- Gold prices saw massive bullish trends within the last few weeks.
- It emerged as a lucrative haven as the Ukraine-Russia conflict continued.
- Here are gold stocks to consider at the moment.
The gold price has benefited from the ongoing war in Ukraine as market players rushed to the asset for safety. Gold noted upswings within the previous successive weeks, changing hands around its highest level since 2020 August. The product had gained nearly 70% from the 2017 lows. Here are the leading gold stocks to consider.
- Barrick Gold
Barrick Gold is among the leading gold mining firms globally. Its stock trades under NYSE: GOLD ticker. Moreover, the company boasts more than $43 billion in valuation. The Canadian firm runs in 16 cities in the world. Also, Barrick Gold is a ‘smaller’ player within the copper mining sector.
Barrick Gold stock has seen massive bullish price trends within the previous few months. It trades around $24.85, its highest level since May 26, 2021. Moreover, the shares surged 44% from the 2021 December lows.
Experts trust GOLD stock will extend lucrative performance as the prices hike. That way, the asset might take its revenue beyond $12 billion in 2022, after plummeting to $11.98 billion over the past year. However, gold prices should maintain the elevated levels for that narrative to play out.
- Newmont Corporation
Newmont Corporation (NYSE: NEM) is a leading gold mining company globally, valued above $61 billion. The company has grown organically and via acquisitions like the Goldcorp $10 billion buyouts.
Meanwhile, Newmont saw its revenue increase to $12.2B in 2021 from the 2020s $11.49 billion. However, its profitability recorded a sharp drop towards $57 million. Therefore, the firm will see substantial benefits amid increasing gold prices. WeBulls data shows most experts tracking Newmont Corporation boasts a hold rating while others have a ‘buy’ rating.
- Wheaton Precious Metals
Wheaton Precious Metals is among the leading gold stocks to consider, trading with NYSE: WPM ticker. Unlike Newmont Corporation and Barrick GOLD, Wheaton doesn’t have mining operations. That way, the firm keeps its operating costs significantly low.
Meanwhile, Wheaton Precious Metals is a gold streaming firm that obtains gold and mining byproducts such as nickel from running mines at fixed charges. The company had most of its contracts in North America.
Wheaton’s business model boasts minimal risks, making it money-making than real mining. For instance, the company’s revenue in 2021 was $1.2 billion, while net income stood at $620 million.