5 Best Gold Stocks Under $50

2. Barrick Gold Corporation (NYSE:GOLD)

Number of Hedge Fund Holders: 41

Share Price as of July 24: $17.40

Barrick Gold Corporation (NYSE:GOLD) is involved in exploring, developing, producing, and selling gold and copper properties. The company owns and operates gold mines in multiple countries, including Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States. Barrick Gold Corporation (NYSE:GOLD) is one of the best gold stocks to invest in. 

On July 13, Barrick Gold Corporation (NYSE:GOLD) announced its preliminary Q2 production figures, comprising 1.01 million ounces of gold and 107 million pounds of copper. These numbers represent an increase compared to the previous quarter’s production of 952,000 ounces of gold and 88 million pounds of copper. Barrick Gold Corporation (NYSE:GOLD) expressed confidence in achieving its full-year gold and copper production targets. Furthermore, the company anticipates that production will continue to rise throughout the year, with the second half of the year exceeding the levels achieved in the first half.

According to Insider Monkey’s first quarter database, 41 hedge funds were bullish on Barrick Gold Corporation (NYSE:GOLD), compared to 40 funds in the last quarter. Ken Griffin’s Citadel Investment Group is a prominent stakeholder of the company, with 8.4 million shares worth $157 million. 

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