12 Best Gold Stocks to Invest In According to Billionaires

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6. Barrick Mining Corporation (NYSE:GOLD)

Number of Billionaire Investors: 10

Number of Hedge Fund Holders: 44

With activities in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of the Congo, Papua New Guinea, the Dominican Republic, Tanzania, and the United States, Barrick Mining Corporation (NYSE:GOLD) is a company that explores, develops, and produces gold and copper resources. In addition, it owns exploration and development projects in the Americas, Asia, and Africa, as well as producing copper assets in Zambia, Saudi Arabia, and Chile. As of Q4 2024, billionaire stakes of the firm were valued at $459.8 million, making it one of the best gold stocks.

As anticipated, Barrick Mining Corporation (NYSE:GOLD) reported $0.46 in earnings per share for the fourth quarter of 2024, which ended on March 31, 2025. The company produced strong financial results, with yearly adjusted net earnings of $1.26 per share, up 50% from 2023, and a 30% year-over-year rise in EBITDA. The quarter’s operating cash flow increased 18% to $1.4 billion, helping to reach the highest full-year total since 2020 of $4.5 billion. In 2024, Barrick gave $500 million back to shareholders in dividends and share buybacks, while free cash flow doubled to $1.3 billion.

Operationally, Barrick Mining Corporation (NYSE:GOLD) achieved a 15% quarter-over-quarter production growth in Q4 and decreased expenses, meeting its full-year gold production estimate. Its assets in Nevada improved significantly, and the Lumwana copper mine produced at a record rate. However, export limitations and team member detention caused Loulo-Gounkoto in Mali to experience a disruption in operations, resulting in the mine being placed under temporary care and repair.

With significant projects like the extension of Pueblo Viejo and the Reko Diq copper-gold project in Pakistan, which has a projected 36-year mine life and may produce $74 billion in free cash flow, Barrick Mining Corporation (NYSE:GOLD) is strategically putting long-term growth first. Additionally, the Lumwana Super Pit Expansion has been advanced by the company, adding 20 years to the mine’s lifespan. By 2030, management hopes to raise gold equivalent ounces by more than 30%, and higher capital deployment is anticipated across these significant developments.

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