The share prices of gold stocks do not directly track the day-to-day price of gold in commodities markets, but their revenues are correlated with gold prices. Investors who own gold stocks aim to benefit from changes in the price of gold without having to own or store physical gold https://www.investorynews.com/ themselves. 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. Investments in gold are seen as a safe haven and a crisis-resistant capital investment.
The strong demand for the stock could be due to a 920.0% EPS growth estimate for this year and 9.8% for next year. 17 Wall Street analysts have issued 12 month price targets for Barrick Gold’s shares. On average, they anticipate the company’s stock price to reach $23.02 in the next year. This suggests a possible upside of 46.0% from the stock’s current price. View analysts price targets for GOLD or view top-rated stocks among Wall Street analysts.
Dundee Precious Metals Inc (DPM.TO)
If you have the space to store gold and want to own a tangible asset, physical gold may be the better choice. However, if you’re simply looking to profit from changes in gold prices, gold stocks may be a better option. Buying and selling physical gold will typically involve much higher transaction costs than buying and selling gold stocks. The stock has a “B” financial health rating from Morningstar, which indicates a strong financial position.
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Their profits rise when gold prices are high and decline when gold is cheap. The stock has the strongest EPS growth forecast on this list, but historical earnings have been erratic, oscillating between losing years and profitable years. Sales have seen overall growth in the last five years but can also be erratic. Barrick Gold’s stock was trading at $18.09 at the beginning of 2024. Since then, GOLD shares have decreased by 12.8% and is now trading at $15.77. MarketBeat has just released its list of 20 stocks that Wall Street analysts hate.
Precious Metals
One 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 https://www.currency-trading.org/ has made a concerted effort to reduce its environmental impact, including investing in renewable energy and water treatment technology. Dividend yield was not a selection factor, but all the stocks on this list except for one pay a dividend.
17 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Barrick Gold in the last year. There are currently 1 sell rating, 4 hold ratings and 12 buy ratings for the stock. The consensus among Wall Street analysts is that investors should “moderate buy” GOLD shares. Because of its properties, gold is also one of the most important industrial raw materials.
- Dividend yield was not a selection factor, but all the stocks on this list except for one pay a dividend.
- Buying and selling physical gold will typically involve much higher transaction costs than buying and selling gold stocks.
- However, gold is used most frequently in the jewelry industry.
- It has a financial health rating of “C” from Morningstar and a healthy solvency ratio.
This can be purchased on the stock exchange and transferred in the same way as a share. So buying gold stocks is a great way for individual investors to get the exposure they need in their portfolios. Forbes Advisor has compiled a list of the best gold stocks that have seen increasing revenue and strong stock performance. Barrick Gold Corp is a global mining company in North America, South America, Africa and Australia. 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.
Combined with its high solvency ratio, Dundee is in good financial health. 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. 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).
Barrick Gold At A Crossroads: Strong Q4 Earnings Clash With Death Cross Signal
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. Do your due diligence, consult with a financial advisor and decide when the time is right for you to purchase gold stocks. It has a financial health rating of “C” from Morningstar and a healthy solvency ratio.
Blue-Chip Stocks for 100% Total Returns by 2025
Today Barrick Gold Corporation (GOLD), the world’s second largest gold mining company in terms of production, posted their Q4 and 2023 full year financial results. Both physical gold and gold stocks have their own advantages and disadvantages. It’s usually recommended to consult a financial advisor before making any financial decision. Gold stocks are public companies that extract, process, finance and trade gold. The best gold stocks on our list above are focused on either gold mining or gold streaming. Harmony has minimal analyst coverage, hence the lack of a five-year EPS forecast.
After doing your due diligence, log into your brokerage account. If you’re looking to hold gold stocks in your portfolio over the long term, you should be mindful of the industry’s volatile nature. Because WPM doesn’t actually mine gold, its earnings tend to be more stable than most gold stocks. Analysts expect marginal increases in yearly EPS over the next five years. This includes a small decrease of 1.8% in 2023 and an expected EPS jump of 14.5% in 2024.
The yellow precious metal is easily workable and conducts electricity and heat. Because of its excellent conductivity, gold is used particularly in the electrical industry. Gold has also been used in dental technology for around 3000 years. However, gold is used most frequently in the jewelry industry. 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.
If you’re serious about purchasing gold stocks, discuss your ideas and strategy with a financial advisor. From your brokerage account, choose the stock you want to buy, the price at which you want to purchase it and how many shares of the stock you wish to own. Once you have decided on these factors, you can purchase the stock. First, research gold companies and decide how much money you intend to invest in gold stocks.
And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. 22 employees have rated Barrick Gold Chief Executive Officer Mark Bristow on Glassdoor.com. Mark Bristow has an approval rating of 79% among the company’s employees.
