ABX

Barrick Gold Corporation

According to a Financial Times report, hedge fund Elliott Management had acquired a significant stake in Barrick Gold.

CEO Mark Bristow noted that the impact of any potential tariffs on gold bars would be minimal on mining companies as they are “price takers.”

According to Fiscal.ai data, analysts expect the Canadian miner to post earnings of $0.46 per share on revenue of $3.82 billion for the three months ended June 30.

Investing.com -- Wall Street may be underestimating gold prices by clinging to outdated forecasting tools, Bernstein said that makes a bullish case for the metal hitting $3,700 an ounce by 2026.Analysts at Bernstein analyzed 15 common methods used to predict gold prices and found that most no longer work, or never really did. Instead, Bernstein identified six methods that remain useful, many of which focus on government and monetary policy rather than traditional commodity fundamentals.

Spot gold prices were up 0.4% at $3,370.11 per ounce, while gold futures advanced 0.5% at $3,380.50 per ounce at 8.14 a.m. GMT.

Investing.com -- Loulo-Gounkoto complex in Mali, seized from Barrick Gold in February, is restarting operations after a nearly six-month suspension, with the court-appointed administrator planning to sell one metric ton of gold from the site’s storeroom, according to a Reuters report on Tuesday.

A decade of underinvestment in mining has led to tight supply, which will benefit small gold mining companies, that are bringing new projects online. Buy now before the market re-rates it and the window of opportunity closes.

Investing.com -- Shares of Barrick Gold (NYSE:GOLD) Corp (TSX:ABX) edged up 1.2% while NovaGold Resources Inc (TSX:NG) soared 9.7% after Barrick announced the sale of its 50% interest in the Donlin Gold Project in Alaska. The stake held by Barrick’s subsidiary, Barrick Gold U.S. Inc., was sold to affiliates of Paulson Advisers LLC and NovaGold Resources Inc. for $1 billion in cash.