The gold industry occupies a unique place in the global financial ecosystem. For centuries, gold has been considered a store of value. An asset that can provide a hedge against financial risk, inflation and economic uncertainty. From an investment perspective, gold is both a tangible asset that retains its intrinsic value and a financial instrument that can be traded on different markets. With the ever-present prospect of geopolitical tensions and macroeconomic fluctuations, gold often serves as a safe haven for investors seeking to secure their investments during times of instability.
Gold stocks, generally include companies involved in the mining, exploration and production of gold. They offer investors exposure to the price movements of the precious metal without the need to physically own it.
Investing in these stocks can be an effective strategy for those who want to exploit the market’s potential.gold market while diversifying their portfolios. However, as with any sector, investing in gold stocks may be subject to market volatility and risks associated with mining operations, regulatory compliance and commodity price fluctuations. Given this, here are two trending gold stocks to watch in the sotck exchange NOW.
Gold Stocks to Buy (or Avoid) Now
Newmont Corp (NEM Stock)
Let’s start with us, Newmont Company (NEM) is the world’s largest gold mining company. Newmont has operations on several continents. The company is known for its strong portfolio of assets.
In May, Newmont announced its intention to acquire Newcrest Mining Limited, thereby acquiring all of the issued shares of Newcrest. Newcrest shareholders are expected to receive 0.400 shares of Newmont stock as well as a special dividend of up to $1.10 per share. The unanimous approval of both boards propels the merger, aimed at strengthening Newmont’s position in responsible gold mining and expecting significant financial synergies. However, the deal is awaiting shareholder approval and is expected to be completed by the end of 2023.
Looking at the last month of trading action, Newmont Corp shares are trading up marginally by 1.77%. Meanwhile, as of last Friday’s close, NEM stock ended the day at $42.66 per share.
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Barrick Gold Corp (GOLD shares)
Second, Barrick Gold Company (GOLD) is another giant in the gold mining industry with a diverse portfolio of mines and projects across the world. The Company has a strong track record in operations, development and exploration.
Last May, Barrick Gold Corp reported its first quarter 2023 financial results. Diving, the company reported earnings of $0.14 per share, with revenue of $2.6 billion. This matches analysts’ consensus estimates for the quarter, which were for EPS of $0.11 and estimated revenue of $2.6 billion.
Over the last month of trading, Barrick Gold stock is down marginally by 1.51%. While, at the closing bell last Friday, GOLD stock was trading at $16.93 per share.
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