Investors with a lot of money to spend have taken a bullish stance on Barrick Gold GOLD.
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, Benzinga's options scanner spotted 14 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 64% bullish and 35%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $1,492,874, and 8 are calls, for a total amount of $528,773.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $22.0 for Barrick Gold over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Barrick Gold's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Barrick Gold's substantial trades, within a strike price spectrum from $12.0 to $22.0 over the preceding 30 days.
Barrick Gold Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | TRADE | BEARISH | 01/17/25 | $1.41 | $1.37 | $1.4 | $17.00 | $700.0K | 48.1K | 5.0K |
| GOLD | PUT | TRADE | BEARISH | 03/21/25 | $1.7 | $1.64 | $1.68 | $17.00 | $420.0K | 58 | 2.5K |
| GOLD | PUT | SWEEP | BULLISH | 09/20/24 | $0.87 | $0.86 | $0.86 | $17.00 | $129.0K | 10.9K | 1.5K |
| GOLD | PUT | SWEEP | BEARISH | 03/21/25 | $5.2 | $5.15 | $5.2 | $22.00 | $127.9K | 0 | 247 |
| GOLD | CALL | SWEEP | BULLISH | 02/21/25 | $3.9 | $3.8 | $3.9 | $14.00 | $116.6K | 68 | 300 |
About Barrick 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 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.
Current Position of Barrick Gold
- With a volume of 9,009,093, the price of GOLD is up 2.29% at $17.19.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 4 days.
What The Experts Say On Barrick Gold
2 market experts have recently issued ratings for this stock, with a consensus target price of $25.0.
- An analyst from CIBC has decided to maintain their Outperformer rating on Barrick Gold, which currently sits at a price target of $27.
- An analyst from Jefferies persists with their Buy rating on Barrick Gold, maintaining a target price of $23.
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 Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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