#4 - Barrick Gold (NYSE:GOLD)
Gold was one of the best-performing asset classes of 2024, and many analysts believe this is just the beginning of a multi-year run. However, gold isn’t the only metal poised to shine in the coming years—copper is also expected to play a significant role.
That makes Barrick Gold (NYSE: GOLD) one of the growth stocks to watch closely. The Canadian company is one of the largest global miners of gold and copper.
Major miners like Barrick have the resources to develop large-scale, profitable projects. One such project is the Reko Diq copper and gold venture in Pakistan, a 50/50 joint venture in which the governments of Pakistan and the province of Balochistan own half the stake. When operations begin in 2028, Barrick estimates the project could generate $74 billion in free cash flow over the subsequent 37 years.
Mining stocks are notoriously cyclical, as Barrick’s historical stock price shows. However, analysts are forecasting earnings growth of over 30%, which is a bullish reason to own GOLD stock.
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.
More about Barrick Gold- Current Price
- $17.74
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $23.75 (33.9% Upside)
