オプションチェーンは、Barrick Goldの株式オプションの主要データを様々な行使価格と満期日で表示します。トレーダーはこの情報を使用して、潜在的な取引を分析し、Barrick Goldの市場センチメントを評価します。.

Barrick Gold (NYSE:GOLD) 株価情報, オプションチェーン

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

GOLDEN PROSPECT PREC MTLS by GOLDEN PROSPECT PRECIOUS METALS LTD.

GOLDEN RAPTURE MNG CORP by GOLDEN RAPTURE MNG CORP.

GOLDKEY CORPORATION by GoldKey Corporation

GOLDMAN SACHS ETF ICAV ETF

GOLDMAN SACHS GROUP ORD

GOLDMANSACHS ETF

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

Gold Flora Corp Warrants (15/01/2026)

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

GOLD ROCK HLDGS INC A by Gold Rock Holdings, Inc.

Gold Rock Holdings Inc

Gold Royalty Corp

GOLD SPRNGS RESOURCE CORP by GOLD SPRINGS RESOURCE CORP.

Gold Springs Resource Corp

GOLD TERRA RESOURCE CORP by GOLD TERRA RESOURCE CORP.

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

GOLDEN AGRI-RES UNSP/ADR by Golden Agri-Resources

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

Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) reported quarterly earnings of $0.30 per share which missed the analyst consensus estimate of $0.31 by 3.23 percent. This is a 25 percent increase over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $3.368 billion which missed the analyst consensus estimate of $3.416 billion by 1.42 percent. This is a 17.68 percent increase over sales of $2.862 billion the same period last year.

Earnings

Earnings Misses

News

GOLD

Barrick Gold Q3 2024 Adj. EPS $0.30 Misses $0.31 Estimate, Sales $3.368B Miss $3.416B Estimate

Renowned economist Peter Schiff advised investors to buy gold dips amid concerns over potential inflation following Donald Trump&#8216;s presidential election victory over Kamala Harris.
What Happened: &#8220;The best Trump trade now is buying the dip in gold and gold mining stocks,&#8221; Schiff posted on X. &#8220;Cutting taxes is easy. We know from experience that substantive spending cuts are impossible. Even Reagan couldn&#8217;t do it, despite making greater promises to do so. Trump will make inflation great again.&#8221;
Trump secured 277 electoral votes and 51% of the popular vote against Harris, according to Associated Press figures. 
Major gold mining stocks, including Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and Royal Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>), declined over 2% on Wednesday, while gold spot prices traded at $2,656, down 0.09%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The best <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> trade now is buying the dip in <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> and gold mining stocks. Cutting taxes is easy. We know from experience that substantive spending cuts are impossible. Even Reagan couldn&#39;t do it, despite making greater promises to do so. Trump will make <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> great again.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1854213969382162539?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41794926/trump-white-house-could-unlock-trillion-dollar-ai-potential-for-tesla-says-dan-ives">Trump White House Could Unlock Trillion-Dollar AI Potential For Tesla, Says Dan Ives</a>
Why It Matters: A recent Wall Street Journal survey found <a href="https://www.benzinga.com/news/24/10/41312782/trumps-economic-policies-expected-to-drive-inflation-and-deficits-higher-than-harris-economists-say">that 68% of economists expect higher inflation</a> under Trump&#8217;s economic policies compared to Harris&#8217;s proposals, up from 56% in July. The survey, conducted October 4-8, showed only 12% anticipated higher inflation under Harris.
Trump previously announced plans to appoint Tesla Inc CEO Elon Musk as &#8220;Secretary of Cost-Cutting&#8221; to lead a new government efficiency commission. Speaking at New York&#8217;s Madison Square Garden, Musk claimed he <a href="https://www.benzinga.com/startups/24/11/41704205/elon-musk-says-we-can-cut-2-trillion-out-of-the-harris-biden-budget-and-that-americans-money-is-bein">could reduce federal spending by $2 trillion</a>. The commission would conduct &#8220;a complete financial and performance audit of the entire federal government,&#8221; according to Trump.
Economist Justin Wolfers raised <a href="https://www.benzinga.com/news/24/11/41795320/trumps-20-tariff-plans-could-unleash-wave-of-spending-on-big-ticket-buys-in-holiday-quarter-says-eco">concerns about potential consumer behavior</a>, noting on X: &#8220;I wonder whether we are going to see a burst of spending on consumer durables in Q4, as people pull forward spending on big ticket items ahead of the tariffs.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41737614/elon-musks-political-posts-garner-17b-views-since-endorsing-trump-outpace-all-political-campaign-ads">Elon Musk&#8217;s Political Posts Garner 17B Views Since Endorsing Trump, Outpace All Political Campaign Ads Combined On X: Study Reveals 87 Misleading Claims With 2B Views</a></li>
</ul>
Image Via Unsplash
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Equities

Markets

RGLD

Peter Schiff Says 'Cutting Taxes Is Easy' But Reducing Spending Not So Simple, Warns Of Inflation Spike Under Trump

Whales with a lot of money to spend have taken a noticeably bullish stance on Barrick Gold.
Looking at options history for Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $60,075 and 7, calls, for a total amount of $401,005.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $20.0 for Barrick Gold during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 10210.17 with a total volume of 6,992.00.
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 $15.0 to $20.0 over the last 30 days.
<h3>Barrick Gold Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730753132_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>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$0.58</td>
<td>$0.56</td>
<td>$0.58</td>
<td>$20.00</td>
<td>$115.4K</td>
<td>11.5K</td>
<td>2.2K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.15</td>
<td>$5.05</td>
<td>$5.05</td>
<td>$15.00</td>
<td>$63.1K</td>
<td>14.2K</td>
<td>184</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.05</td>
<td>$3.95</td>
<td>$4.05</td>
<td>$17.00</td>
<td>$58.7K</td>
<td>7.5K</td>
<td>271</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$0.22</td>
<td>$0.21</td>
<td>$0.22</td>
<td>$20.00</td>
<td>$54.9K</td>
<td>24.5K</td>
<td>3.0K</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.05</td>
<td>$3.95</td>
<td>$4.05</td>
<td>$17.00</td>
<td>$44.9K</td>
<td>7.5K</td>
<td>112</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>Trading volume stands at 12,506,357, with GOLD's price down by -1.08%, positioned at $18.84.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 3 days.</li>
</ul>
<h3>What Analysts Are Saying About Barrick Gold</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $22.5.
Turn $1000 into $1270 in just 20 days?
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>. 
&#x2A; In a cautious move, an analyst from UBS downgraded its rating to Neutral, setting a price target of $22. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Barrick Gold, targeting a 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.

Options

Barrick Gold Options Trading: A Deep Dive into Market Sentiment

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.

Downgrades

Price Target

Analyst Ratings

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.

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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<li><a href="https://www.benzinga.com/exclusives/24/10/41405659/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a></li>
</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.
Read Next:
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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:
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<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>

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

Hecla Mining names Barrick exec Rob Krcmarov as CEO

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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<hr />
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>

3 Top Gold Mining Stocks as Inflation Hedge in 2024

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.
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<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: Attractive Entry Point Before Q3 Results

Gold is a stable investment now due to its role as a safe-haven asset during economic uncertainty, rising demand, industrial use, and growth, bolstered by central bank purchases and interest rate cuts. Therefore, investors should consider investing in top gold stocks such as Newmont (NEM), Barrick Gold (GOLD), and Agnico Eagle Mines (AEM). Read more... Gold has long been considered a reliable store of value during times of economic uncertainty, such as geopolitical tensions or inflation. As a safe-haven asset, it often performs well alongside the U.S. dollar, offering protection from market volatility.
To take advantage of this trend, investing in strong gold stocks like Newmont Corporation (<a href="https://stocknews.com/stock/NEM/">NEM</a>), Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), and Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>) can be a smart strategy as demand for safe-haven assets rises.
Unlike other assets that generate returns through interest rates or dividends, gold's value remains independent of these factors, making it particularly appealing during uncertain times when other investments may face volatility. Beyond its financial value, gold holds cultural significance and is used in various industries, including electronics, healthcare, semiconductors, and space exploration.
This year, gold has reached multiple all-time highs, and according to Goldman Sachs Research, it is expected to rise even further. With central banks in emerging markets increasing their gold purchases, the precious metal is forecasted to reach <a href="https://www.goldmansachs.com/insights/articles/gold-predicted-to-climb-higher-than-expected-as-records-shatter">$3,000 per troy ounce</a> by the end of 2025.
Furthermore, macro uncertainties are driving up demand for gold as a hedge against instability. With the Fed expected to <a href="https://www.reuters.com/markets/us/tight-credit-conditions-add-case-fed-interest-rate-cut-2024-11-06/">cut interest rates</a> on November 7, 2024, due to declining inflation, cooling labor markets, and tight credit conditions, investors are flocking to gold to preserve wealth. Moreover, continued buying during price corrections further strengthens market stability.
Considering these conducive trends, let's analyze the fundamental aspects of the three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> picks, beginning with the third choice.
Stock #3: Newmont Corporation (<a href="https://stocknews.com/stock/NEM/">NEM</a>)
NEM engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
On October 29, 2024, NEM commissioned its first battery-electric large mining truck, the Cat 793 XE, at its Cripple Creek and Victor mine, advancing its commitment to sustainable mining and emissions reduction.
On October 15, 2024, NEM and MKS PAMP launched a traceable 1oz Lady of Liberty gold bar, exclusively using Newmont-mined gold and refined by MKS PAMP in Switzerland. This initiative provides transparency and assures consumers of the gold's origin through Provenance technology.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/g/gross_profit_margin.asp">gross profit margin</a>, NEM's 38.58% is 34.9% higher than the 28.59% industry average. Likewise, its 35.37% trailing-12-month EBITDA margin is 115.7% higher than the 16.40% industry average. Also, its 6.05% trailing-12-month Return on Total Capital is 23.1% higher than the 4.91% industry average.
NEM's sales for the fiscal third quarter ended September 30, 2024, rose 84.7% year-over-year to $4.61 billion. Its adjusted EBITDA increased 110.8% over the prior-year quarter to $1.97 billion. Also, the company's adjusted net income and adjusted net income per common share attributable to NEM's stockholders were $936 million and $0.81, reflecting increases of 227.3% and 125% year-over-year, respectively.
Analysts expect NEM's EPS and revenue for the quarter ending December 31, 2024, to increase 115.9% and 29.8% year-over-year to $1.08 and $5.14 billion, respectively. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past nine months, NEM's stock has gained 32.2% to close the last trading session at $44.08.
NEM's promising outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a B grade for Growth. Within the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry, it is ranked #26 out of 42 stocks. To see NEM's ratings for Value, Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/NEM/">click here</a>.
Stock #2: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
Based in Toronto, Canada, GOLD engages in the exploration, mine development, production, and sale of gold and copper properties internationally. The company also explores and sells silver and energy materials. It holds ownership interests in gold-producing mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.
On October 2, 2024, GOLD announced the official launch of the Super Pit Expansion at its Lumwana copper mine in Zambia, which aims to double copper production and transform Lumwana into a top 25, Tier One copper producer. The $2 billion project will support local capacity development, create thousands of jobs, and stimulate regional growth.
In terms of the trailing-12-month levered FCF margin, GOLD's 8.53% is 68.1% higher than the 5.07% industry average. Similarly, its 44.69% trailing-12-month EBITDA margin is 172.5% higher than the industry average of 16.40%. Its 24.73% trailing-12-month EBIT margin is 129.4% higher than the industry average of 10.78%.
In the second quarter, which ended June 30, 2024, GOLD's revenues grew 11.6% year-over-year to $3.16 billion. Similarly, the company's attributable EBITDA increased 30.5% year-over-year to $1.29 billion. Its adjusted net earnings were $557 million, or $0.32 per share, up 65.8% and 68.4% from the year-ago values, respectively.
Street expects GOLD's EPS and revenue for the quarter ended September 30, 2024, to increase 31.8% and 16.6% year-over-year to $0.32 and $3.34 billion, respectively. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past nine months, GOLD's stock has gained 19.4% to close the last trading session at $18.11.
GOLD's POWR Ratings reflect its bright outlook. It has an overall rating of B, translating to a Buy in our proprietary rating system.
It has a B grade for Quality. It is ranked #11 in the same industry. To see GOLD's Growth, Value, Momentum, Stability, and Sentiment ratings, <a href="https://stocknews.com/stock/GOLD/">click here</a>.
Stock #1: Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>)
Headquartered in Toronto, Canada, AEM is a gold mining company involved in the exploration, development, and production of precious metals. It explores for gold, with mines located in Canada, Australia, Finland, and Mexico, and exploration and development activities across Canada, Australia, Europe, Latin America, and the United States.
In terms of the trailing-12-month Return on Total Capital, AEM's 6.70% is 36.3% higher than the 4.91% industry average. Its 23.75% trailing-12-month levered FCF margin is 368% higher than the 5.07% industry average. In addition, its 21.51% trailing-12-month Capex / Sales is 174.2% higher than the 7.84% industry average.
During the third quarter, which ended September 30, 2024, AEM's revenues from mining operations increased by 31.2% from the year-ago value to $2.16 billion. The company's adjusted net income was $572.58 million and $1.14 per share, indicating increases of 167.3% and 159.1% from the prior year's period, respectively. Its adjusted EBITDA was $1.26 billion, up 63.5% year-over-year.
For the quarter ending December 31, 2024, AEM's EPS and revenue are expected to grow 110.4% and 21.8% year-over-year to $1.20 and $2.14 billion, respectively. It surpassed the EPS estimates in each of the trailing four quarters. Over the past nine months, AEM's stock has gained 75.1% to close the last trading session at $83.14.
AEM's POWR Ratings reflect solid fundamentals. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It is ranked #9 in the Miners – Gold industry. It has an A grade for Sentiment and a B for Growth and Quality. <a href="https://stocknews.com/stock/AEM/">Click here</a> to access additional ratings for AEM's Value, Momentum, and Stability ratings.
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NEM shares were trading at $44.43 per share on Wednesday afternoon, down $1.57 (-3.41%). Year-to-date, NEM has gained 9.37%, versus a 25.59% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/nem-aem-gold-3-gold-stocks-to-buy-as-safe-haven-demand-grows/>3 Gold Stocks to Buy as Safe-Haven Demand Grows</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Stocks to Buy as Safe-Haven Demand Grows

Barrick Gold declares $0.10 dividend

Reports Q3 revenue $3.37B, consensus $3.42B. Gold production was in line with that of the previous quarter while copper production was up 12% quart...

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