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Gold Stocks To Follow Today - October 2nd

Newmont logo with Basic Materials background

Key Points

  • Newmont, Freeport-McMoRan, and Barrick Mining are the top gold stocks to watch today, based on recent trading volume and market analysis.
  • These companies provide investors with leveraged exposure to gold prices, although they also face operational and geopolitical risks.
  • Barrick Gold Corporation recently merged with Randgold Resources and formed a joint venture with Newmont for their Nevada gold mines, enhancing its position in the sector.
  • Five stocks to consider instead of Newmont.

Newmont, Freeport-McMoRan, and Barrick Mining are the three Gold stocks to watch today, according to MarketBeat's stock screener tool. Gold stocks are equity shares of companies involved in the exploration, mining, refining or trading of gold. By holding these stocks, investors gain leveraged exposure to movements in gold prices, since a miner’s profitability tends to rise and fall with bullion values. However, they also carry additional operational, geopolitical and management risks beyond those affecting the price of the metal itself. These companies had the highest dollar trading volume of any Gold stocks within the last several days.

Newmont (NEM)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

Read Our Latest Research Report on NEM

Freeport-McMoRan (FCX)

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

Read Our Latest Research Report on FCX

Barrick Mining (B)

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

Read Our Latest Research Report on B

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