Latest Developments:
In 3Q24, Barrick Gold reported $3.37 billion in revenue, showing 17.68% YoY and 6.51% QoQ growth. The company exceeded estimates by $31.17 million. GOLD continues to benefit from rising gold prices and strong demand, particularly from central banks. With ongoing cost discipline, the company is poised to produce 4.1 million ounces of gold in 2024, with a 30% production increase expected by 2030.

Investment Case:
Barrick Gold is well-positioned to capitalize on sustained demand for gold, especially from central banks. The company's robust pipeline and strategic projects in North America, Latin America, and Africa support its growth. Coupled with consistent free cash flow generation, GOLD offers a compelling investment with the potential for a 41% upside, making it an attractive alternative to direct gold investments.

Valuation:
A DCF valuation suggests Barrick Gold's share price could rise to $25, representing a 41% upside from current levels. Even with conservative assumptions, the company still shows potential for a 22% upside, offering significant room for growth and shareholder returns.

Disclaimer: The above is an excerpt on a report written by our close associate, Selendis Research. Interested parties may check out the full report here on Seeking Alpha. All information provided is intended solely for general informational purposes. Seven Insights does not take into account individual financial goals or situations and does not provide personalized investment advice. Seven Insights is not a licensed securities dealer, broker, U.S. investment adviser, or investment bank.