After a sizable and consistent rally lasting the better part of two years, gold may have finally reached a limit. Achieving an all-time high near $4,400 per ounce in mid-October, gold has since pulled back to roughly $4,000.
B's third-quarter results are expected to reflect higher gold prices amid cost headwinds.
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Barrick Mining shares surged over 100% year-to-date, which is an outperformance of gold prices by a factor of 2x. The recent pullback in gold prices offered a buying opportunity, as I see the decade-old gold rally continuing on fundamentals. Assuming that the gold rally will continue, Barrick's share price could see new all-time highs within about a year.
B's $305 million Tongon sale caps a string of non-core divestments aimed at strengthening its balance sheet and fueling growth.
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B leverages robust cash flow and a strong balance sheet to sustain shareholder returns and growth momentum.
Barrick Mining Corporation (NYSE:B) (TSX:ABX) announced on Monday that it has reached an agreement to sell its interests in the Tongon gold mine and certain of its exploration properties in Côte d'lvoire to locally owned Atlantic Group for total payments of up to US$305 million. In consideration for the sale, Barrick will receive US$192 million in cash, including a US$23 million shareholder loan repayment within six months of closing.
Strong improvements in Barnes & Noble Education's business are currently masked by accounting issues. First Day sales growth has accelerated in recent quarters, and preliminary numbers indicate a vastly improved cash flow performance. Past missteps and the recent audit committee investigation have resulted in the company trading at a deeply discounted valuation.
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Barrick stock surged nearly 28% in a month on surging gold prices, but higher costs and lower 2025 output may weigh on momentum.
Barrick delivered a rapid 25% return, validating my previous Strong Buy thesis, but the rally now warrants a shift to a Buy rating. Despite the surge, Barrick trades at a discount to peers while boasting elite margins, strong growth, and a nearly debt-free balance sheet. The company's dual exposure to gold and copper offers both protection and growth, but geopolitical and ESG risks remain notable concerns.