The Barrick Gold stock, which has maintained a generally bullish outlook over the years received a boost after the company announced its Q4 earnings that were more than double its Q3 earnings. At the same time, the company also announced a $1 billion share buyback.
The increased quarterly earnings follow a strong production at the company’s Nevada mines and a reduced taxed take.
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The company’s stock has risen by over 20% over the past five days and analysts expect it to go higher in 2022.
To help stock investors interested in investing in Barrick Gold stock (GOLD), Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Barrick Gold stock?
Barrick Gold stock is the stock of Barrick Gold Corporation shares and it trades on the New York Stock Exchange under the ticker NYSE: GOLD.
Barrick Gold Corporation is a Canadian multinational mining company that produces copper and gold. It’s headquartered in Toronto, Canada but has operating mines in over 12 other countries including Argentina, Chile, the United States, Côte d’Ivoire, Dominican Republic, the Democratic Republic of the Congo Mali, Saudi Arabia, Papua New Guinea, Zambia, and Tanzania.
It was the largest gold mining company up to 2019 when Newmont Corporation acquired Goldcorp making it the largest gold mining company.
Should I buy the GOLD stock today?
If you are looking to invest in a stock of a mining company, then you could choose the GOLD stock following its exponential price rise.
Nevertheless, it is important to note that the mining industry is affected by several factors and politics is one of them. And at the moment, tensions are brewing between the West and Russia concerning Russia’s provocative moves that signal a possible invasion of Ukraine.
Barrick Gold stock price prediction
Analysts expect the GOLD stock to continue rallying at least for the first quarter of 2022 and possibly hit $30.
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