Short interest for Barrick Gold gives investors a sense of the degree to which investors are betting on the decline of Barrick Gold's stock. Short interest data is updated every two weeks.

Barrick Gold Stock (NYSE:GOLD), Short Interest Report

Barrick Gold

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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 year-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.

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Source: Adrian Day 05/08/2024

Global Analyst Adrian Day looks at quarterly results from a couple of gold majors, as well as mostly positive developments at some others.

Gold Co. Beats Estimates as Panama Goes to the Polls

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Source: <a href="https://www.streetwisereports.com/article/2024/05/08/progress-continues-at-ca-gold-co-s-properties.html?utm_medium=feed">Ben Pirie 05/08/2024</a>
Lake Victoria Gold Ltd. shared an update on its Imwelo and Tembo properties, showcasing the company&#39;s ongoing progress of both projects, according to a note from Atrium Research.
Lake Victoria Gold Ltd. (OTC:LVGLF) provided an update on its Imwelo and Tembo properties on May 8, 2024, highlighting the continued progress of both projects.
Atrium Research analysts Ben Pirie and Nicholas Cortellucci, in a research flash published the same day, maintained their Buy rating and target price of CA$0.45 per share on the company, representing a potential upside of 150%.
&quot;Progress at the Imwelo Project is continuing with the final step before the official transfer of the mining license underway, and other preparatory work at the site is proceeding&quot; the analysts noted. &quot;Barrick Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>) continues to invest substantial capital into the surrounding Tembo licenses, which excites us as LVG will share in Barrick&#39;s exploration success.&quot;
At the Imwelo property, the Tanzanian Fair Competition Commission (FCC) has approved the acquisition of the ML538/2015 from Tanzoz Minerals Limited. The Tanzania Revenue Authority is currently assessing the capital gain tax due on the transaction, with a decision expected shortly. This tax assessment and payment is the final step before the official transfer of the mining license and triggers the second tranche of investment from TAIFA Group.
&quot;LVG stated that it is in advanced stages with a number of debt and equity groups that will fund the construction and development of Imwelo&quot; the analysts highlighted. The company has made significant progress in developing Imwelo, including preparatory earthworks, infrastructure development, and securing the project&#39;s water supply. The construction timeline remains on track, with completion expected approximately 12 months following the closing of the acquisition and financing.
Regarding the Tembo property, Lake Victoria Gold does not plan to perform any major exploration activities for two reasons.
&quot;First, because the Company needs to conserve capital for Imwelo development, and second, Barrick Gold is exploring the grounds surrounding the Tembo property, which is essentially providing LVG with valuable exploration data on the surrounding area at no cost to the company&quot; Pirie and Cortellucci explained.
The partnership with Barrick could see cash payments as high as US$45M for Lake Victoria Gold, contingent on exploration success.
The analysts identified several key catalysts for Lake Victoria Gold, including the Tembo Gold Project maiden resource in Q1 2024, ongoing M&amp;A and 2024 drill results, and key development milestones for the Imwelo project throughout the year.
Pirie and Cortellucci highlighted the company&#39;s path to profitability with Imwelo production expected in H1 2025, strategic partnerships with Barrick and Taifa providing cash, exploration upside across all projects, and motivated management with significant insider ownership as key reasons for their positive view on Lake Victoria Gold.
Important Disclosures:
<ol>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Barrick Gold Corp.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
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Disclosures for Atrium Research, Lake Victoria Gold, May 8, 2024
Analyst Certification Each authoring analyst of Atrium Research on this report certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst&#39;s personal, independent and objective views about any and all of the designated securities discussed (ii) no part of the authoring analyst&#39;s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the research, (iii) to the best of the authoring analyst&#39;s knowledge, she/he is not in receipt of material non-public information about the issuer, (iv) the analyst does not own common shares, options, or warrants in the company under coverage, and (v) the analysts adhere to the CFA Institute guidelines for analyst independence.
About Atrium Research Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. For further information on our team, please visit <a href="https://www.atriumresearch.ca/team" title="https://www.atriumresearch.ca/team">https://www.atriumresearch.ca/team</a>.
General Information Atrium Research Corporation (ARC) has created and distributed this report. This report is based on information we considered reliable; we have not been provided with any material non-public information by the company (or companies) discussed in this report. We do not represent that this report is accurate or complete and it should not be relied upon as such; further any information in this report is subject to change without any formal or type of notice provided. Investors should consider this report as only one factor in their investment decisions; this report is not intended as a replacement for investor&#39;s independent judgment. ARC is not an IIROC registered dealer and does not offer investment-banking services to its clients. ARC (and its employees) do not own, trade or have a beneficial interest in the securities of the companies we provide research services for and does not serve as an officer or Director of the companies discussed in this report. ARC does not make a market in any securities. This report is not disseminated in connection with any distribution of securities and is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. ARC does not make any warranties, expressed or implied, as to the results to be obtained from using this information and makes no express of implied warranties for particular use. Anyone using this report assumes full responsibility for whatever results they obtain. This does not constitute a personal recommendation or take into account any financial or investment objectives, financial situations or needs of individuals. This report has not been prepared for any particular individual or institution. Recipients should consider whether any information in this report is suitable for their particular circumstances and should seek professional advice. Past performance is not a guide for future results, future returns are not guaranteed, and loss of original capital may occur. Neither ARC nor any person employed by ARC accepts any liability whatsoever for any direct or indirect loss resulting from any use of its research or the information it contains. This report contains &quot;forward looking&quot; statements. Forward-looking statements regarding the Company and/or stock&#39;s performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements. Such statements involve a number of risks and uncertainties such as competition, technology shifts, market demand and the company&#39;s (and management&#39;s) ability to correctly forecast financial estimates; please see the company&#39;s MD&amp;A &quot;Risk Factors&quot; Section for a more complete discussion of company specific risks for the company discussed in this report. ARC is receiving a cash compensation from Lake Victoria Gold Ltd. for 12-months of research coverage. ARC retains full editorial control over its research content. ARC does not have investment banking relationships and does not expect to receive any investment banking driven income. ARC reports are primarily disseminated electronically and, in some cases, printed form. Electronic reports are simultaneously available to all recipients in any form. Reprints of ARC reports are prohibited without permission. To receive future reports on covered companies please visit <a href="https://www.atriumresearch.ca/research" title="https://www.atriumresearch.ca/research">https://www.atriumresearch.ca/research</a> or subscribe on our website. The information contained in this report is intended to be viewed only in jurisdictions where it may be legally viewed and is not intended for use by any person or entity in any jurisdiction where such use would be contrary to local regulations or which would require any registration requirement within such jurisdiction.

Progress Continues at CA Gold Co.'s Properties

Source: <a href="https://www.streetwisereports.com/article/2024/05/08/gold-co-beats-estimates-as-panama-goes-to-the-polls.html?utm_medium=feed">Adrian Day 05/08/2024</a>
Global Analyst Adrian Day looks at quarterly results from a couple of gold majors, as well as mostly positive developments at some others.
Franco-Nevada Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnv#NYSE">FNV</a>) reported first-quarter results somewhat above expectations as it looks ahead to production growth of 2.3% this year, driven by new mines on which it holds streams, Greenstone and Tocantinzinho, both ramping up in the second half. Franco&#39;s guidance now excludes Cobre Panama, which it has written off, though opportunities for recovery, either from a mine restart or from an arbitration award, are real. Franco has a rock-solid balance sheet, with $2.3 billion of available capital.
It has an active pipeline of new deals, with a focus on gold, though CEO Paul Brink said they were looking at other resources, including lithium. Most opportunities it is reviewing now are streams on byproducts of base metals producers, with the company seeing somewhat larger opportunities than recently, with opportunities above $300,000.
<h2>Hope for Cobre Panama as Country Votes</h2>
Elections for a new president in Panama are taking place today. Polls have already closed, and the results are expected late tonight. All of the candidates except one are, to differing extents, pro-business. The front runner, Jos&eacute; Mulino, who was the running mate of the popular ex-President Ricard Martinelli &mdash; he dropped out after a court upheld his conviction for money laundering &mdash; is known to support new negotiations with First Quantum to reopen the mine.
However, as Brink noted, the candidates have been mostly circumspect in commenting on what their approach will be, adding that once a new government is in place, he is sure dialog will take place. In addition to the loss of GDP, tax revenue, and jobs from the mine closure and the threat of an international arbitration award, there are also heavy costs to permanently closing the mine, estimated at between $3 billion and $6 billion. Some politicians have suggested that mine owner First Quantum should pay those costs, but that is highly unlikely. All in all, the country stands to lose huge amounts of money if it shuts down the mine permanently, in addition to the credit downgrade and loss of credibility. With top management, a solid balance sheet, and a well-diversified portfolio by asset, operator, geography, and commodity, Franco remains a core holding.
Given the recent price recovery, we are holding, except for new investors who can buy.
<h2>Barrick Can&#39;t Get No Respect</h2>
Barrick Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>) reported first-quarter earnings somewhat better than expected, though of course the company had already pre-released lower production and higher cost guidance. It was a weak quarter, but for Barrick, production usually increases during the year, and the company re-iterated its 2024 guidance, looking for increased production from Pueblo Viejo on the back of the plant expansion as well as the restart of Porgera.
Gold cash costs at $1,051 were up from less than $1,000 in the prior quarter but in line with implied guidance as per-ounce costs increased on lower production. Other costs are under control, and G&amp;A was down.
<h2>Talks With Mali and Company Says &quot;No&quot; to Anglo Bid</h2>
CEO Mark Bristow rejected reports that the Mali government is about to nationalize the Loulo-Gounkoto mine, saying that the government had assured the company, in writing, that it has no intention of expropriating the mine. Bristow said that there were ongoing discussions with the government about &quot;an equitable sharing of benefits.&quot;
A new mining code, introduced in September, exempted existing operations, including Barrick&#39;s mine. Separately, the company announced an exploration earn-in on some land in Jamaica, which Bristow said had geology comparable to that of the Dominican Republic, where Barrick&#39;s large Pueblo Viejo mine is located. Bristow also said the company would not make a bid for AngloAmerican, which has received an offer from BHP, adding that the company had plenty of organic opportunities.
After the results, Barrick stock fell once again, in what I consider an irrational response to the headline numbers, given the production decline had already been announced (and the stock fell on that) as well as the credible reasons for seeing higher production later in the year. Barrick&#39;s higher jurisdictional risk profile is well known, but on most metrics, including the net debt levels, Barrick is superior to major peers.
Buy.
<h2>Pan American Boosts Its Balance Sheet as It Eyes Growth Ahead</h2>
Pan American Silver Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/paas#NYSE">PAAS</a>) has agreed to sell its La Arena mine and the associated La Arena II project in Peru to Zijin Mining for $295 million, with $245 million in cash now and and a contingent payment of $50 million upon production from La Arena II. In addition, Pan American will retain a 1.5% gold NSR royalty on the La Arena II project. The price is considered a good one for Pan American.
The company has been selling certain non-core assets after it purchased Yamana last year, using proceeds to cut debt. It ended the year with $441 million in cash and a total debt of $802 million, some related to construction debt and leases, as well as notes that came with Yamana. There are no maturities until the end of 2027, and with an undrawn $750 million credit facility, Pan American is in good shape.
The company has, however, traditionally operated without debt (other than project debt), and there is potential for additional asset sales, though, as with La Arena, the company is now in no rush and can wait for good prices, particularly since the debt carries low interest rates. The La Colorada Skarn deposit will require major capital, however, and the company is looking for a partner on that project. We continue to like Pan American, with strong management and a broad asset base, as well as growth, not only from La Colorada but from the potential restart of the large Escobal silver mine in Guatemala.
Though the company remains reasonable value, given the 50% move in the stock since the beginning of March, we will hold for now.
<h2>Another Project Comes Back to Lara</h2>
Lara Exploration Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lraxf#OTC">LRAXF</a>) has received back its Curionopolis Iron Project after settling a lawsuit with Vertical Mining. The project, in the Caraj&aacute;s District in northern Brazil, had been optioned to Vertical in 2009, which undertook much exploration and technical work, including putting out a resource estimate, but it defaulted on payments to Lara.
The return of the project is a positive for Lara since it can now look to option or sell it to a new partner, receive payments, and keep a royalty. This is one more example of the value in Lara&#39;s portfolio in addition to the flagship Planalto Copper project, where a resource estimate is expected by early June. With top management and sufficient capital for its near-term work, Lara, at a market cap of less than C$40 million, is extremely undervalued. Planalto alone is worth a multiple of that, while several other projects could add real value.
Despite the run-up in the stock price &mdash; it has almost doubled since an exaggerated low in mid March&mdash; Lara remains a strong buy.
Metalla Royalty &amp; Streaming Ltd. (AMEX:MTA) stock fell sharply after a widely read newsletter writer put out a sell recommendation after it hit his stop loss. The stock was at $3.20 in late April.
Take advantage of the selling to buy.
TOP BUYS this week, in addition to the above, include Nestl&eacute; SA (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgf#OTC">NSRGF</a>), Midland Exploration Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/midlf#OTC">MIDLF</a>), and Orogen Royalties Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ognrf#OTC">OGNRF</a>).
CENTRAL BANKS STILL BUYING According to new numbers from the World Gold Council, central banks bought almost 290 tonnes of gold during the the first there months of the year a first-quarter record.
Although higher than most quarters last year, it is less than the third-quarter peak of 358 tonnes. Nonetheless, contrary to what appeared in January and early February, bank buying is now on track to exceed last year.
Important Disclosures:
<ol>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Franco-Nevada Corp., Barrick Gold Corp., Pan American Silver Corp., Lara Exploration Ltd., Metalla Royalty &amp; Streaming, Midland Exploration Inc., and Orogen Royalties Inc.</li>
<li>Adrian Day: I, or members of my immediate household or family, own securities of: All. My company has a financial relationship with : All. I determined which companies would be included in this article based on my research and understanding of the sector.</li>
<li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>
Adrian Day Disclosures
Adrian Day&#39;s Global Analyst is distributed for $990 per year by Investment Consultants International, Ltd., P.O. Box 6644, Annapolis, MD 21401. (410) 224-8885. <a href="http://www.AdrianDayGlobalAnalyst.com" title="www.AdrianDayGlobalAnalyst.com">www.AdrianDayGlobalAnalyst.com</a>. Publisher: Adrian Day. Owner: Investment Consultants International, Ltd. Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM. Views herein are the editor&#39;s opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. &copy; 2023. Adrian Day&#39;s Global Analyst. Information and advice herein are intended purely for the subscriber&#39;s own account. Under no circumstances may any part of a Global Analyst e-mail be copied or distributed without prior written permission of the editor. Given the nature of this service, we will pursue any violations aggressively.

Barrick Gold&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) CEO, Mark Bristow, believes that mergers and acquisitions do not address <a href="https://www.benzinga.com/topic/copper">the impending copper shortage</a>. In light of BHP&#8216;s proposed $39 billion takeover of Anglo American, Bristow advocated for mining companies to focus on discovering and developing new copper deposits rather than pursuing consolidation.
"You can consolidate, but it doesn't bolster the production profile. Consolidation often leads to production reduction," Bristow remarked in an interview <a href="https://www.ft.com/content/8b60f39a-ddc9-42ab-bbab-290e5cdb00e0">with</a> the Financial Times, underlining his stance on the limitations of M&amp;A to solve the copper supply challenge.
As global demand for copper is expected to surge, driven by the energy transition and expanding electric vehicle (EV) production, industry experts are calling for substantial increases in production capacity.
BHP has until May 22 to make a <a href="https://www.benzinga.com/m-a/24/05/38612588/potential-bidding-war-emerges-for-anglo-american-as-glencore-considers-offer">formal offer for Anglo American</a>, which, if successful, would create one of the largest copper mining companies in the world. However, the complexity of the transaction and Anglo&#8217;s significant assets in platinum and iron ore in South Africa make it a challenging pursuit for many companies.
"BHP is the ultimate 800-pound gorilla. It's a complex transaction," Bristow noted.
Now read: <a href="https://www.benzinga.com/news/24/05/38703659/de-grey-mining-plans-to-raise-395m-for-major-gold-project-in-australia">De Grey Mining Plans To Raise $395M For Major Gold Project In Australia</a>
Barrick&#8217;s strategy hinges on the independent development of its own copper assets. The company&#8217;s central focus is the Reko Diq project in Pakistan, a potential world-class copper-gold mine in which the company holds a 50% stake.
The first phase is estimated to cost a hefty $5.5 billion, prompting Barrick to seek investments from institutions like the International Finance Corporation.
Reko Diq has the potential to be a transformative project. With a projected lifespan exceeding 40 years, it&#8217;s poised to become a major contributor to Pakistan&#8217;s economic landscape, particularly for the underdeveloped Balochistan province. The project should create a significant number of jobs, with 7,500 positions during construction and a further 4,000 permanent roles opening up upon operation.
While finding qualified personnel can pose a problem in the mining industry, Barrick is ahead of the curve on this plan. Their recently opened <a href="https://www.benzinga.com/markets/commodities/24/03/37859429/barrick-trains-new-staff-in-africa-eyes-congo-expansion-kibali-now-flourishing">Barrick Academy</a> at the former Buywagi mine in Tanzania will train more than 2,000 foremen, supervisors, and superintendents from the MENA region.
Also read: <a href="https://www.benzinga.com/markets/commodities/24/05/38680978/uranium-executives-anticipated-russian-nuclear-fuel-ban-despite-senate-delay">Uranium Executives Anticipated Russian Nuclear Fuel Ban Despite Senate Delay</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Image generated using artificial intelligence via Midjourney.

Barrick Gold CEO Says Mergers Won't Fix The Copper Shortage

Spot gold was trading flat Wednesday, continuing to consolidate in a sideways pattern after reaching record highs in April, partly propelled by China escalating <a href="https://www.benzinga.com/markets/asia/24/05/38649656/how-chinas-central-bank-gold-buying-frenzy-drove-prices-to-record-highs-attracting-gen-z-to-gold-bea">its purchases of the commodity</a>.
For cyclical investors, spot gold&rsquo;s consolidation following the metal&rsquo;s steep bull run could signal that traders will begin switching their focus toward gold miners, the latter which has underperformed the movement of the physical commodity.
Direxion Daily Gold Miners Index Bull 2X Shares (ARCA: NUGT) <a href="https://www.direxion.com/product/daily-gold-miners-bull-bear-2x-etfs">invests in a variety of publicly traded firms</a> with global operations in both developed and emerging markets. These companies are predominantly involved in gold mining, with some also engaged in silver mining, but to a lesser degree.
Read Next:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38648713/as-large-cap-stocks-take-a-breather-and-the-spy-trades-sideways-will-small-cap-stocks-st">As Large-Cap Stocks Take A Breather And The SPY Trades Sideways, Will Small-Cap Stocks Steal The Spotlight?</a>
Trending:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38709820/doge-is-the-btc-of-memes-and-these-two-meme-coins-are-the-eth-and-a-must-have-trader-touts">DOGE Is The &#39;BTC Of Memes&#39; And These Two Meme Coins Are The ETH And A &#39;Must Have,&#39; Trader Touts</a>
NUGT is a double-leveraged fund&nbsp;designed to outperform the NYSE Arca Gold Miners Index by 200%. Some of NUGT&rsquo;s most popular holdings include Newmont Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>), Barrick Gold Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>) and Franco-Nevada Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnv#NYSE">FNV</a>), which make up 30.05% of its holdings.
It should be noted that leveraged ETFs are meant to be used as a trading vehicle by experienced traders, as opposed to a long-term investment. Leveraged ETFs should never be used by an investor with a buy-and-hold strategy or those who have low-risk appetites.
For traders who are bearish on the gold mining sector, Direxion offers Direxion Daily Gold Miners Index Bear 2X Shares (ARCA: DUST).
Want direct analysis? Find me in the BZ Pro lounge! <a href="http://www.benzinga.com/pro">Click here for a free trial</a>.
The NUGT Chart: Like spot gold, NUGT has been trading in a mostly sideways pattern since April 12 but with a higher level of daily volatility. The horizontal pattern, paired with the volatility, has caused NUGT to settle into a symmetrical triangle pattern on the daily chart.
<ul>
<li>On Wednesday, NUGT attempted to break through the upper descending trend line of the triangle but failed and wicked down from that area. NUGT&rsquo;s failure to break bullishly from the pattern is likely due to the ETF trading on lower-than-average volume.</li>
<li>Bullish traders want to see NUGT continue to trade near the upper trend line of the triangle and then for big bullish volume to come in and cause a bullish break from the pattern. If that happens, it could signal a longer-term run back toward the April high is on the horizon.</li>
<li>Bearish traders want to see bearish volume drop NUGT down toward the bottom trend line of the pattern, which would cause the ETF to lose support at the eight-day exponential moving average. If that occurs, increasing bearish volume could come in and cause NUGT to break down from the triangle.</li>
<li>NUGT has resistance above at $41.31 and at $44.32 and support below at $37.68 and at $33.<img alt="screenshot_612.png" src="https://www.benzinga.com/files/u278075/screenshot_612.png" style="height:355px; width:760px" /></li>
</ul>

Sector ETFs

Short Ideas

Specialty ETFs

Technicals

ETFs

NUGT

As Spot Gold Stalls Will Investors Turn To Gold Miners? This ETF Looks Ready To Break Out And Offers 2X Leverage

Investors with a lot of money to spend have taken a bullish stance on Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 13 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 69% bullish and 23%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $933,893, and 3 are calls, for a total amount of $133,950.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $23.0 for Barrick Gold during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 18577.0 with a total volume of 1,539.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Barrick Gold's big money trades within a strike price range of $15.0 to $23.0 over the last 30 days.
<h3>Barrick Gold Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715103949_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$5.5</td>
<td>$5.4</td>
<td>$5.4</td>
<td>$22.00</td>
<td>$161.4K</td>
<td style="text-align: right;">899</td>
<td style="text-align: right;">300</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$5.5</td>
<td>$5.4</td>
<td>$5.4</td>
<td>$22.00</td>
<td>$161.4K</td>
<td style="text-align: right;">447</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$5.5</td>
<td>$5.4</td>
<td>$5.4</td>
<td>$22.00</td>
<td>$149.0K</td>
<td style="text-align: right;">447</td>
<td style="text-align: right;">299</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.6</td>
<td>$4.5</td>
<td>$4.5</td>
<td>$21.00</td>
<td>$135.0K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">300</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$6.45</td>
<td>$6.35</td>
<td>$6.35</td>
<td>$23.00</td>
<td>$106.6K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">300</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
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 year-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.
<h3>Where Is Barrick Gold Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 7,516,992, the GOLD's price is down by -0.21%, now at $16.64. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 91 days.</li>
</ul>
<h3>Expert Opinions on Barrick Gold</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $26.0.
<ul>
<li>An analyst from BMO Capital persists with their Outperform rating on Barrick Gold, maintaining a target price of $26. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Barrick Gold with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Smart Money Is Betting Big In GOLD Options

Investors with a lot of money to spend have taken a bullish stance on Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, 8 are puts, for a total amount of $755,446, and there was 1 call, for a total amount of $94,780.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $13.0 to $24.0 for Barrick Gold over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Barrick Gold's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Barrick Gold's significant trades, within a strike price range of $13.0 to $24.0, over the past month.
<h3>Barrick Gold Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715013062_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$7.35</td>
<td>$7.25</td>
<td>$7.25</td>
<td>$24.00</td>
<td>$205.2K</td>
<td>0</td>
<td style="text-align: right;">283</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$5.35</td>
<td>$5.25</td>
<td>$5.25</td>
<td>$22.00</td>
<td>$134.4K</td>
<td>0</td>
<td style="text-align: right;">257</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.43</td>
<td>$2.42</td>
<td>$2.43</td>
<td>$17.00</td>
<td>$121.5K</td>
<td>16.3K</td>
<td style="text-align: right;">681</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$4.7</td>
<td>$4.6</td>
<td>$4.6</td>
<td>$13.00</td>
<td>$94.7K</td>
<td>513</td>
<td style="text-align: right;">66</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.45</td>
<td>$2.41</td>
<td>$2.45</td>
<td>$17.00</td>
<td>$85.5K</td>
<td>16.3K</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
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 year-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.
Following our analysis of the options activities associated with Barrick Gold, we pivot to a closer look at the company's own performance.
<h3>Current Position of Barrick Gold</h3>
<ul>
<li>With a trading volume of 5,438,611, the price of GOLD is up by 1.4%, reaching $16.69.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 92 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Barrick Gold</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $26.0.
<ul>
<li>Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Barrick Gold with a target price of $26. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Barrick Gold options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

This Is What Whales Are Betting On Barrick Gold

WIIM

Shares of gold stocks are trading higher amid a rise in the price of gold.

Renowned economist and gold advocate Peter Schiff used the drastic plunge in Peloton Interactive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) stock to illustrate his theory on the mispricing of gold mining stocks.
What Happened: Schiff highlights the staggering 98.5% decline in Peloton&#8217;s stock, which reached a record low of $2.70. He emphasized how this situation mirrors the current state of gold mining stocks, but in reverse.
&#8220;#Peloton stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That&#8217;s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with #gold mining stocks, only in reverse,&#8221; Schiff wrote on X. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Peloton?src=hash&amp;ref_src=twsrc%5Etfw">#Peloton</a> stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That&#39;s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> mining stocks, only in reverse.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1786052596706247091?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Schiff&#8217;s commentary highlighted the drastic decline in Peloton stock, shedding light on the potential for mispricing in the market. This phenomenon is evident in the gold mining sector, albeit in reverse. 
Schiff&#8217;s commentary comes as gold mining stocks exhibit varied performance. Barrick Gold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is currently trading at $16.55, marking a 7.44% decline year to date. US Goldmining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USGO#NASDAQ">USGO</a>) is trading at $6.09, experiencing a 17.37% decrease year to date. SSR Mining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>) is priced at $5.40, reflecting a 49.30% decrease year to date. Conversely, Kinross Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) is trading at $6.55, indicating a 10.64% increase year to date, while Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) is at $41.05, showing a modest 0.34% uptick year to date.<a href="https://twitter.com/PeterSchiff/status/1786052596706247091"></a>
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38487758/why-gold-prices-are-at-record-highs-and-what-it-means-for-miners?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Gold Prices Are At Record Highs And What It Means For Miners</a>
Why It Matters: Schiff&#8217;s remarks come in the wake of a series of events that have impacted the financial markets. Earlier in April, Schiff&#8217;s firm, Schiff Gold, suggested that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397480/gold-to-rally-even-higher-on-nvidia-big-tech-schiffs-firm-says-ai-has-looped-around">gold could rally even higher</a> due to its increasing use in technology, a trend that may not be fully appreciated by the market.
At the same time, Schiff has been a vocal critic of cryptocurrencies, challenging the predictions of a $100,000 Bitcoin price and suggesting that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38265256/peter-schiff-challenges-bitcoins-100k-prediction-as-crypto-linked-stocks-languish-i">crypto-linked stocks are languishing</a> in a bear market despite Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price movements.
Meanwhile, the global economy has been showing signs of resilience, with the&nbsp;Organization for Economic Cooperation and Development&nbsp;revising its 2024 <a href="https://www.benzinga.com/news/24/05/38575037/world-economy-seeks-to-avoid-stagflation-as-oecd-lifts-global-growth-forecast-for-2024">growth forecast upwards</a>, indicating a potential escape from a stagflationary rut. This could have implications for the broader market, including the gold mining sectors.
Amid these developments, Schiff&#8217;s comments on the mispricing of gold mining stocks and the Peloton stock&#8217;s dramatic decline serve as a reminder of the potential risks and opportunities in the current market environment.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38570836/bitcoins-historical-data-suggests-a-potential-99-surge-says-crypto-analyst-time-to-buy-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: &#8216;Time To Buy The Dip!&#8217;</a>
Image Via Wikimedia Commons
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.