency since 2004, with separatist groups accusing Islamabad of exploiting these resources without benefiting the local Baloch population.
The region's resource wealth is crucial to Pakistan's economic aspirations, and the region's mineral potential has attracted international investors.
Saudi Arabia signed a $2 billion investment deal across various sectors, including mining.
Additionally, Saudis invested $1 billion in Barrick Gold's Reko Diq copper-gold mine. Located in the Chagai district, Reko Diq is one of the largest undeveloped copper-gold deposits in the world.
Per the<a target="_blank" href="https://www.middleeastmonitor.com/20241011-saudi-to-acquire-stake-in-copper-gold-mining-project-in-pakistan/" rel="noreferrer noopener"> Middle East Monitor</a>, Saudi-backed Manara Minerals Investment Company bought into a part of the Pakistani federal government, which held 25% of the project. Barrick continues to hold 50%, with the remaining 25% in the hands of the Balochistan provincial government.
Pakistan has four additional major mineral projects, including copper sites in the aforementioned Chagai, Waziristan district, and a copper smelter in Gwadar.
The city of Gwadar is critical to Pakistan's connectivity with global trade routes, especially as part of China's Belt and Road Initiative. Yet the lack of business activity and poor infrastructure have rendered these opportunities fruitless—despite its ability to host bigger ships than Karachi, the country's main seaport.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/24/10/41295764/copper-rebounds-as-chinas-stimulus-boosts-market-sentiment-but-us-elections-loom-large" target="_blank" rel="noreferrer noopener">Copper Rebounds As China's Stimulus Boosts Market Sentiment, But US Elections Loom Larg</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a target="_blank" href="mailto:licensing@benzinga.com" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!

Terrorism in Pakistan Threatens Foreign Mine Development, Saudi Arabia Still Invests Billions

Deep-pocketed investors have adopted a bullish approach towards Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOLD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Barrick Gold. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 4 are puts, totaling $364,606, and 5 are calls, amounting to $485,755.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $17.0 and $25.0 for Barrick Gold, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 11794.14 with a total volume of 11,396.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Barrick Gold's big money trades within a strike price range of $17.0 to $25.0 over the last 30 days.
<h3>Barrick Gold Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728679632_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.45</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$17.00</td>
<td>$340.0K</td>
<td>40.9K</td>
<td>2.0K</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$5.1</td>
<td>$5.0</td>
<td>$5.0</td>
<td>$25.00</td>
<td>$149.5K</td>
<td>131</td>
<td>300</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.75</td>
<td>$5.65</td>
<td>$5.65</td>
<td>$25.00</td>
<td>$111.3K</td>
<td>940</td>
<td>206</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.35</td>
<td>$0.34</td>
<td>$0.34</td>
<td>$20.00</td>
<td>$68.0K</td>
<td>7.7K</td>
<td>2.4K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$1.16</td>
<td>$1.14</td>
<td>$1.15</td>
<td>$20.00</td>
<td>$50.4K</td>
<td>22.5K</td>
<td>502</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Barrick Gold Standing Right Now?</h3>
<ul>
<li>With a volume of 14,983,988, the price of GOLD is down -0.45% at $19.98. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 27 days.</li>
</ul>
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Barrick Gold, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Spotlight on Barrick Gold: Analyzing the Surge in Options Activity

Mali Seeking $500M In Taxes, Dividends From Barrick Gold

Reported Saturday, Barrick Gold's Twiga Partnership Boosts Tanzanian Revenue And Expands Education And Safety Initiatives

With gold prices reaching a new peak of $2,653.98 per troy ounce, marking a significant year-to-date surge of 28.71%, investors understandably turn their attention to the gold market and the companies poised to benefit from this upward trend. As a traditional safe haven investment, gold often attracts investors seeking to hedge against inflation and economic uncertainty. The current surge in demand, driven by central banks and investors seeking portfolio diversification, has further fueled interest in this sector. Barrick Gold (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>), a leading gold mining company, is at the forefront of this industry, presenting a compelling investment opportunity for those seeking exposure to the precious metal.
<h2>Strong Financials, A Steady Foundation</h2>
Barrick Gold&#39;s financial performance underscores its solid standing in the gold mining industry. The company recently reported a 20.11% increase in quarterly revenue compared to the same period last year, signaling strong growth and financial health. This financial performance, coupled with a significant market capitalization of around $36 billion, positions Barrick Gold favorably to capitalize on the positive trends in the gold market. Furthermore, Barrick Gold&#39;s debt-to-equity ratio (D/E), currently at a healthy 0.15, demonstrates responsible debt management, a key factor for investors concerned about financial risk. This strong financial foundation creates a solid base for potential future growth and makes Barrick Gold a more attractive investment for those seeking exposure to the gold market.
<h2>A Look at Barrick Gold&#39;s Share Price</h2>
Despite the recent surge in gold prices, the gold market remains inherently volatile, which presents opportunities and challenges for investors in gold mining companies like Barrick Gold. While the recent 52-week high of $21.21 reflects a favorable period for the stock, it has also dipped to a low of $13.76, showcasing the potential for significant fluctuations. Barrick Gold&#39;s share price has shown resilience, with a one-year performance of +39.79% and a year-to-date gain of +12.44%.&nbsp;
For investors considering Barrick Gold, this volatility necessitates carefully assessing their risk tolerance and investment goals. While the company&#39;s solid financials and the favorable gold market present opportunities, price fluctuations in Barrick Gold&#39;s stock price underscore the importance of a long-term perspective and a thorough understanding of the potential risks. While Barrick Gold&#39;s share price has demonstrated resilience, the short-term fluctuations highlight the need for a disciplined investment approach, potentially using strategies like dollar-cost averaging or focusing on longer-term holding periods.
<h2>Central Banks Fuel a Gold Rush, Boosting Barrick Gold&#39;s Prospects</h2>
The gold market is experiencing increased demand from investors seeking portfolio diversification and a safe haven asset, and there is a significant appetite for gold among central banks. This trend, mainly driven by China, is a key factor fueling the strength of the gold market. In 2023 alone, China purchased 1,037 tonnes of gold, a substantial amount, further solidifying its position as the world&#39;s largest gold holder. The first quarter of 2024 saw even more aggressive buying by central banks, marking the fourth-strongest quarter of purchases since 2022.
This growing demand from central banks underscores the increasing perception of gold as a safe haven asset, a trend that could continue to drive gold prices higher in the coming months and years. This surge in demand, combined with the existing strong appetite from investors, creates a favorable backdrop for gold mining companies like Barrick Gold. As a leading gold producer with a solid financial foundation and ambitious growth strategies, Barrick Gold is well-positioned to capitalize on this trend, potentially benefiting from higher gold prices and increasing investor interest.
<h2>A Growth Trajectory: Expansion and Sustainability</h2>
Barrick Gold is focused on maximizing its current performance and actively investing in its future growth through strategic expansion projects and a commitment to sustainable mining practices. This dual focus strengthens the company&#39;s appeal to investors seeking long-term value and a responsible approach to mining.
The company is pursuing several significant projects designed to increase production capacity significantly. These include the Goldrush mine in Nevada, projected to reach an annual output of over 400,000 ounces by 2028, and the Fourmile project, which has the potential for annual production in excess of 500,000 ounces over two decades. These expansion efforts showcase Barrick Gold&#39;s commitment to future growth, potentially leading to higher production levels and increased profitability.
Barrick Gold&#39;s dedication to sustainable mining practices further solidifies its commitment to responsible operations. The company has developed an innovative biodiversity tool designed to assess its impact on biodiversity across its operations. This tool provides tangible metrics that inform actionable conservation strategies and helps Barrick Gold measure its performance against concrete goals. This proactive approach, combined with the company&#39;s commitment to local communities and economic development, reinforces its image as a responsible and forward-thinking company.
<h2>A Balanced Perspective: Time to Buy?</h2>
Barrick Gold presents a compelling opportunity for those seeking exposure to the gold market. The company&#39;s strong financial foundation and commitment to growth and sustainability position it favorably to capitalize on the strong global demand for gold. The positive trends in the gold market, fueled by factors like central bank purchases and increasing investor interest, are creating a favorable environment for gold mining companies like Barrick Gold.
Considering Barrick Gold&#39;s current position, strategies like dollar-cost averaging or focusing on long-term holding periods could be considered. Ultimately, Barrick Gold offers a solid investment opportunity with potential for growth and long-term value for those seeking exposure to the gold market.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/ready-for-growth-barrick-gold-stock-could-be-the-answer/">Ready for Growth? Barrick Gold Stock Could Be the Answer</a>&quot; first appeared on MarketBeat.

Events

Trading Ideas

Ready for Growth? Barrick Gold Stock Could Be the Answer

High-rolling investors have positioned themselves bullish on Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GOLD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Barrick Gold. This is not a typical pattern.
The sentiment among these major traders is split, with 60% bullish and 20% bearish. Among all the options we identified, there was one put, amounting to $54,950, and 9 calls, totaling $315,199.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $14.0 to $22.0 for Barrick Gold over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Barrick Gold's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Barrick Gold's whale trades within a strike price range from $14.0 to $22.0 in the last 30 days. 
<h3>Barrick Gold 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727814646_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.76</td>
<td>$1.75</td>
<td>$1.75</td>
<td>$21.00</td>
<td>$54.9K</td>
<td>451</td>
<td style="text-align: right;">355</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$3.55</td>
<td>$3.45</td>
<td>$3.55</td>
<td>$17.00</td>
<td>$53.2K</td>
<td>1.6K</td>
<td style="text-align: right;">150</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.71</td>
<td>$1.7</td>
<td>$1.7</td>
<td>$22.00</td>
<td>$42.1K</td>
<td>6.1K</td>
<td style="text-align: right;">377</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/04/24</td>
<td>$1.31</td>
<td>$1.27</td>
<td>$1.3</td>
<td>$19.00</td>
<td>$39.0K</td>
<td>702</td>
<td style="text-align: right;">600</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$3.45</td>
<td>$3.4</td>
<td>$3.43</td>
<td>$18.00</td>
<td>$34.3K</td>
<td>30</td>
<td style="text-align: right;">191</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
Having examined the options trading patterns of Barrick Gold, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Barrick Gold Standing Right Now?</h3>
<ul>
<li>With a volume of 20,880,726, the price of GOLD is up 2.21% at $20.33. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 30 days.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
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Check Out What Whales Are Doing With GOLD

As gold is often seen as a safe-haven asset, gold mining companies tend to benefit when gold prices rise, offering a hedge against inflation, currency fluctuations, and geopolitical risks. Thus, amid this, it could be ideal to invest in solid gold stocks AngloGold Ashanti (AU), Agnico Eagle Mines (AEM), and Barrick Gold (GOLD) for portfolio safety. Continue reading... Federal Reserve's recent rate cuts have fueled the economy and thus boosted the gold market. The gold market is further poised to prosper with changing economic dynamics and geopolitical tensions in the Middle East.
Against this backdrop, it could be wise to buy fundamentally sound gold stocks AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>), Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>), and Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>) for portfolio safety.
Gold remains constant as a safe haven asset amid market volatility and economic downtrends, keeping its demand high among investors. Recently, the U.S. inflation data raised hopes of a rate cut next month, restraining the dollar below recent highs, and increasing gold demand stemmed from the geopolitical concerns in the Middle East lifting the bullion.
Last week, <a href="https://www.reuters.com/markets/commodities/gold-drifts-higher-after-data-supports-us-rate-cut-bets-2024-10-11/">spot gold rose 1.1% to $2,658.42 per ounce</a>, and U.S. gold futures were up 1.4%, settling at $2676.30. Also, the gold market is currently benefiting from the ongoing rising tensions in the Middle East, which has boosted bets for further <a href="https://www.reuters.com/markets/commodities/gold-breaks-2600-barrier-fed-cut-bets-prolong-historic-run-2024-09-20/">U.S. interest rate cuts</a>.
During the second quarter, with increasing mine production and recycling, <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024/supply">total gold supply grew 4%</a> year-over-year to 1,258.2 tonnes. Also, total gold supply was 1% higher year-over-year at 2,441t, driven by 2% growth in mine production. Recycled gold volumes in the second quarter increased 4% from the prior year.
Expanding gold production capabilities in mining areas, supply-demand dynamics, and current geopolitical factors are propelling the market growth. As per IMARC Group, the global gold market is expected to reach 3460.71 Tons by 2032, expanding at a <a href="https://www.imarcgroup.com/gold-pricing-report">CAGR of 1.6%</a>.
Amid this, demand for gold continues to jump and attract investors' attention. Its quality to act as a hedge against inflation and growth potential poises the mining industry for long-term growth and protects your portfolio.
Given these conducive industry trends, let's delve into the fundamentals of the top three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, beginning with number 3.
Stock #3: AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>)
AU operates as a gold mining company internationally. The company primarily explores for gold and produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.
AU's forward <a href="https://www.investopedia.com/terms/e/ev-ebitda.asp">EV/EBITDA</a> of 5.19x is 42% lower than the industry average of 8.96x. Likewise, the stock's forward non-GAAP P/E multiple of 9.98 is 40.3% lower than the industry average of 16.72. Similarly, its forward EV/EBIT of 7.87x is 45.7% lower than the industry average of 14.49x.
During the second quarter that ended June 30, 2024, AU's revenue from product sales increased 19.2% from the year-ago value to $1.38 billion. The company's gross profit grew 84.6% year-over-year to $467 million. Its profit for the period and EPS totaled $262 million and $60, compared to a loss for the period of $81 million and $20 per share during the prior year's quarter, respectively.
In addition, the company's adjusted EBITDA increased 92.1% year-over-year to $684 million, and its free cash flow was $183 million for the quarter.
Analysts expect AU's EPS for the fiscal year (ending December 2025) to grow 27.9% year-over-year to $3.48. The company's revenue for the same year is expected to increase 11.3% year-over-year to $6.27 billion. Shares of AU have soared 12% over the past six months and 43.6% over the past year to close the last trading session at $27.18.
AU's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
AU has an A grade for Growth. The stock also has a B grade for Quality. It is ranked #13 in the list of 42 stocks within the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry.
To check other POWR Ratings of AU for Sentiment, Value, Momentum, and Stability, <a href="https://stocknews.com/stock/AU/">click here</a>.
Stock #2: Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>)
Headquartered in Toronto, Canada, AEM engages in the exploration, development, and production of precious metals. The company's mines are located in Canada, Australia, Finland, and Mexico, and they have exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.
On June 24, AEM announced the acquisition of 33,821,842 common shares of Maple Gold Mines Ltd. on June 21, 2024, for a price of $0.085 per common share for a total consideration of approximately $2.87 million from several sellers that acquired the common shares in connection with an offering of flow-through common shares issued by Maple.
The share purchase brought AEM's holding to 74,674,257 common shares, representing around 19.9% of the issued and outstanding common shares.
For the second quarter, which ended June 30, 2024, AEM's revenues from mining operations increased by 20.9% from the year-ago value to $2.08 billion. The company's adjusted net income came in at $535.27 million and $1.07 per share, reflecting increases of 68.2% and 64.6% year-over-year, respectively. Its adjusted EBITDA stood at $1.18 billion, up 32.9% year-over-year.
Also, the company's free cash flow rose 86.7% from the year-ago value to $557.24 million.
Street expects AEM's revenue for the third quarter (ended September 2024) to grow 28.3% year-over-year to $2.11 billion, while its EPS is expected to increase 123.4% year-over-year to $0.98, respectively. Further, it topped the consensus revenue and EPS estimates in all of the trailing four quarters.
Over the past six months, AEM's stock has surged 28.9% and 67.1% over the past year to close the last trading session at $79.46.
AEM's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
AEM has a B grade for Growth and Sentiment. The stock is ranked #11 among the 42 stocks in the B-rated Miners - Gold industry.
To check other POWR Ratings of AEM for Value, Quality, Momentum, and Stability, <a href="https://stocknews.com/stock/AEM/">click here</a>.
Stock #1: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
Based in Toronto, Canada, GOLD is in the exploration, mine development, production, and sale of gold and copper properties worldwide. The company has ownership interests in producing gold mines in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the U.S.
On October 2, GOLD announced the development of a Super Pit at its Lumwana copper mine, officially launched by the Zambian President, His Excellency Hakainde Hichilema, accompanied by members of his cabinet. The feasibility study for the Super Pit Expansion will be carried out by the end of the year, paving the way for construction to start in 2025.
Once it is completed, the $2 billion project unlocks the potential to transform Lumwana into a long-life, high-yielding, top-25 copper producer and a Tier One copper mine.
GOLD's revenues increased 11.6% year-over-year to $3.16 billion for the second quarter that ended June 30, 2024. The company's adjusted net earnings were $557 million and $0.32 per share, up 65.8% and 68.4% from the prior year's quarter, respectively. Its attributable EBITDA rose 30.5% from the year-ago value to $1.29 billion.
Analysts expect GOLD's revenue and EPS for the third quarter (ended September 2024) to increase 20.6% and 43.4% year-over-year to $3.45 billion and $0.34, respectively. Also, the company has surpassed the consensus EPS estimates in each of the trailing four quarters.
Over the past six months, the stock has surged 10.8% and 31.3% over the past year to close the last trading session at $19.99.
GOLD's robust outlook is projected in its POWR Ratings. The stock has an overall grade of B, translating to a Buy in our proprietary rating system.
The stock has a B grade for Sentiment and Quality. It is ranked #10 out of 42 stocks within the same industry.
To see the other ratings of GOLD for Growth, Value, Stability, and Momentum, <a href="https://stocknews.com/stock/GOLD/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
AEM shares fell $0.50 (-0.63%) in after-hours trading Monday. Year-to-date, AEM has gained 48.33%, versus a 24.09% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/aem-gold-au-3-gold-mining-stocks-to-buy-for-portfolio-safety/>3 Gold Mining Stocks to Buy for Portfolio Safety</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Mining Stocks to Buy for Portfolio Safety

Barrick Gold (TSE:ABX) has released an update. Barrick Gold Corporation refutes claims by the Malian government of breaching commitments related to...

Barrick Gold Denies Breach Allegations in Mali

Gold miners drop as Newmont's earnings disappointment fuels cost concerns

As market uncertainty escalates due to geopolitical tensions and economic instability, gold continues to shine as a reliable safe haven asset. With increasing industrial demand and expectations for price appreciation, investing in gold stocks, AngloGold Ashanti (AU), Agnico Eagle Mines (AEM), and Barrick Gold (GOLD) could provide a strategic safeguard. Read on… Gold has a longstanding reputation as a safe haven asset. As market volatility increases and industrial demand grows, gold continues to be viewed as a secure investment option, leading to expectations of further price appreciation.
That said, investing in gold stocks, AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>), Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>) and Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), could offer significant advantages. These companies' resilience amid market fluctuations positions them well to capitalize on gold's rising value.
As the election season heats up, it's anticipated that the markets will experience heightened uncertainty, a phenomenon that usually accompanies Presidential election cycles. This year, however, experts expect a degree of market volatility unseen <a href="https://www.forbes.com/sites/jasonschenker/2024/10/14/us-presidential-election-outcome-uncertainty-could-roil-markets/">since the year 2000</a>, adding weight to the economic climate's unpredictability.
Further fueling this uncertain environment are the ongoing conflicts in the Middle East and the Ukraine-Russia crisis. The geopolitical tensions are injecting instability into global markets, intensifying concerns for investors. However, during periods of economic uncertainty, investors traditionally flock to gold, prized for its historical resilience.
Gold serves as <a href="https://www.investopedia.com/financial-edge/0311/what-drives-the-price-of-gold.aspx#:~:text=Gold%20is%20often%20considered%20a%20safe%20haven%20for,against%20economic%20events%20like%20currency%20devaluation%20or%20inflation.">a "safe haven" asset</a>, offering financial security when other investments falter. For many, it remains a preferred safeguard amid political upheaval and economic instability. This sentiment has driven gold's exceptional performance in 2024, with prices reaching unprecedented levels.
In March, the price per ounce surged to $2,160, an 8% increase from December 2023. This upward trajectory marked the beginning of gold's remarkable rally, fueled by strong investor demand and market fears. The trend continued through the year, with gold setting record highs almost monthly.
The price now hovers <a href="https://www.msn.com/en-us/money/other/gold-prices-are-closing-in-on-2-800-should-you-buy-in-now/ar-AA1sFcnR?ocid=BingNewsVerp">near $2,800 per ounce</a>, a testament to the commodity's enduring allure. Many analysts expect this rally to extend further, with predictions that gold could reach $3,000 per ounce by year's end.
Gold's value isn't solely anchored in its role as a safe investment. Increasingly, it's used across industries such as electronics and healthcare, where technological advancements rely on gold's unique properties. This surge in industrial demand promises further price support, cementing gold's role as a versatile asset.
Given these trends, let's dive deep into the fundamentals of three <a href="https://stocknews.com/category/gold-miners/">Miners – Gold</a> stocks, beginning with #3.
Stock #3: AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>)
AU is a prominent gold mining company operating across Africa, Australia, and the Americas. The company focuses on gold exploration and also produces silver and sulphuric acid as by-products. Its key asset is the Geita mine, fully owned and located in the Lake Victoria goldfields of Tanzania's Mwanza region.
AU's trailing-12-month EBITDA margin of 30.09% is 81.9% higher than the industry average of 16.54%. Its trailing-12-month EBIT margin of 17.44% is 62% higher than the sector average of 10.77%. Likewise, the stock's ROTC of 8.74% is 74.6% higher than the industry average of 5%.
For the fiscal 2024 second quarter that ended on June 30, AU's revenue from product sales increased 19.3% year-over-year to $1.38 billion. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 84.6% from the year-ago value to $467 million.
Moreover, the company's profit for the period and earnings per ordinary share came in at $262 million and $0.60, compared to a net loss and loss per share of $81 million and $0.20 in the prior year's quarter, respectively.
Analysts expect AU's revenue for the fiscal year ending December 2025 to increase 15.4% year-over-year to $6.57 billion. Its EPS for the same period is expected to rise 5.6% from the prior year to $2.92.
Shares of AU have surged 36.7% over the past six months and 60.4% over the past year to close the last trading session at $29.97.
AU's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust fundamentals. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
AU has an A grade for Growth and a B for Quality. It is ranked #15 out of 42 stocks within the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners – Gold</a> industry.
To check AU's ratings for Sentiment, Value, Momentum, and Stability, <a href="https://stocknews.com/stock/AU/">click here</a>.
Stock #2: Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>)
AEM, based in Toronto, Canada, produces precious metals from its diverse operations in Canada, Australia, Finland, and Mexico. It has a robust pipeline of exploration and development projects across these regions, as well as in the United States. Notable operations include the Canadian Malartic Complex, Detour Lake, and Fosterville.
On June 24, AEM <a href="https://www.agnicoeagle.com/English/investor-relations/news-and-events/news-releases/news-release-details/2024/AGNICO-EAGLE-ANNOUNCES-ADDITIONAL-INVESTMENT-IN-MAPLE-GOLD-MINES-LTD/default.aspx">announced the acquisition</a> of 33,821,842 common shares of Maple Gold Mines Ltd. at a price of $0.085 per share, for a transaction value of approximately $2.87 million. The acquisition could enhance AEM's investment in resource assets and support its long-term growth in the mining sector.
On June 19, AEM <a href="https://www.agnicoeagle.com/English/investor-relations/news-and-events/news-releases/news-release-details/2024/AGNICO-EAGLE-RELEASES-DETOUR-LAKE-PROPOSED-UNDERGROUND-MINING-PLAN-DEMONSTRATING-STRONG-RETURNS-AND-PATHWAY-TO-ANNUAL-GOLD-PRODUCTION-OF-ONE-MILLION-OUNCES/default.aspx">provided an update</a> on the Detour Lake mine in Ontario, where it plans to initiate a conversion and expansion drill program targeting the western plunge of the mineralization. With a long mineral reserve life and substantial production base at both Detour Lake and Canadian Malartic, AEM is expected to strengthen its production profile and potentially ensure sustained value for years ahead.
AEM's trailing-12-month gross profit margin of 57.76% is 103.8% higher than the industry average of 28.3%. The stock's trailing-12-month levered FCF margin of 18.30% is 261.1% higher than the sector average of 5.07%. Additionally, its trailing-12-month EBITDA margin of 49.97% is 202.1% higher than the 16.54% industry average.
For the fiscal second quarter that ended on June 30, 2024, AEM's revenues from mining operations increased 20.9% year-over-year to $2.08 billion. Its adjusted EBITDA grew 32.9% from the year-ago value to $1.18 billion.
Plus, the company's adjusted net income for the period rose 68.3% from the prior year's quarter to $535.27 million. Meanwhile, AEM's adjusted net income per share came in at $1.07, up 67.2% year-over-year.
Street expects AEM's revenue and EPS for the fiscal third quarter (ended September 2024) to grow 28.7% and 133% year-over-year to $2.11 billion and $1.03, respectively. Moreover, the company topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is noteworthy.
AEM's shares have surged 38.1% over the past six months and 77.9% over the past year to close the last trading session at $87.93.
AEM's solid prospects are projected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
AEM has an A grade for Sentiment and a B for Growth. It is ranked #12 within the same industry.
<a href="https://stocknews.com/stock/AEM/">Click here</a> to see AEM's ratings for Quality, Value, Momentum, and Stability.
Stock #1: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
GOLD, headquartered in Toronto, Canada, explores, develops, produces, and sells gold and copper properties both in Canada and internationally. The company further explores and sells silver and energy materials. Its key operations encompass Nevada Gold Mines, Bulyanhulu, Hemlo, and several others across various countries.
On October 16, GOLD reported <a href="https://www.barrick.com/English/news/news-details/2024/barrick-reports-q3-preliminary-production-results-with-continued-improvement-at-pueblo-viejo/default.aspx">preliminary third-quarter production</a> of 943,000 ounces of gold and 48,000 tonnes of copper, with sales reaching 967,000 ounces of gold and 42,000 tonnes of copper. This performance, along with a projected stronger fourth quarter, is expected to help GOLD meet its full-year production goals, bolstering its revenue outlook.
On October 2, GOLD <a href="https://www.barrick.com/English/news/news-details/2024/lumwana-super-pit-expansion-officially-launched/default.aspx">announced the launch</a> of a $2 billion Super Pit project at its Lumwana copper mine, inaugurated by Zambian President Hakainde Hichilema. Expected to begin construction in 2025, the development could grow GOLD's copper output, strengthening its asset base and supporting long-term growth in the copper market.
GOLD's trailing-12-month EBITDA margin of 44.69% is 170.2% higher than the industry average of 16.54%. Its trailing-12-month levered FCF margin of 8.53% is 68.3% higher than the sector average of 5.1%. Furthermore, the stock's trailing-12-month net income margin of 12.78% is 156.9% higher than the 4.98% industry average.
GOLD's revenues for the fiscal 2024 second quarter, which ended June 30, increased 11.6% year-over-year to $3.16 billion. Its attributable EBITDA grew 30.5% from the year-ago value to $1.29 billion. Furthermore, the company's adjusted net earnings and adjusted net earnings per share rose 65.8% and 68.4% from the prior year's period to $557 million and $0.32, respectively.
The consensus revenue estimate of $3.34 billion for the fiscal third quarter (ended September 2024) reflects a year-over-year rise of 16.6%. Its EPS for the same period is expected to increase 31.4% from the prior year to $0.32. Moreover, the company has surpassed the consensus EPS estimates in all four trailing quarters.
GOLD's stock has surged 23% over the past six months and 30.8% over the past nine months to close the last trading session at $20.32.
GOLD's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Sentiment and Quality. GOLD is ranked #10 out of 42 stocks within the Miners – Gold industry.
<a href="https://stocknews.com/stock/GOLD/">Click here</a> to check out additional GOLD ratings for Growth, Value, Stability, and Momentum.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
AEM shares fell $1.78 (-2.02%) in premarket trading Friday. Year-to-date, AEM has gained 63.40%, versus a 23.01% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/aem-gold-au-3-gold-stocks-to-hedge-against-market-uncertainty-45021328/>3 Gold Stocks to Hedge Against Market Uncertainty</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Stocks to Hedge Against Market Uncertainty

Barrick Gold denies Mali government claims it breached agreement

The gold industry is well-poised to reap rewards from robust demand and expanding application. Also, gold stocks provide an indirect way to hedge against inflation, as they tend to perform relatively well when inflation is high and economic uncertainty increases. So, quality gold mining stocks Agnico Eagle Mines (AEM), Barrick Gold (GOLD), and Kinross Gold (KGC) could be ideal investments. Continue reading… Inflation is constantly among the major concerns in the U.S. economy, weakening the consumers' spending power. Also, current geopolitical tensions and upcoming elections are spurring further turmoil in the market. Amid this, investors generally incline more towards resilient asset classes like gold to hedge against inflation and market downtrends.
Against this backdrop, investors could consider buying fundamentally sound gold mining stocks Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>), Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), and Kinross Gold Corporation (<a href="https://stocknews.com/stock/KGC/">KGC</a>) as an inflation hedge in 2024.
During September 2024, <a href="https://www.statista.com/statistics/273418/unadjusted-monthly-inflation-rate-in-the-us/#:~:text=The%20annual%20inflation%20rate%20in,has%20weakened%20in%20recent%20years.">the consumer price index was up by 2.4%</a> as compared to September 2023. The inflation levels have been severely concerning since 2022 because of COVID-19, supply chain restraints, and the Russian invasion of Ukraine.
Amid this, demand for metals and minerals has seen strong growth in recent periods, owing to increasing production activities, improving efficiency through technologies, and rapid economic growth. Also, as the election season is approaching, the market is expected to undergo higher volatility, urging investors to lean towards resilient investment alternates like Gold.
For a long time, gold has remained a safe haven asset for its historical resilience, price appreciation, and use in the form of jewelry and as an investment. Central bank gold purchasing and increasing use of gold in technology are clear indicators of the same.
During the second quarter, <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024">Central Bank net gold buying surged by 6%</a> year-over-year at 183 tonnes for portfolio protection and diversification, while gold used in technology jumped 11% year-over-year with recent uptrends in Artificial Intelligence (AI). Also, escalating geopolitical tensions and lower U.S. interest rates are increasing the appeal of yellow metal in the market.
Considering the industry's conducive trends, let's delve into the fundamentals of the top three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, starting with the third choice.
Stock #3: Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>)
Headquartered in Toronto, Canada, AEM is engaged in the exploration, development, and production of precious metals. Its mines are located in Canada, Australia, Finland, and Mexico, and they have exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.
On October 25, AEM agreed to subscribe to 33,869,939 units of ATEX Resources Inc. (ATX) at a price of C$1.63 per Unit for a total consideration of US$40,000,000. Each Unit is comprised of one common share of ATEX and one-half of one common share purchase warrant of ATEX.
The investment in ATEX is consistent with AEM's historical practice of strategic equity investments in projects bearing high geological potential, and it offers AEM exposure in an early-stage copper-gold exploration project in Chile, an established mining jurisdiction.
On July 15, AEM entered into a transaction with First Nordic Metals Corp. (FNM) to acquire 27,954,872 common shares of FNM. After the transaction, AEM owned 29,413,166 common shares of FNM, representing approximately 13.25% of the issued and outstanding common shares.
Also, on June 24, AEM acquired an additional 33,821,842 common shares of Maple Gold Mines Ltd. on June 21, 2024, at a price of $0.085 per common share for a total consideration of approximately $2.87 million from several sellers that acquired the common shares in connection with an offering of flow-through common shares issued by Maple.
The share purchase brought AEM's holding to 74,674,257 common shares, representing around 19.9% of the issued and outstanding common shares.
During the second quarter, which ended June 30, 2024, AEM's revenues from mining operations increased by 20.9% from the year-ago value to $2.08 billion. The company's adjusted net income totaled $535.27 million and $1.07 per share, indicating increases of 68.2% and 64.6% from the prior year's period, respectively. Its adjusted EBITDA was $1.18 billion, up 32.9% year-over-year.
Furthermore, the company's <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> rose 86.7% from the year-ago value to $557.24 million.
Analysts expect AEM's revenue and EPS for the third quarter (ended September 2024) to grow 28.7% and 132.7% year-over-year to $2.11 billion and $1.02, respectively. Also, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Over the past six months, AEM's stock has surged 33.8% and 78% over the past year to close the last trading session at $86.88.
AEM's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
AEM has an A grade for Sentiment and a B for Growth. It is ranked #12 out of 42 stocks in the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry.
To check additional AEM POWR Ratings for Value, Quality, Stability, and Momentum, <a href="https://stocknews.com/stock/AEM/">click here</a>.
Stock #2: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
Based in Toronto, Canada, GOLD is in the exploration, mine development, production, and sale of gold and copper properties internationally. It also explores and sells silver and energy materials. The company holds ownership interests in producing gold mines in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the U.S.
On October 16, GOLD reported preliminary third-quarter production of 943 thousand ounces of gold and 48 thousand tonnes of copper and preliminary third-quarter sales of 967 thousand ounces of gold and 42 thousand tonnes of copper.
The company stated that preliminary third-quarter gold production was in line with the second quarter. Also, a sequential improvement of 23% on continued plant optimization was delivered by Pueblo Viejo, and North Mara had a stronger quarter driven by higher grades.
On October 2, GOLD launched a $2 billion Super Pit project at its Lumwana copper mine, inaugurated by Zambian President Hakainde Hichilema. The Super Pit Expansion is expected to begin construction in 2025. Upon completion, the project will unlock the potential to transform Lumwana into a long-life, high-yielding, top-25 copper producer and a Tier 1 copper mine.
The development could grow GOLD's copper output, strengthen its asset base, and support its long-term growth in the copper market.
GOLD's revenues for the second quarter, which ended June 30, 2024, increased 11.6% year-over-year to $3.16 billion. The company's attributable EBITDA grew 30.5% year-over-year to $1.29 billion. Its adjusted net earnings came in at $557 million and $0.32 per share, up 65.8% and 68.4% from the year-ago value, respectively.
Analysts expect GOLD's revenue and EPS for the third quarter (ended September 2024) to increase 16.6% and 31.4% year-over-year to $3.34 billion and $0.32, respectively. Also, the company topped the consensus EPS estimates in all of the trailing four quarters.
Over the past six months, the stock has surged 14.8% and 18.3% over the past year to close the last trading session at $19.61.
GOLD's robust outlook is reflected in its POWR Ratings. The stock has an overall grade of B, translating to a Buy in our proprietary rating system.
The stock has a B grade for Sentiment and Quality. It is ranked #10 among the 42 stocks within the B-rated Miners - Gold industry.
<a href="https://stocknews.com/stock/GOLD/">Click here</a> to check other GOLD ratings (Growth, Value, Stability, and Momentum).
Stock #1: Kinross Gold Corporation (<a href="https://stocknews.com/stock/KGC/">KGC</a>)
Headquartered in Toronto, Canada, KGC acquires, explores, and develops gold properties. The company operates several mines consisting of the Fort Knox mine and the Manh Choh project in Alaska, the Round Mountain and the Bald Mountain mines in Nevada, the U.S., the Paracatu mine in Brazil, and the La Coipa and the Lobo-Marte project in Chile.
On September 10, KGC completed a Preliminary Economic Assessment for the Great Bear project, which supports its strategy to acquire a top-tier, high-margin operation in a stable jurisdiction with robust infrastructure. The project is expected to produce over 500,000 ounces per year in the initial 8 years, achieving an all-in-sustaining cost (AISC) of approximately $800 per ounce.
During the second quarter that ended June 30, 2024, KGC's metal sales increased 11.6% year-over-year to $1.22 billion. The company's operating earnings grew 25.4% from the year-ago value to $298.30 million. Also, adjusted net earnings attributable to common shareholders stood at $174.70 million, up 4.2% year-over-year, while its adjusted EPS was $0.14 for the period.
Also, the company's attributable free cash flow increased 33.9% year-over-year to $345.90 million.
Analysts expect KGC's revenue and EPS for the third quarter (ending September 2024) to increase 10.2% and 32.4% year-over-year to $1.22 billion and $0.16, respectively. Furthermore, it has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Shares of KGC have gained 63.8% over the past six months and 72% over the past year to close the last trading session at $8.91.
KGC's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
KGC has a B grade for Quality, Growth, and Sentiment. It is ranked #6 out of 42 stocks in the same industry.
To check other POWR Ratings of KGC for Momentum, Value, and Stability, <a href="https://stocknews.com/stock/KGC/">click here</a>.
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AEM shares were unchanged in after-hours trading Monday. Year-to-date, AEM has gained 61.23%, versus a 23.35% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/aem-gold-kgc-3-top-gold-mining-stocks-as-inflation-hedge-in-2024/>3 Top Gold Mining Stocks as Inflation Hedge in 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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