Barrick Gold Corporation GOLD Stock Price, Quote & News
One good quarter, however, does not set a trend, and the rest of 2024 will remain challenging. Barrick Gold Corporation operates gold mines in North America, South America, Australia, and Africa. Assets include Nevada Gold Mines, Bulyanhulu, Hemlo, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, and others. Barrick Gold was founded in 1983 and is headquartered in Toronto, Ontario, Canada. Shares of Barrick are rising after the gold-mining company reported a strong second quarter. According to 9 analysts, the average rating for GOLD stock is “Strong Buy.” The 12-month stock price forecast is $22.89, which is an increase of 14.25% from the latest price.
As a result, the global quantity of gold is steadily increasing. The highest gold reserves are located in the USA (around 8.133 metric tons/287 million ounces). Germany has the second highest stocks of gold (3,417 metric tons /120 million ounces) followed by the International Monetary Fund with 3,217 metric tons /113 million ounces.
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However, if gold is traded by way of a physically deposited purchase in the form of securities, trading or stock market fees must be paid. It is possible to invest in the precious metal on the stock exchange or through brokers in the form of gold certificates, gold funds or gold ETFs, without receiving any physical gold. Another form of investing in gold is Xetra-Gold, a no-par loan, which is denominated in gold holdings. This can be purchased on the stock exchange and transferred in the same way as a share. Another risk for investors in Barrick Gold is the potential for political instability in regions where the company operates. Many of the company’s mines are in countries with less stable political environments, such as the Democratic Republic of Congo and Argentina.
Barrick Continues to Invest in Mali
One https://forexanalytics.info/ of the biggest challenges for the company has been managing its environmental impact. The mining industry is notorious for its effect on the environment, with mines often leaving behind polluted water, soil and air. In recent years, Barrick Gold has made a concerted effort to reduce its environmental impact, including investing in renewable energy and water treatment technology.
- One potential risk for investors in Barrick Gold is the company’s reliance on a few critical mines for most of its production.
- Investing in Barrick Gold can be a way for investors to gain exposure to the gold mining industry, which has historically been a haven for investors during economic uncertainty.
- Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
- Barrick Gold shares jumped after the US CPI report amid rising gold prices.
- Barrick Gold is a geographically diverse producer, investing in their own projects and seeking distressed assets for growth.
Watch These Barrick Gold Price Levels As Stock Regains Luster After Earnings Beat
Mark Bristow, Barrick Gold CEO, joins ‘Money Movers’ to discuss the price action in gold, expectations for risks, and more. © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Upgrade to MarketBeat All Access to add more stocks to your watchlist.
The company primarily focuses on the exploration and production of gold and copper, with additional interests in silver and other minerals. Founded in 1983, Barrick Gold has become one of the largest gold mining companies in the world, with a market capitalization of over $45 billion as of February 2023. Investments in gold are seen as a safe haven and a crisis-resistant capital investment.
Gold has also been used in dental technology for around 3000 years. This line of business accounts for around 75 per cent of the gold worked. Apart from the Antarctic, where mining is not allowed due to international regulations, the precious metal is mined on all continents. With a market share of 16 per cent, South Africa is the most important producer of gold. As a significant player in the mining industry, Barrick Gold has faced many challenges over the years.
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It is possible to invest in the yellow precious metal both in the form of securities and through a physical purchase. Gold in its physical form can be purchased from banks, coin and precious metal dealers as bars or bullion coins. However, the safe keeping of gold at banks usually gives rise to considerable costs which are not incurred when securities are traded.
I share three picks that are likely to outperform and even potentially benefi… Barrick Gold exceeded Q2 expectations with revenues of $3.16 billion, up 11% YoY, and non-GAAP earnings of $0.32/share. Barrick Gold’s stock was trading at $18.09 at the beginning of 2024. Since then, GOLD stock has increased by 12.1% and is now trading at $20.28.
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Investing in Barrick Gold can be a way for investors to gain exposure to the gold mining industry, which has historically been a haven for investors during economic uncertainty. Despite these challenges, Barrick Gold has continued to be a profitable company, with strong financial performance over the years. The profitability was partly due to the rising price of gold, driven higher by economic uncertainty and geopolitical tensions. While the price of gold can be volatile, many analysts believe it will continue to be a haven for investors in times of economic uncertainty.
The price of gold has virtually experienced a surge in recent years. After the price of gold passed the mark of 1,000 US dollars per ounce for the first time in March 2008, by the end of 2011 it had already reached 1,600 US dollars per ounce. Barrick Gold (GOLD) shares surged more than 9% on Monday after the Canada-based gold miner posted better-than-expected second-quarter results, driven by buoyant gold prices and robust production. After a strong Q earnings report, Barrick Gold’s share price skyrocketed.
In addition to environmental concerns, Barrick Gold has also faced challenges related to its social impact. For example, mining companies often operate in remote regions where local communities may depend on the land for their livelihoods. Barrick Gold shares jumped after the US CPI report amid rising gold prices. Gold is in a strong bull market, very close to all-time highs as it keeps pace with the strong-performing S&P 500. Global stocks of gold have continuously increased in recent decades and are currently at their highest level. This is also due to the fact that gold, unlike other raw materials, is virtually indestructible and is not consumed.