Latest news with #BarrickGoldCorporation
Yahoo
6 days ago
- Business
- Yahoo
Gold price today, Wednesday, June 4, 2025: Gold edges up ahead of May jobs report
Gold (GC=F) futures opened at $3,377.80 per ounce Wednesday, 0.8% above Tuesday's close of $3,350.20. The price of gold futures has been moving closer to $3,400 since Monday following reports of new trade tensions between the U.S. and China. President Donald Trump's changing stance on tariffs has contributed to gold's gradual rise this year, as many investors favor safer assets amid an uncertain economic outlook. So far, U.S. inflation and jobs data have not changed meaningfully since the new tariffs were announced in early April. The Bureau of Labor Statistics will release the May jobs report on Friday, June 6. Lower-than-expected jobs performance could send the price of gold higher. The opening price of gold futures on Wednesday is up 0.8% from Tuesday's close of $3,350.20. Wednesday's opening price marks a gain of 2.6% over the past week, compared to the opening price of $3,293.60 on May 28. In the past month, the gold futures price has risen 4.3% compared to the opening price of $3,239.90 on May 2. In the past year, gold is up 44% from the opening price of $2,347.50 on June 4, 2024. Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria. As we've been saying all week, investing in gold is a four-step process, and today, we'll explore step 3, choosing a form. Once you define your target gold allocation, you must choose a form of gold to hold. Your three options are: Physical gold Gold mining stocks Gold ETFs Physical gold includes jewelry, gold bars, and gold coins. The advantages of physical gold include: Readily accessible for use. If you keep your physical gold at home, it is easily available for you to use as a medium of exchange in an economic emergency. No added volatility or ongoing fees. Gold mining stocks tend to rise and fall with gold prices, and business-related factors enhance their volatility. Gold ETFs charge administrative fees in the form of expense ratios. Learn more: Take a deeper dive into the gold sector The disadvantages of physical gold include: Risk of theft or loss. Physical gold must be properly secured. Whether you store it in your home or with a depository, gold can be stolen. Lower liquidity. Physical gold is less liquid than stocks or ETFs. If you are not using the gold as a medium of exchange, you may need to locate a dealer and pay a markup on the sale. Owning shares in gold mining stocks provides indirect gold exposure. The advantages of mining stocks over physical gold include: Greater liquidity. Large-cap gold mining stocks like Barrick Gold Corporation (GOLD) and Franco-Nevada Corporation (FNV) generally enjoy a narrow bid-ask spread, which is a sign of liquidity. The bid-ask spread is the difference between what buyers will pay and what sellers will accept. Easy to store. Stocks live in your brokerage account and do not consume physical space. In normal times, this is an advantage. In an economic catastrophe, this could be a disadvantage if brokers or the stock market are temporarily shut down. Learn more: The top performing companies in the gold industry The disadvantages of owning gold mining stocks include: Greater volatility. Since 2000, gold mining stocks have risen and fallen faster than gold spot prices. And in recent years, gold mining stocks have trended down even as gold has gained value. No utility as a medium of exchange. Gold mining stocks can appreciate, but they have no direct utility as a medium of exchange. Gold ETFs are funds that invest in gold mining stocks or physical gold. Their advantages include: Easy to store. Like gold mining stocks, ETF shares are essentially digital assets with no storage requirements. Greater liquidity. Shares of the most popular gold ETFs, like SPDR Gold Shares ($GLD), are heavily traded which implies good liquidity. Tied directly to gold prices. ETFs backed by physical gold can be less volatile than gold mining stocks or gold mining ETFs. The disadvantages of gold ETFs include: Fund fees. Funds charge fees, which dilute returns over time. For context, the expense ratio of SPDR Gold Shares is 0.40%. This translates to $4 in fees annually for every $1,000 invested. No utility as a medium of exchange. As with gold mining stocks, you probably cannot use ETF shares to trade for food in an economic emergency. Whether you're tracking the price of gold since last month or last year, the price-of-gold chart below shows the precious metal's steady upward climb in value. Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years. In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage. The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold's January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase. If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000. Tim Manni edited this article.
Yahoo
27-04-2025
- Business
- Yahoo
Jim Cramer on Barrick Gold Corporation (GOLD): ‘I Stay A Believer'
We recently published an article titled . In this article, we are going to take a look at where Barrick Gold Corporation (NYSE:GOLD) stands against the other stocks Jim Cramer recently discussed. During a recent episode of Mad Money, Jim Cramer offered his perspective on the day's market rally as he delved into the impact of the ongoing dynamic between President Donald Trump and Federal Reserve Chair Jerome Powell. 'All day, I heard that today's rally was just a bear market rally, okay? That it was a phony spike, and the market will go right back down the moment the president posts that there'll be no compromise on tariffs. Who knows, maybe Fed Chief Jay Powell should be deported.' READ ALSO: Jim Cramer Got These 10 Stocks All Wrong and However, Cramer pointed out that the tone shifted significantly just after the market closed. In his words, 'We get incredible news that is sure to drive this market higher.' The news came directly from the President, who clarified that he had no intention of firing Powell, a rumor that Cramer identified as a major factor in the prior day's market slide. Trump's statement, 'Never did, never will,' regarding any plans to remove Powell effectively erased the cloud of uncertainty that had been hanging over the markets. Given this reversal, Cramer questioned whether the rally could still be called a bear market bounce. In his view, it now looked like something more substantial. He explained that real recoveries are often mischaracterized at first. According to Cramer, they typically begin with what appear to be bear market rallies, short-lived, suspicious upticks that many investors brush off due to repeated disappointments in the past. He stressed that the early stages of genuine market turnarounds are often marked by disbelief and hesitation, with only the boldest or most reckless traders recognizing their potential early on. He added: 'Now look, just because the President doesn't want a constitutional crisis and is going to keep Powell doesn't mean we have more to go on. For example, there's been no sign of change from the administration on the trade wars.' For this article, we compiled a list of 13 stocks that were discussed by Jim Cramer during the episode of Mad Money on April 22, 2024. We then calculated their performance from April 22nd, 2024, market close to April 23rd, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey's Q4 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them. Please note that this article mentions Jim Cramer's previous opinions and may not account for any changes to his opinions regarding the stocks that are mentioned. It is primarily an examination of how his previously provided opinions have panned out. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A miner examining yellow gold ore in a mine shaft, symbolizing the company's exploration discussed Barrick Gold Corporation (NYSE:GOLD) in a one-on-one with CEO Mark Bristow, during a time when gold prices were surging but gold miners weren't getting any love from the market. Cramer pushed back on Wall Street's skepticism, emphasizing Barrick's cost discipline and long-term production outlook: 'In the last few months, the price of gold has just skyrocketed, but the stocks—the gold miners—they really haven't kept up at all. Take Barrick Gold, the Canadian producer of gold and copper, that's one of the best operators in the industry. While gold prices are up 13% year-to-date, Barrick's stock is actually down 9%. That's because Wall Street's been very worried about higher production costs, but as I mentioned a few weeks ago, the stock is trading as though nobody believes these higher gold prices can stick. […] Over the past year, the stock has gained 14.20%. When asked about it on April 21st, Cramer reiterated that he likes gold stocks, saying: 'A gold company is, I mean, I hate to just say this because it really doesn't take a weatherman to know which way the wind blows, does it? But gold, I think, is going higher still. And Barrick Gold has a lot more room to run. I think it's doing better. Like, you know, I wish they weren't so far flung. Agnico's doing better than they are, but I think GOLD is a good place to be.' Overall GOLD ranks 3rd on our list of the stocks Jim Cramer recently discussed. While we acknowledge the potential of GOLD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GOLD but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
25-04-2025
- Business
- Yahoo
Barrick Gold Corporation (GOLD): Among the Best Precious Metals Stocks to Buy According to Analysts
We recently published a list of . In this article, we are going to take a look at where Barrick Gold Corporation (NYSE:GOLD) stands against other best precious metals stocks to buy according to analysts. Gold prices set new records in early 2025, driven by growing interest in gold as a safe haven asset amid rising tariffs and trade wars between the United States and China. The precious metal exceeded $3,000/oz recently. Lately, gold is acting both as a hedge against inflation and a competitor to yield-earning assets like the US Treasurys. This has created what analysts call a 'smile profile,' where gold tends to go up whether US yields rise or fall. Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan, commented: 'We maintain our multi-year bullish outlook on gold. From a macro perspective, a universal tariff scenario would likely supercharge the broad price effects for precious metals. Boosted economic growth concerns and higher inflation risks could continue to fuel strong investor demand for gold.' Similarly, Jim Wyckoff, a senior analyst at Kitco Metals, said on April 15: 'Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There's still safe-haven demand.' In line with that, European private banking firm Commerzbank wrote in a note to investors: 'The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the U.S. currency's status as a safe asset – gold is likely to be an alternative for many USD investors.' Goldman Sachs has lifted its gold price forecast from $3,300 to $3,700 per ounce by the end of 2025. This forecast is supported by higher central bank purchases and increased ETF inflows amid growing global economic uncertainty. President Trump's unpredictable trade policies are the basis for this market upheaval. While gold remains a haven in volatile times, it lacks income-generating potential and incurs storage costs. Still, mining stocks are also gaining appeal, with lower energy costs boosting profits. According to the Silver Institute, the silver market is moving towards its fifth consecutive year of a supply deficit in 2025, with demand exceeding supply again. Industrial use, especially in green tech, electric vehicles, and electronics, is driving much of this demand and is expected to reach a new record this year. Prices also rebounded in early 2025, partly due to growing uncertainty around President Trump's potential tariff policies, which have resulted in more short covering and deliveries of silver into CME warehouses. At the same time, ongoing global and economic concerns have helped push investors back toward safe-haven assets like silver. Still, silver investment has faced some challenges. Ongoing concerns about China's economy have held back demand, and the persistently high gold-to-silver ratio suggests that investors still favor gold. Overall, silver demand is expected to stay steady at around 1.2 billion ounces. While industrial and retail investment will rise, jewellery and silverware demand, especially in India, is expected to fall due to high local prices. For this article, we searched multiple credible websites to compile a large list of US-listed precious metals stocks. Next, we manually searched for the average upside potential of each stock and selected 13 stocks with the highest values. The list below is ranked in ascending order of the upside potential as of April 16. We have also mentioned the hedge fund sentiment as per Insider Monkey's database of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A miner examining yellow gold ore in a mine shaft, symbolizing the company's exploration process. Number of Hedge Fund Holders: 44 Average Upside Potential: 18.72% Barrick Gold Corporation (NYSE:GOLD) is a Canadian mining company based in Toronto that focuses on exploring, developing, and producing gold and copper, but also has interests in silver and other energy materials. Barrick is one of the best metal stocks to monitor. On March 31, Citi analyst Alexander Hacking maintained a Neutral rating on GOLD and raised the price target from $17 to $21. According to the analyst, the company is expected to report Q1 EBITDA of $1.7 billion and an EPS of $0.29, marginally beating estimates. Strong performance from its PV operation and a $500+ rise in gold prices are set to strengthen earnings, with cost inflation largely under control. On April 4, Barrick Gold Corporation (NYSE:GOLD) announced that it is targeting a 30% increase in production by 2030, backed by strong results in 2024, including a 69% increase in net earnings and double the free cash flow from 2023. Significant projects like Pueblo Viejo, Porgera, Reko Diq, and Lumwana are driving growth, especially in copper. The company also repurchased $498 million in shares and remains focused on long-term growth. According to Insider Monkey's fourth quarter database, 44 hedge funds were bullish on Barrick Gold Corporation (NYSE:GOLD), compared to 42 funds in the prior quarter. Jean-Marie Eveillard's was the largest stakeholder of the company, with 46.5 million shares valued at $721.8 million. Overall, GOLD ranks 12th on our list of best precious metals stocks to buy according to analysts. While we acknowledge the potential of precious metals stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GOLD but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
23-04-2025
- Business
- Yahoo
Jim Cramer Sees Room to Run for Barrick Gold (GOLD): 'Gold Is Going Higher Still'
We recently published a list of . In this article, we are going to take a look at where Barrick Gold Corporation (NYSE:GOLD) stands against other stocks on Jim Cramer's radar. On Monday, Mad Money host Jim Cramer drew a parallel to 2011 and argued that what we are seeing is another crisis that feels manufactured, one he believes could be resolved just as easily as it was created, 'with the stroke of a pen,' as he described it. 'Could this be another earnings season that simply doesn't matter because there are bigger forces at work that are going to crush the entire market? It's happened before, back in 2011.' READ ALSO Jim Cramer's Thoughts on These 5 Stocks and Jim Cramer's Game Plan for Next Week: 25 Stocks in Focus Cramer pointed out that the market has opened lower nearly every day, not because of disappointing earnings, those, he said, have largely held up, except in the case of companies with significant exposure to China, which he described as now being a liability for American businesses. He emphasized that the situation is not being driven by corporate fundamentals but by factors outside of earnings. He added: 'At least this time, the problem's about America itself. As the president begins to create a constitutional crisis over the potential firing of Jay Powell while Congress once again deals with the interminable debt crisis, I think we can expect another ratings agency to begin the discussion of a debt downgrade.' According to Cramer, investors should begin to accept the reality of a market that drops every morning, regardless of how strong earnings might be. The dominant forces in the environment, he insisted, are not balance sheets or profit margins. He remarked that the current period will be shaped by discussions around tariffs and the ongoing threats to remove Jerome Powell from his position. He added: 'Unfortunately, this time, the United States is not a safe haven as other countries appear much more stable and our bonds act squirrelly, almost as if they're anticipating another painful debt downgrade. Ironic. We could get much higher yields because a president wants them to be lower in the worst way. The worst way being to poke fun, to ride, chide, and make life hell for a man who has served our country well, and I think deserves better.' For this article, we compiled a list of 9 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 21. We listed the stocks in ascending order of their hedge fund sentiment as of the fourth quarter of 2024, which was taken from Insider Monkey's database of over 1,000 hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Hedge Fund Holders: 44 A caller asked what Cramer thought of Barrick Gold Corporation (NYSE:GOLD), and he replied: 'A gold company is, I mean, I hate to just say this because it really doesn't take a weatherman to know which way the wind blows, does it? But gold, I think, is going higher still. And Barrick Gold has a lot more room to run. I think it's doing better. Like, you know, I wish they weren't so far flung. Agnico's doing better than they are, but I think GOLD is a good place to be.' Barrick Gold (NYSE:GOLD) explores, develops, produces, and sells gold and copper. The company also explores for silver and energy-related materials and handles their sale. Ariel Investments stated the following regarding the company in its Q4 2024 investor letter: 'Lastly, gold mining company, Barrick Gold Corporation (NYSE:GOLD) fell following an investor day where management reduced five-year guidance for gold production and raised cost estimates. Meanwhile, a dispute with the African government of Mali and associated negative headlines created an overhang on shares. Despite ongoing uncertainty, management remains laser focused on upgrading its mining operations and broadly improving efficiencies amid today's rising prices for precious metals. The company also continues to prioritize capital returns to shareholders via dividends and share repurchases. At current valuation levels, we believe the risk/reward is priced in.' Overall, GOLD ranks 5th on our list of stocks on Jim Cramer's radar. While we acknowledge the potential of GOLD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GOLD but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
GOLD Continues Collaborating With Mali Government to Finalize Deal
Barrick Gold Corporation GOLD has confirmed that it remains committed to working collaboratively with the Government of Mali to finalize an agreement that was fully negotiated and approved by the Ministry of Finance in February the beginning of discussions, Barrick has sought a constructive path forward. In October 2024, it accepted a framework designed to resolve all outstanding disputes and made an $85 million payment as part of the ongoing remains committed to upholding the agreement mutually envisioned by both parties and is ready to resume production without delay. Restarting operations would generate significant revenue for Mali, including tax and royalty payments that contribute meaningfully to the national budget. It would also lead to the dismissal of baseless criminal charges against its employees and secure their release from GOLD, the Mali government's inaction carries serious consequences, both economically and in terms of human impact. The future of one of Mali's most important mining assets—critical to the country's economy—is in jeopardy. Barrick offers the specialized expertise needed to effectively operate this world-class operation. Barrick has urged the Malian government to act in the interest of its people and the national economy by concluding the agreement, which is ready to be shares have gained 21.8% in the past year against a 52% rise of the industry. Image Source: Zacks Investment Research For 2025, Barrick anticipates consolidated attributable gold production in the range of 3.15-3.5 million ounces. All-in sustaining costs (AISC) are projected to be $1,460-$1,560 per ounce for 2025. Cash costs per ounce are forecast to be $1,050-$1,130. The company also expects to see a cost of sales of $1,460-$1,560 per expects a copper production of 200,000-230,000 tons at AISC of $2.80-$3.10 per pound, cash costs per ounce of $1.80-$2.10 and cost of sales of $2.50-$2.80 per pound. Barrick Gold Corporation price-consensus-chart | Barrick Gold Corporation Quote GOLD currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Idaho Strategic Resources, Inc. IDR and ArcelorMittal S.A. MTCarpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 125.6% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Zacks Consensus Estimate for Idaho Strategic Resources' current-year earnings is pegged at 78 cents. IDR, carrying a Zacks Rank #2, surpassed the Zacks Consensus Estimate in three of the trailing four quarters, while missing once, with an average earnings surprise of 77.5%. The company's shares have rallied 98.9% in the past which currently carries a Zacks Rank #2, beat the consensus estimate in three of the trailing four quarters, while missing once. In this time frame, it has delivered an earnings surprise of roughly 4.1%, on average. The company's shares have rallied 6.9% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT) : Free Stock Analysis Report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Barrick Gold Corporation (GOLD) : Free Stock Analysis Report Idaho Strategic Resources, Inc. (IDR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
