#1 - Barrick Gold (NYSE:GOLD)
Barrick Gold Corp. (NYSE: GOLD) is one of the world’s largest gold miners, with operations on four continents. The company’s flagship mine is the Cortez Gold Mine in Nevada, which has been in operation for over 50 years.
One caveat about investing in gold miners is that gold mining companies increase production when gold’s value increases. Much like oil companies, gold miners, such as Barrick Gold have to balance maximizing current mining operations with strategic expansion projects that can fuel future growth.
GOLD stock is up 14.9% in 2024. That's nice, but it’s not 33%. And it’s bucking the trend that happens with gold stocks. That is, when gold is up, mining stocks are usually up more. However, investors can get a dividend that currently pays 1.97%. And although the payout can vary, Barrick has managed to increase its dividend at an annualized growth rate of around 8.8% for the last three years.
About Barrick Gold
Barrick Gold Corporation is a sector-leading gold and copper producer. Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.
Read More - Current Price
- $17.90
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $23.90 (33.5% Upside)
