The sustained rally for gold, which has risen more than 50% in price since October 2022, appears poised to continue through the next month and possibly beyond. This impressive gold rally has helped trigger higher upside for many of the more notable gold stocks, including U.S. Gold Corp. (NASDAQ: USAU), Newmont Corp. (NYSE: NEM) (TSX: NGT), Wheaton Precious Metals Corp. (NYSE: WPM), Royal Gold, Inc. (NASDAQ: RGLD), and Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX). Higher gold prices are being sustained by the potential for a Federal Reserve interest rate cut at its September meeting as well as aggressive purchasing of gold by central banks worldwide. A number of analysts, including those at Citi, Bank of America and ING, have gone on record with calls for higher gold prices through the end of the year.
“You’ve seen the central banks are buying, so I think that’s the key right now, is the right people are buying it. You’re getting a ripe, fresh environment for gold. I think new highs are ahead for gold,” said Kevin Grady, President of Phoenix Futures and Options, as quoted by Kitco News. “I think right now the time is prime for gold. It’s like the perfect storm in a positive way for gold, so I think you’re going to be seeing higher prices.”
U.S. Gold Corp. (NASDAQ: USAU) Also Appears Well-Positioned
U.S. Gold Corp. just announced that it will be attending the 2024 Precious Metals Summit (the “Summit”) in Beaver Creek, CO being held September 10-13, 2024.
The Summit is the world’s premier independent investment conference focused on explorers, developers and emerging producers of gold, silver and platinum group metals. This by-invitation-only event will bring together institutional investors, sell-side representatives and corporate executives from senior precious metals companies with management teams of close to 200 carefully selected, highly prospective issuers representing the world’s mining and mineral exploration sectors.
During the Summit, U.S. Gold’s management team will be delivering a presentation and will also be available for meetings with institutional investors and conference attendees.
“We are excited to be attending the 2024 Precious Metals Summit in Beaver Creek as it allows us to join the most influential leaders in mining and mineral exploration along with institutional investors, sell-side representatives and corporate executives. We look forward to sharing the value proposition of U.S. Gold with the investment community and those in the precious metals space while gaining increased exposure for our CK Gold Project,” commented George M. Bee, U.S. Gold President & CEO.
Other related developments in the gold space include:
Wheaton Precious Metals Corp. announced second quarter results for 2024, with operating cash flows of $234 million and record cash flows of over $450 million for the first half of the year. The company confirmed that it is well on its way to meet its annual production goals and continues to pursue growth opportunities while emphasizing its dedication to sustainability. In addition, the company declared its third quarterly cash dividend payment for 2024 of $0.155 per share.
Newmont Corp. announced second quarter 2024 results and declared a second quarter dividend of $0.25 per share. "Newmont delivered a solid second quarter, producing 2.1 million gold equivalent ounces and generating $594 million in free cash flow," said Tom Palmer, Newmont's President and CEO. "We continued to advance our divestiture program and, to date, have announced $527 million in proceeds this year. With this momentum, we completed $250 million in share repurchases and repaid $250 million in debt. As we head into the second half of the year, we remain confident in our ability to continue executing on shareholder returns, meet our full year guidance and deliver on our commitments."
Royal Gold announced that its Board of Directors has declared its fourth quarter dividend of $0.40 per share of common stock. The dividend is payable on Friday, October 18, 2024, to shareholders of record at the close of business on Friday, October 4, 2024. The company also reported net income of $81.2 million, or $1.23 per share, for the quarter ended June 30, 2024 on revenue of $174.1 million and operating cash flow of $113.5 million. Adjusted net income was $82.6 million, or $1.25 per share.
Barrick Gold reported increased earnings and production for its second quarter, in line with guidance, and said the Company was on track for a strong second half of the year. Net earnings were up 25% and the attributable EBITDA margin was up 17% quarter on quarter to 48% with strong operating cash flows of $1.16 billion and a material increase in free cash flow to $340 million. Net earnings per share were up 24% to $0.21, adjusted net earnings per share increased by 68% to $0.32, and the quarterly dividend was maintained at $0.10 per share. President and chief executive Mark Bristow said while steering the Company towards the achievement of its 2024 guidance, management was also maintaining its focus on value creation and growth.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for U.S. Gold Corp. by U.S. Gold Corp. We own ZERO shares of U.S. Gold Corp. Please click here for disclaimer.
Contact:
Ty Hoffer
Winning Media
281.804.7972
[email protected]
The sustained rally for gold, which has risen more than 50% in price since October 2022, appears poised to continue through the next month and possibly beyond. This impressive gold rally has helped trigger higher upside for many of the more notable gold stocks, including U.S. Gold Corp. (NASDAQ: USAU), Newmont Corp. (NYSE: NEM) (TSX: NGT), Wheaton Precious Metals Corp. (NYSE: WPM), Royal Gold, Inc. (NASDAQ: RGLD), and Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX). Higher gold prices are being sustained by the potential for a Federal Reserve interest rate cut at its September meeting as well as aggressive purchasing of gold by central banks worldwide. A number of analysts, including those at Citi, Bank of America and ING, have gone on record with calls for higher gold prices through the end of the year.
“You’ve seen the central banks are buying, so I think that’s the key right now, is the right people are buying it. You’re getting a ripe, fresh environment for gold. I think new highs are ahead for gold,” said Kevin Grady, President of Phoenix Futures and Options, as quoted by Kitco News. “I think right now the time is prime for gold. It’s like the perfect storm in a positive way for gold, so I think you’re going to be seeing higher prices.”
U.S. Gold Corp. (NASDAQ: USAU) Also Appears Well-Positioned
U.S. Gold Corp. just announced that it will be attending the 2024 Precious Metals Summit (the “Summit”) in Beaver Creek, CO being held September 10-13, 2024.
The Summit is the world’s premier independent investment conference focused on explorers, developers and emerging producers of gold, silver and platinum group metals. This by-invitation-only event will bring together institutional investors, sell-side representatives and corporate executives from senior precious metals companies with management teams of close to 200 carefully selected, highly prospective issuers representing the world’s mining and mineral exploration sectors.
During the Summit, U.S. Gold’s management team will be delivering a presentation and will also be available for meetings with institutional investors and conference attendees.
“We are excited to be attending the 2024 Precious Metals Summit in Beaver Creek as it allows us to join the most influential leaders in mining and mineral exploration along with institutional investors, sell-side representatives and corporate executives. We look forward to sharing the value proposition of U.S. Gold with the investment community and those in the precious metals space while gaining increased exposure for our CK Gold Project,” commented George M. Bee, U.S. Gold President & CEO.
Other related developments in the gold space include:
Wheaton Precious Metals Corp. announced second quarter results for 2024, with operating cash flows of $234 million and record cash flows of over $450 million for the first half of the year. The company confirmed that it is well on its way to meet its annual production goals and continues to pursue growth opportunities while emphasizing its dedication to sustainability. In addition, the company declared its third quarterly cash dividend payment for 2024 of $0.155 per share.
Newmont Corp. announced second quarter 2024 results and declared a second quarter dividend of $0.25 per share. "Newmont delivered a solid second quarter, producing 2.1 million gold equivalent ounces and generating $594 million in free cash flow," said Tom Palmer, Newmont's President and CEO. "We continued to advance our divestiture program and, to date, have announced $527 million in proceeds this year. With this momentum, we completed $250 million in share repurchases and repaid $250 million in debt. As we head into the second half of the year, we remain confident in our ability to continue executing on shareholder returns, meet our full year guidance and deliver on our commitments."
Royal Gold announced that its Board of Directors has declared its fourth quarter dividend of $0.40 per share of common stock. The dividend is payable on Friday, October 18, 2024, to shareholders of record at the close of business on Friday, October 4, 2024. The company also reported net income of $81.2 million, or $1.23 per share, for the quarter ended June 30, 2024 on revenue of $174.1 million and operating cash flow of $113.5 million. Adjusted net income was $82.6 million, or $1.25 per share.
Barrick Gold reported increased earnings and production for its second quarter, in line with guidance, and said the Company was on track for a strong second half of the year. Net earnings were up 25% and the attributable EBITDA margin was up 17% quarter on quarter to 48% with strong operating cash flows of $1.16 billion and a material increase in free cash flow to $340 million. Net earnings per share were up 24% to $0.21, adjusted net earnings per share increased by 68% to $0.32, and the quarterly dividend was maintained at $0.10 per share. President and chief executive Mark Bristow said while steering the Company towards the achievement of its 2024 guidance, management was also maintaining its focus on value creation and growth.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for U.S. Gold Corp. by U.S. Gold Corp. We own ZERO shares of U.S. Gold Corp. Please click here for disclaimer.
Contact:
Ty Hoffer
Winning Media
281.804.7972
[email protected]
