10 Best Gold Mining Stocks to Buy Now

2. Barrick Gold Corp (NYSE:GOLD)

Number of Hedge Fund Investors: 51

Barrick Gold Corp (NYSE:GOLD) shares are down 2% so far this year. Barrick Gold Corp (NYSE:GOLD) posted weak Q1 results amid lower production and issues at some of its assets and facilities. However, analysts believe the stock’s set for long-term growth. Barrick Gold Corp (NYSE:GOLD) expects growth at its Dominican Republic gold mine Pueblo Viejo starting the second half of 2024.  Barrick Gold Corp (NYSE:GOLD) also sees improvement in copper production, with higher grades expected later in the year. Estimates suggest Barrick Gold Corp (NYSE:GOLD) would generate about $1.1 billion in free cash flow in 2024 and up to $2.5 billion in free cash flow in FY2025. This makes Barrick Gold Corp (NYSE:GOLD) an attractive stock to buy on the dip.

Barrick Gold Corp (NYSE:GOLD) is one of the best gold mining stocks to buy according to hedge fund investors. As of the end of the first quarter of 2024, 51 hedge funds reported owning stakes in Barrick Gold Corp (NYSE:GOLD).