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 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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Renowned economist and gold advocate Peter Schiff used the drastic plunge in Peloton Interactive Inc (NASDAQ:PTON) stock to illustrate his theory on the mispricing of gold mining stocks.

Peter Schiff Highlights Pandemic Darling Stock&#39;s 98.5% Decline To Make A Point About Mispriced Gold Mining Stocks: &#39;Same Situation Exists Today&#39;

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Gold Co. Releases Maiden Resource Estimate for Historic SD Project

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Barrick&#39;s earnings, which beat Street estimates, reflect the company&#39;s ability to navigate challenges and deliver solid results, analyst says.

Barrick Gold&#39;s Golden Cross Opportunity — Analyst Sees &#39;Ample Opportunity For Catch Up&#39; Post Q1

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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"> 
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<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>
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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>
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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.

Peter Schiff Highlights Pandemic Darling Stock's 98.5% Decline To Make A Point About Mispriced Gold Mining Stocks: 'Same Situation Exists Today'

Source: <a href="https://www.streetwisereports.com/article/2024/04/30/gold-co-releases-maiden-resource-estimate-for-historic-sd-project.html?utm_medium=feed">Streetwise Reports 04/30/2024</a>
Dakota Gold Corp.&nbsp;(AMEX:DC) has released its initial assessment maiden resource estimate for its Richmond Hill Gold Project in the historic Homestake District of South Dakota, news that sent its stock price up at least 5 cents per share.
The S-K 13000 Initial Assessment for the project noted an Indicated Resource of 51.83 million tonnes (Mt) at 0.8 grams per tonne gold (g/t Au) for 1.33 million ounces (Moz) and an Inferred Resource of 58.06 Mt at 0.61 g/t Au for 1.13 Moz.
&quot;It&#39;s been two years since Dakota first began drilling Richmond Hill, and at first glance, the effort has paid off in this initial resource estimate, in our view&quot; Canaccord Genuity analyst Peter Bell noted in an updated research note. &quot;Richmond Hill showcases a global resource of 109.9 Mt grading 0.70g/t Au containing 2.46 Moz of gold.&quot;
Bell pointed out that the report noted mineralization is very shallow, with portions of the resource exposed at the surface.
&quot;We await more detail on the plan for processing the mineralization including the lower recovery hypogene material&quot; Bell wrote. &quot;Pending further review of the technical report, we are positive on the results.&quot;
The maiden resource was derived from a historical database containing 69,401 gold assays from more than 900 drill holes, including 57 drill holes from Dakota Gold&#39;s current drill program, the company said.
But there is high-grade expansion potential, as drilling done post cutoff for the report on Oct. 5, 2023, has included 22.9 meters of 1.99 g/t Au, 42.8 meters of 1.71 g/t Au, and 60.9 meters of 1.68 g/t Au.
&quot;The mineralization is consistent, near surface with portions of the resource exposed at surface and contains significant oxide mineralization&quot; said Dakota President, Chief Executive Officer, and Director Jonathan Awde. &quot;Richmond Hill benefits from being on private land and close to well established infrastructure. There is significant opportunity for improvement and expansion of the resource with additional work to position Richmond Hill as a high-quality, advanced-stage exploration asset in the U.S.&quot;
Dakota noted that with 17 holes drilled since the cutoff, there was growth potential open in all directions, with the possibility of more recoveries from additional drilling and metallurgical work on the project.
&quot;In less than 20 months, we&#39;ve outlined a multimillion-ounce maiden resource&quot; Awde said Tuesday during a webcast with analysts and shareholders.
<h2>The Catalysts: History, Experience, Resources</h2>
The company is exploring the 48,000 acres it has acquired and consolidated over the past decade surrounding the Homestake Mine, including the Richmond Hill and Maitland projects.
Once called the &quot;Richest 100 Square Miles&quot; on Earth, Homestake was discovered in 1876 and consolidated by George Hearst. Over 126 years, miners extracted 41 Moz Au and 9 Moz silver (Ag) from the site. The company is also backed by industry giant Barrick Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>)
Headquartered in Lead, S.D., Dakota Gold&#39;s leadership team boasts Robert Quartermain as co-chairman, a mining professional, and Canadian Mining Hall of Fame inductee with a 40-plus-year career in the industry. Awde, also the co-founder and former CEO and president of Gold Standard Ventures, is well-skilled in corporate development, asset acquisition, joint ventures, and procuring and raising capital.
Dakota Gold&#39;s technical team collectively has extensive geological and exploration experience, including direct experience in the Homestake District and historic Homestake mine.
&quot;The Homestake District was put on the global mining stage because of the legendary Homestake Mine&quot; Awde said Tuesday. &quot;In the past, Homestake controlled the entire district, and we have taken a page from their playbook by consolidating much of the district.&quot;
<h2>Richmond Hill &#39;Important Component&#39; of Strategy</h2>
Bell with Canaccord noted that Richmond Hill is &quot;an important component of Dakota Gold&#39;s exploration strategy for the Homestake District.&quot;
&quot;The Richmond Hill property contains the past-producing Richmond Hill mine and the Carbonate District mines&quot; Bell wrote. &quot;Looking ahead to 2024, Dakota has a ~$30 (million) exploration program underway for its Richmond Hill and Maitland projects.&quot;
&quot;The initial drill program at Richmond Hill confirmed historical drilling and demonstrated that the mineralization is more extensive than we anticipated&quot; said Dakota Vice President of Exploration James Berry.
&quot;We have been conservative in our methodology and are confident that the resource will expand with additional exploration and infill drilling&quot; Berry said. &quot;With inclusion of the significant silver component, and optimization of recoveries, we think the future of Richmond Hill is exceptional and a great beginning for our assets in the Homestake Gold District.&quot;
Chris Temple, editor/publisher of The National Investor, has recommended Dakota Gold as a growth-oriented stock.
&quot;This is another (of quite a few still) I have been following . . . sitting on . . . and mulling over until I thought the time was right&quot; Temple wrote in March.
<h2>Bullish Trend to Continue for Yellow Metal?</h2>
Gold continues to be on the upswing this year, with many investors turning to it to counter high inflation and economic uncertainty, CBS News reported. April saw record gold prices of just over US$2,400 per ounce, although it was at US$2,333.06 on Tuesday morning.
&quot;Gold is an uncertainty hedge and historically performs well during times of war&quot; Chris Gaffney, president of world markets at EverBank told the network. &quot;Gold is also traditionally viewed as an inflation hedge, and the stubbornly high inflation levels have encouraged investors to add this hard asset to their investment portfolios as a way to protect against rising prices.&quot;
Gaffney predicted that gold would approach US$2,500 per ounce by the end of the year.
&quot;I view the recent pullback in gold price as a healthy reset in a continued bull market for precious metals and expect additional volatility in prices as the year progresses&quot; he said. &quot;However, the overall bullish trend should continue, given all of the factors which have propelled gold to these recent highs.&quot;
<h2>Ownership and Share Structure</h2>
According to the company, approximately 25% of its shares are with management and insiders.
Out of management, Quartermain holds the most shares at 8.43%, Awde is next at 6.82%, while COO Jerry Aberle holds 4.85%, according to Reuters.
About 26% of the shares are with institutional investors, according to Yahoo Finance and Edgar filings. Top institutional holders include Fourth Sail Capital with 5.27%, Van Eck Associates with 3.97%, Blackrock Institutional Trust Co. with 3.65%, The Vanguard Group Inc. with about 3.15%, Fidelity Management and Research Co. LLC with 2.71%, and CI Global Asset Management with 2.63%, Reuters reported.
About 16.5% is with strategic investors, including Orion Mine Finance, which owns about 7.6%, and Barrick Gold Corp., which owns about 3%. The rest is retail.
Dakota Gold has a market cap of US$229.26 million, with 87.7 million shares outstanding. It trades in a 52-week range of US$3.95 and US$1.95.
Important Disclosures:
<ol>
<li>Dakota Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.</li>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dakota Gold Corp. and Barrick Gold Corp.</li>
<li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</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>

Barrick Gold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) recently reported its first-quarter (Q1) earnings, surpassing Street estimates and offering a positive outlook <a href="https://www.benzinga.com/quote/GOLD/earnings">for the future</a>.
<h3 class="wp-block-heading">Strong Q1 Financial Performance and Outlook</h3>
In Q1 2024, Barrick reported adjusted EPS of $0.19, beating the $0.15 estimate. Sales of $2.747 billion came in line with expectations. The company&#8217;s capital expenditure for 2024 is projected to be between $2.5 billion and $2.9 billion. Despite missing Q1 production targets, Barrick maintains its 2024 outlook, expecting steady gold production increases.
Related: <a href="https://www.benzinga.com/news/earnings/24/05/38553218/barrick-gold-maintains-fy24-outlook-despite-q1-production-miss">Barrick Gold Maintains FY24 Outlook Despite Q1 Production Miss</a>
<h3 class="wp-block-heading">Analyst Sees Ample Opportunity For &#8216;Catch Up&#8217;</h3>
BMO Capital Markets&#8217; analyst Jackie Przybylowski&#8217;s recent insights on Barrick Gold&#8217;s performance and outlook provide a compelling investment thesis for the company. 
Barrick&#8217;s strong Q1 2024 earnings, which beat Street estimates, reflect the company&#8217;s ability to navigate challenges and deliver solid results. &#8220;It&#8217;s early in the year, and we see sufficient time and ample opportunity for &#8216;catch up&#8217;,&#8221; said Przybylowski.
Additionally, management&#8217;s credible plan to improve production and costs through 2024 indicates a strategic focus on efficiency and growth. The analyst&#8217;s Outperform rating and one-year target price of $26 per share suggest significant upside potential for investors.
<h3 class="wp-block-heading">Key Catalysts </h3>
Przybylowski sees organic growth as a &#8220;strategic differentiator&#8221; for Barrack Gold. She sees &#8220;Barrick&#8217;s existing pipeline offers meaningful growth and catalysts for both copper and gold.&#8221;
Barrick Gold&#8217;s existing pipeline offers significant growth opportunities in both copper and gold, as highlighted by Przybylowski. The company&#8217;s strategic initiatives, including &#8211; the Pueblo Viejo expansion project, Porgera restart, and optimization or growth at Nevada Gold Mines, Lumwana super pit, and Reko Diq development &#8211; are expected to drive future performance.
<h3 class="wp-block-heading">Technical Analysis Signals Golden Cross</h3>
On the technical front, Barrick Gold&#8217;s stock recently formed a Golden Cross, indicating a potential bullish trend.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="692" height="494" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/02104819/Screenshot-2024-05-02-at-4.36.41-PM.png" alt="" class="wp-image-319739" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/02104819/Screenshot-2024-05-02-at-4.36.41-PM.png 692w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/02104819/Screenshot-2024-05-02-at-4.36.41-PM-300x214.png 300w" sizes="(max-width: 692px) 100vw, 692px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
As can be seen in the chart above, the 50-day simple moving average (SMA) has crossed over the 200-day SMA, triggering a strong bullish sentiment for the stock.
A Golden Cross is a basic technical indicator that occurs in the market when a short-term moving average (50-day) of an asset rises above a long-term moving average (200-day). When traders see a Golden Cross occur, they view this chart pattern as indicative of a strong bull market.
Barrack Gold&#8217;s Golden Cross comes as the stock has shown resilience, despite being down 13.89% over the past year and -9.56% year-to-date. The stock&#8217;s performance contrasts with the 13.94% increase in the spot gold price over the past year and 11.74% year-to-date.
Barrick Gold&#8217;s positive Q1 earnings report, coupled with its strategic growth initiatives and favorable technical signals, paints a promising picture for the company.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38447657/copper-is-a-hot-commodity-bidding-war-for-anglo-american-may-emerge-after-bhps-low-">Copper Is A Hot Commodity &#8211; Bidding War for Anglo American May Emerge After BHP&#8217;s &#8216;Low Ball&#8217; Offer — &#8216;Let The Games Begin&#8217;</a>
Image: Shutterstock

Barrick Gold's Golden Cross Opportunity — Analyst Sees 'Ample Opportunity For Catch Up' Post Q1

Barrick Gold Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)&nbsp;reported first-quarter FY24 revenue of $2.747 billion (+4% Y/Y), which<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38543293/barrick-to-ramp-up-production-as-it-remains-on-track-to-achieve-2024-targets" rel="noreferrer noopener">&nbsp;is&nbsp;in line&nbsp;with the&nbsp;consensus</a>.&nbsp;
Gold production stood at 940 thousand ounces (-1% Y/Y), and gold sales were 910 thousand ounces (-5% Y/Y).
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/rumors/24/04/38279955/barrick-misses-preliminary-gold-production-estimate-management-unfazed-by-risks-in-key-african-count" rel="noreferrer noopener">Barrick Misses Preliminary Gold Production Estimate, Management Unfazed By Risks In Key African Country</a>
The average realized gold price rose 9% Y/Y to $2,075 per ounce, and All-in sustaining costs (AISC) rose 8% Y/Y to $1,474&nbsp;per ounce in the quarter.
Copper production remained flat Y/Y to 40 thousand tonnes, and the average realized copper price declined 8% Y/Y to $3.86 per pound.
Adjusted EPS of $0.19 exceeded&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of $0.15</a>.
President and chief executive Mark Bristow said, &#8220;Our focus on exploration has placed Barrick in the unique position of more than replacing the reserves we mine year after year. Our key organic projects, such as the development of Reko Diq, the extension of Pueblo Viejo&#8217;s Tier One&nbsp;life by more than 20 years, and the transformation of Lumwana into one of the world&#8217;s major copper mines will secure Barrick&#8217;s production profile well into the future.&#8221;&nbsp;
At the end of the quarter, cash and cash equivalents stood at $3.94 billion, and debt was $4.73 billion.
Capital expenditure rose 6% Y/Y to $728 million, and operating cash flow stood at $760 million.&nbsp;
Dividend: GOLD declared a first-quarter dividend per share of $0.10, payable on June 17 to shareholders of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38543277/barrick-declares-q1-dividend" rel="noreferrer noopener">record&nbsp;as of May 31</a>.
FY24 Outlook Reiterated: The company expects attributable gold production in the range of 3.9-4.3 million ounces and AISC in the range of&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$1,320 – $1,420 per ounce</a>.
The company expects gold production to ramp up steadily during the year, led by the completion of the Pueblo Viejo plant expansion and the resumption of operations at the Porgera mine.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38111546/barrick-targets-peruvian-expansion-amidst-record-gold-prices" rel="noreferrer noopener">Barrick Targets Peruvian Expansion Amidst Record Gold Prices</a>
For 2024, capital expenditure&nbsp;is expected&nbsp;to be within&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37128210/barrick-golds-q4-earnings-shine-buyback-glitters-more" rel="noreferrer noopener">$2.50 billion-$2.90 billion</a>.
Also, the company inked an exploration earn-in agreement with Geophysx Jamaica Ltd.&nbsp;with respect to&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38543958/barrick-announces-extensive-exploration-partnership-with-geophysx-jamaica" rel="noreferrer noopener">certain properties located in Jamaica</a>.
Investors can gain exposure to the stock via&nbsp;Sprott Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and&nbsp;VanEck Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: GOLD shares are down 0.20% at $16.61 at the last check Wednesday.
Photo via Shutterstock

Large Cap

Guidance

Dividends

Market Vectors ETF Trust Market Vectors Gold Miners

SGDM

Barrick Gold Maintains FY24 Outlook Despite Q1 Production Miss

Barrick Gold Announced That Its Subsidiary Barrick Gold Ltd. Has Entered Into An Exploration Earn-in Agreement With Geophysx Jamaica Ltd. With Respect To Certain Properties Located In Jamaica

Barrick Gold Sees FY24 Capital Expenditure Of $2.5B - $2.9B

Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.15 by 26.67 percent. The company reported quarterly sales of $2.747 billion which met the analyst consensus estimate. This is a 3.93 percent increase over sales of $2.643 billion the same period last year.

Earnings Beats

Barrick Gold Q1 2024 Adj EPS $0.19 Beats $0.15 Estimate, Sales $2.747B Inline

WIIM

SBSW

Shares of precious metals stocks are trading lower amid a drop in the price of gold.

Whales with a lot of money to spend have taken a noticeably bullish stance on Barrick Gold.
Looking at options history for Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $930,769 and 5, calls, for a total amount of $380,314.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $13.0 to $37.0 for Barrick Gold over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Barrick Gold's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Barrick Gold's whale trades within a strike price range from $13.0 to $37.0 in the last 30 days. 
<h3>Barrick Gold Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714411870_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>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>02/21/25</td>
<td>$8.15</td>
<td>$7.95</td>
<td>$7.95</td>
<td>$25.00</td>
<td>$238.5K</td>
<td>377</td>
<td style="text-align: right;">601</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$8.0</td>
<td>$7.9</td>
<td>$7.9</td>
<td>$25.00</td>
<td>$237.0K</td>
<td>377</td>
<td style="text-align: right;">605</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$8.05</td>
<td>$7.95</td>
<td>$7.95</td>
<td>$25.00</td>
<td>$232.1K</td>
<td>377</td>
<td style="text-align: right;">301</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$7.9</td>
<td>$7.8</td>
<td>$7.8</td>
<td>$25.00</td>
<td>$190.3K</td>
<td>377</td>
<td style="text-align: right;">905</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$4.5</td>
<td>$4.4</td>
<td>$4.45</td>
<td>$15.00</td>
<td>$178.0K</td>
<td>14.6K</td>
<td style="text-align: right;">42</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 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.
Having examined the options trading patterns of Barrick Gold, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Barrick Gold Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 9,541,209, the GOLD's price is up by 0.29%, now at $17.14. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 2 days.</li>
</ul>
<h3>Professional Analyst Ratings for Barrick Gold</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $26.0.
<ul>
<li>An analyst from BMO Capital has decided to maintain their Outperform rating on Barrick Gold, which currently sits at a price target 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>.

Options

Market Whales and Their Recent Bets on GOLD Options

Financial giants have made a conspicuous bullish move on Barrick Gold. Our analysis of options history for Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) revealed 21 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $1,351,379, and 10 were calls, valued at $508,821.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $11.0 to $25.0 for Barrick Gold over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 10980.81 with a total volume of 11,440.00.
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 $11.0 to $25.0 over the last 30 days.
<h3>Barrick Gold Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714156268_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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$2.44</td>
<td>$2.34</td>
<td>$2.33</td>
<td>$17.00</td>
<td>$405.5K</td>
<td>13.6K</td>
<td>0</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.37</td>
<td>$2.35</td>
<td>$2.37</td>
<td>$17.00</td>
<td>$200.2K</td>
<td>13.6K</td>
<td>2.6K</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$8.0</td>
<td>$7.9</td>
<td>$7.9</td>
<td>$25.00</td>
<td>$177.7K</td>
<td>152</td>
<td>225</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$5.15</td>
<td>$5.1</td>
<td>$5.1</td>
<td>$22.00</td>
<td>$168.3K</td>
<td>0</td>
<td>110</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$0.97</td>
<td>$0.95</td>
<td>$0.95</td>
<td>$18.00</td>
<td>$95.0K</td>
<td>950</td>
<td>1.0K</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 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.
In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Barrick Gold</h3>
<ul>
<li>Currently trading with a volume of 13,611,866, the GOLD's price is up by 0.7%, now at $17.2. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 5 days.</li>
</ul>
<h3>What Analysts Are Saying About Barrick Gold</h3>
1 market experts have recently issued ratings for this stock, with a consensus 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.