6 Most Profitable Gold Stocks To Buy Now

1. Barrick Gold Corporation (NYSE:GOLD) 

Number of Hedge Fund Investors: 42

5-Year Net Income CAGR: 3.27%

TTM Net Income: $1,62 Billion

Barrick Gold Corporation (NYSE:GOLD) is a global mining company specializing in gold and copper exploration, development, production, and sales. The company operates a diversified portfolio of high-performing mines in regions such as Argentina, Canada, Africa, and the U.S.

Barrick Gold Corporation (NYSE:GOLD) is actively capitalizing on its high-grade gold assets to enhance production and profitability. The company’s flagship operations, such as Nevada Gold Mines (NGM) in the United States, Pueblo Viejo in the Dominican Republic, and Kibali in the Democratic Republic of Congo, are key drivers of its growth. In Nevada, the company is making significant investments in infrastructure and equipment to recapitalize the Nevada Gold Mines complex for the next decade. This includes the expansion of the Gold Quarry roaster, a device that uses a roasting process to treat gold concentrates, which has now reached full capacity. These initiatives are designed to maintain and increase production while keeping costs under control.

Barrick Gold Corporation (NYSE:GOLD) is also focusing on exploration to replace and grow its gold reserves. The company’s near-mine exploration programs have been successful in identifying and developing new opportunities close to existing infrastructure. Additionally, Barrick Gold Corporation (NYSE:GOLD) is making strategic investments in several growth projects to secure its future as a leading gold producer.

While we acknowledge the potential of Barrick Gold Corporation (NYSE:GOLD) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GOLD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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