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Gold prices recently witnessed a correction as investors and traders booked profits following a four-month-long rally. Spot gold touched a two-week low of $2,357.89 per ounce before paring some of the losses as investors awaited crucial personal consumption expenditure (PCE) data.On Friday, PCE, which is the Federal Reserve’s most preferred gauge of inflation, was reported to be in line with estimates as it rose 2.5% compared to a year ago. The data has increased hopes for a rate cut in September.As gold prices fluctuate and rate-cut expectations gather steam, let’s take a look at what retail investors are thinking about these two popular gold mining stocks.1. Newmont Corporation: Retail sentiment has dipped into neutral territory (51/100) from the extremely bullish zone a day ago for the world’s largest gold miner. The firm, which reported its second quarter earnings on Thursday, topped analyst estimates on multiple counts. The recent dip in retail sentiment can be attributed to the profit-booking in gold. With a rate cut on the cards, gold prices are expected to strengthen further as lower interest rates act in favor of prices of the non-yielding metal.<figure class="image"><a href="https://stocktwits.com/symbol/NEM/sentiment"><img style="aspect-ratio:1254/758;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_2_50_38_PM_12c87f6d86.png" alt="Retail sentiment dips into neutral zone from extremely bullish for Newmont Corporation" width="1254" height="758"></a><figcaption>Retail sentiment dips into neutral zone from extremely bullish for Newmont Corporation</figcaption></figure>During the second quarter, the firm’s earnings per share (EPS) came in at $0.72, better than Wall Street’s estimate of $0.62. Newmont reported attributable gold production at 1.61 million ounces, above the expected 1.56 million ounces. Shares of the firm were trading over 2% higher on Friday, as a result of upbeat earnings.2. Barrick Gold Corp: Retail sentiment has cooled off for Barrick as well, dipping into the neutral territory (47/100) from the bullish zone a day ago. Despite the subdued sentiment, some users with a bullish stance believe the stock is attractive at current levels. One user named SpiceyWingz believes shares of the firm are “super undervalued.”<figure class="image"><a href="https://stocktwits.com/SpiceyWingz/message/580846355"><img style="aspect-ratio:1562/434;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_2_52_00_PM_27bc66e971.png" alt="Stocktwits user SpiceyWingz's post on Barrick Gold." width="1562" height="434"></a><figcaption>Stocktwits user SpiceyWingz's post on Barrick Gold</figcaption></figure>The company recently announced a preliminary Q2 production of 948,000 ounces of gold and 43,000 tonnes of copper, as well as preliminary Q2 sales of 956,000 ounces of gold and 42,000 tonnes of copper. Preliminary Q2 gold production was higher than the first quarter, the firm indicated.Despite the sluggish sentiment, the lackluster interest in these stocks is expected to be short-lived with an interest rate cut expected in September.Photo Courtesy: Pixabay

Newmont, Barrick: After Gold Price Crash, Do Miners Still Shine For Retail Investors?

Retail sentiment has dipped for both Newmont and Barrick following the recent profit-booking in gold prices. However, the lackluster interest is expected to be short-lived with an interest rate cut expected in September

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Newmont, Barrick Gold Mining Stocks Have Rallied. They're Still Cheap.

Newmont, Barrick Gold Mining Stocks Have Rallied. They're Still Cheap...

Retail sentiment flipped into extremely bullish territory (82/100) for Barrick Gold Corp after the miner reported upbeat production figures for the second quarter. The rise in sentiment was supported by extremely high message volumes (85/100), highlighting overwhelming enthusiasm among retail investors. Shares of the firm have risen over 4% on the news.<figure class="image"><img style="aspect-ratio:933/250;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/GOLD_6b069da6b3.png" alt="Stocktwits sentiment meter in extremely bullish territory for Barrick Gold" width="933" height="250"><figcaption>Stocktwits sentiment meter in extremely bullish territory for Barrick Gold</figcaption></figure> The company said its preliminary Q2 gold production stood at 948,000 ounces, and Q2 copper production reached 43,000 tonnes. It also disclosed preliminary Q2 sales of 956,000 ounces of gold and 42,000 tonnes of copper.According to the firm, the preliminary Q2 gold production was higher than the first quarter due to increased production at its Turquoise Ridge facility, following the completed maintenance at the Sage autoclave in Q1. Continued ramp up at Porgera and significant increases at Tongon, North Mara, and Kibali also helped the rise in production figures. Barrick Gold said the production increases were partially offset by planned lower production at its Cortez and Phoenix facilities.For 2024, the firm believes its gold and copper production is expected to progressively increase each quarter with a higher weighting in the second half.Record gold prices have renewed investor attention in gold mining stocks recently. Weak economic data and relatively dovish commentary from the Fed have fueled speculation that a rate cut may be announced as early as September. That’s helped push Stocktwits sentiment for popular miner ETF $GDX into “bullish territory” again on high message volumes.<figure class="image"><img style="aspect-ratio:773/223;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/GOLD_2_79e5415361.png" alt="Stocktwits sentiment meter for VanEck Gold Miners ETF" width="773" height="223"><figcaption>Stocktwits sentiment meter for VanEck Gold Miners ETF</figcaption></figure>As for Wall Street’s expectations, Jefferies recently raised the price target on Barrick Gold to $23 from $22 while maintaining a ‘Buy’ rating on the stock. With the stock currently trading near the $19 level, the revised price target presents an upside potential of nearly 20%. &nbsp;Photo Courtesy: Jingming Pan from Unsplash

Why Retail Investors Turned Extremely Bullish On This Gold Mining Stock

Barrick Gold announced an upbeat set of preliminary production numbers for the second quarter and said the prospects look good for the rest of the year. Meanwhile, record gold prices driven by rate cut expectations are keeping retail bullish on the stock.

A Closer Look at Barrick Gold's Options Market Dynamics

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Gold and Gold-Related Stocks Slump as Hot US Jobs Data Dampens Rate-Cut Hopes

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Barrick Gold Corp. engages in the production and sale of gold, copper, and related activities. It also provides exploration and mining development. It operates through the following business segments: Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, Bulyanhulu, and Other Mines. The company was founded by Peter D. Munk in 1983 and is headquartered in Toronto, Canada.

Volume	21.08M
52-Wk High	$19.45
52-Wk Low	$13.76

GOLD Barrick Gold Corp.

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