10 Cash-Rich Undervalued Stocks To Invest In

6. Barrick Gold Corporation (NYSE:GOLD)

P/E Ratio as of March 3: 14.55

TTM Operating Cash Flow as of December 31, 2024: $4,491,000,000

Number of Hedge Fund Holders: 44

Barrick Gold Corporation (NYSE:GOLD) ranks 6th on our list of the best cash rich stocks. It is a Toronto-based mining company specializing in gold and copper exploration, development, production, and distribution. Barrick Gold saw a big jump in its gold reserves, which climbed 23% to 17.4 million ounces by the end of 2024, driven by its Reko Diq copper-gold project. After completing a feasibility study, the company added 13 million ounces to its probable reserves. Barrick owns half of the project, while the rest is controlled by Pakistan’s federal and provincial governments.

2024 was a good year for Barrick Gold Corporation (NYSE:GOLD), with adjusted earnings per share jumping 50% to $1.26. The company maintained its quarterly dividend at $0.10 per share and repurchased nearly $500 million in stock. It also added major new gold and copper reserves, bringing total replacements to the equivalent of 73 million ounces of gold. Gold production climbed 15% from the previous quarter, while costs went down. Copper output also hit a new high.

According to Insider Monkey’s Q4 database, 44 hedge funds were long Barrick Gold Corporation (NYSE:GOLD), compared to 42 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management was the leading stakeholder of the company, with 46.5 million shares worth $721.8 million.