#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 for the yellow metal. However, gold isn’t going to be the only metal that’s expected to shine in the coming years. One of those is copper.
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.
Large miners like Barrick have the resources to explore and develop larger, more profitable projects. One of the company’s current projects, the Reko Dig copper and gold project in Pakistan will be a 50/50 joint venture with 50% of the project being owned by the governments of Pakistan and the province of Balochistan. When the project becomes operational in 2028, Barrick believes it can generate $74 billion in free cash flow (FCF) over the following 37 years.
Mining stocks are notoriously cyclical, which you can see in Barrick’s historical stock price. However, analysts are forecasting earnings growth of over 30% in 2025, 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.
Read More - Current Price
- $15.68
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $24.45 (56.0% Upside)
