GOLD Stock Summary and Trading Ideas (Barrick Gold Common (Bc) | NYSE:GOLD)

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.

Barrick Gold Common (Bc) trades on the NYSE stock market under the symbol GOLD.

As of April 19, 2024, GOLD stock price climbed to $17.10 with 21,898,654 million shares trading.

GOLD has a beta of 0.45, meaning it tends to be less sensitive to market movements. GOLD has a correlation of 0.02 to the broad based SPY ETF.

GOLD has a market cap of $30.02 billion. This is considered a Large Cap stock.

Last quarter Barrick Gold Common (Bc) reported $3 billion in Revenue and $.27 earnings per share. This fell short of revenue expectation by $-91 million and exceeded earnings estimates by $.06.

In the last 3 years, GOLD stock traded as high as $26.07 and as low as $13.01.

The top ETF exchange traded funds that GOLD belongs to (by Net Assets): GDX, DFIV, GNR, DFIC, IGE.

GOLD stock has underperformed the market in the last year with a return of -9.9%, while SPY returned +21.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in GOLD shares. However, GOLD has outperformed the market in the last 3 month and 2 week periods, returning +10.8% and -1.7%, while SPY returned +4.3% and -3.5%, respectively. This indicates GOLD has been having a stronger performance recently.

GOLD support price is $16.58 and resistance is $17.38 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GOLD stock will trade within this expected range on the day.