10 Cheap Gold Stocks to Invest In Right Now

2. Barrick Gold Corporation (NYSE:GOLD)

Forward P/E: 12.46

Number of Hedge Fund Holders: 44

Barrick Gold Corporation (NYSE:GOLD) is a Canada-based gold and copper producer and seller. The company also engages in related activities, such as exploration and mine development. It has ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania, and the United States.

2024 was a positive year for Barrick Gold Corporation (NYSE:GOLD), with adjusted net earnings per share rising 50% to $1.26. It saw an EBITDA increase of 30%, and EBITDA margins grew quarterly and for the year. The company maintained its quarterly dividend at $0.10 per share and repurchased nearly $500 million of its shares in fiscal Q4 2024, taking the total for the year to almost $500 million.

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. 44 hedge funds hold stakes in Barrick Gold Corporation (NYSE:GOLD) as of fiscal Q4 2024. Jean-Marie Eveillard’s First Eagle Investment Management is the company’s largest shareholder with 46.5 million shares worth $721.8 million.