12 Most Promising Gold Stocks According to Hedge Funds

3. Barrick Gold Corporation (NYSE:GOLD) 

Number of Hedge Fund Investors: 42

Barrick Gold Corporation (NYSE:GOLD) is a global mining company engaged in the exploration, development, production, and sale of gold and copper. The company operates a diverse portfolio of high-performing mines located in regions such as Argentina, Canada, Africa, and the United States.

Barrick Gold Corporation (NYSE:GOLD) is leveraging its high-grade gold assets to boost production and profitability. Key drivers of the company’s growth include flagship operations like Nevada Gold Mines (NGM) in the United States, Pueblo Viejo in the Dominican Republic, and Kibali in the Democratic Republic of Congo. In Nevada, the company is investing heavily in infrastructure and equipment to modernize the Nevada Gold Mines complex for the next decade. This includes the expansion of the Gold Quarry roaster, a facility that processes gold concentrates through roasting, which has now achieved full capacity. These efforts aim to sustain and enhance production while maintaining cost efficiency.

Barrick Gold Corporation (NYSE:GOLD) is also prioritizing exploration to expand its gold reserves. The company’s near-mine exploration programs have successfully identified new opportunities close to existing infrastructure. Furthermore, the company is making strategic investments in various growth projects to secure its position as a leading gold producer in the future.