Investors with an interest in Mining - Gold stocks have likely encountered both Barrick Gold (GOLD) and Royal Gold (RGLD). But which of these two companies is the best option for those looking for undervalued stocks?
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Barrick Gold exceeded Q2 expectations with revenues of $3.16 billion, up 11% YoY, and non-GAAP earnings of $0.32/share. Shares rallied ~10%. I attribute Barrick's better-than-expected performance largely to high gold prices, and less so due to operational improvements. Gold miners frequently fail to deliver the leverage to gold prices that investors hope for.
Earlier this month, Wharton's Jeremey Siegel suggested that the Fed should “make an emergency 75 basis-point cut in the federal funds rate.” This suggestion came after a disappointing jobs report.
The objective of healthy returns in a quick time is generally achieved by exposure to growth stocks. However, there are opportunities where blue-chip stocks can surge higher from undervalued levels.
Geopolitical worries have more to do with gold rising to record highs than does inflation, Barrick Gold Corp.'s GOLD chief executive said Monday in a conference call accompanying second quarter results.
Barrick's (GOLD) second-quarter earnings and revenues beat estimates on the back of higher gold prices.
After a strong Q2 2024 earnings report, Barrick Gold's share price skyrocketed. One good quarter, however, does not set a trend, and the rest of 2024 will remain challenging. Even if gold prices continue to increase in the coming months, investors would most likely be better-off with other gold mining stocks.
Barrick Gold Corporation investors who ignored the market pessimism could be close to experiencing a decisive breakout in its stock. The gold miner delivered solid Q2 earnings, demonstrating a profitability growth inflection. Barrick Gold has a robust Tier-One portfolio, bolstered by growth optionalities in its strategic projects.
Global skepticism about the U.S. dollar is rising, and last week's S&P 500 brief sell-off proves this new trend. It was sparked by Japan's sudden interest rate hike, which triggered a so-called “carry trade” unwind.
Barrick Gold (GOLD) shares surged more than 9% on Monday after the Canada-based gold miner posted better-than-expected second-quarter results, driven by buoyant gold prices and robust production.
Barrick Gold Corporation (NYSE:GOLD ) Q2 2024 Earnings Conference Call August 12, 2024 11:00 AM ET Company Participants Mark Bristow - President and Chief Executive Officer Graham Shuttleworth - Senior Executive Vice-President, Chief Financial Officer Simon Jimenez - Chief Advisor, Strategy & Human Rights John Steele - Metallurgy, Engineering and Capital Projects Executive Simon Bottoms - Mineral Resource Management and Evaluation Executive Conference Call Participants Lawson Winder - Bank of America Josh Wolfson - RBC Capital Markets Brian MacArthur - Raymond James Anita Soni - CIBC World Markets Ralph Profiti - Eight Capital Steve Green - TD Securities Daniel Major - UBS Bob Brackett - Bernstein Research Mike Parkin - National Bank Tanya Jakusconek - Scotia Capital Operator Ladies and gentlemen, thank you for standing by. This is the event operator.