What's Going On With Barrick Gold Stock?

Barrick Gold Corporation GOLD shares are trading higher Friday, and the stock has gained more than 7% over the past five days. 

What To Know:

The gold miner's stock continues to climb as the price of gold set a record high Friday at $2,330.50 per ounce.

According to Barrick's 2024 Information Circular, the company is prepared to use its operational cash flows to fund existing and new organic growth projects. 

“Barrick’s footprint is being expanded and currently comprises mines, projects and exploration programs in 18 countries across four continents, covering the main prospective regions for gold and copper,” said Barrick's chairman John Thornton. 

According to a report from Gestion, Barrick has submitted a request for a 400-hectare concession in Puno, Peru, where it conducted exploration activities two years ago.  

Barrick Gold shares are moving on above-average trading volume Friday with more than 30.4 million shares traded in the session. According to data from Benzinga Pro, the stock’s 100-day average volume is 21.21 million shares.

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How To Buy GOLD Stock:

By now you're likely curious about how to participate in the market for Barrick Gold – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

GOLD Price Action: According to Benzinga Pro, Barrick Gold shares are up 2.73% at $17.87 at the time of publication Friday.

Image: Hans from Pixabay