Check Out What Whales Are Doing With GOLD

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 10 uncommon options trades for Barrick Gold.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $448,245, and 4 are calls, for a total amount of $389,009.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $25.0 for Barrick Gold over the last 3 months.

Volume & Open Interest Trends

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 $15.0 to $25.0 in the last 30 days.

Barrick Gold 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Barrick Gold

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2024, the firm produced nearly 3.9 million attributable ounces of gold and about 430 million pounds of copper. At year-end 2024, 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.

After a thorough review of the options trading surrounding Barrick Gold, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Barrick Gold

• With a volume of 7,369,207, the price of GOLD is up 0.88% at $18.36.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 50 days.

Professional Analyst Ratings for Barrick Gold

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $21.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $22. * An analyst from Scotiabank has decided to maintain their Sector Perform rating on Barrick Gold, which currently sits at a price target of $20.

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 Benzinga Pro for real-time alerts.