Gold Stocks Shine: Barrick Mining, Newmont Corp., and Desert Gold Ventures Make Moves

Barrick Mining and Newmont Corp., two heavyweights in the gold sector, are poised for a rebound due to their disciplined cost management and rising gold prices. Barrick Mining has already shattered analyst estimates with its first-quarter earnings per share of USD 0.96, compared to USD 0.81 expected. The stock is currently trading at around USD 47 and could break above USD 55, potentially reaching as high as USD 70.

Newmont Corp., on the other hand, is trading at USD 120.70 and heading toward its high of USD 134.79. If it breaks above USD 135, it could continue up to USD 160.

However, investors seeking extra momentum may want to consider Desert Gold Ventures, which is transforming from a pure-play explorer into a potential gold producer. The company has made significant progress with the installation of the Barani gravity plant at its SMSZ project in Mali, with over 52,000 sqm cleared and foundations for the plant and workshops under construction.

Desert Gold's stock has gained momentum following its latest financing round and could make a decisive leap if it breaches the CAD 0.15 mark. Analysts see a price target of EUR 0.59 or CAD 0.95, representing significant upside potential.