With interest rate cuts just around the corner, gold prices are up to a record high of $2,550. From here, the safe haven could push even higher with uncertainty over the nearing presidential election and geopolitical issues. All of which could be beneficial for gold stocks, including U.S. Gold Corp. (NASDAQ: USAU), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Royal Gold Inc. (NASDAQ: RGLD), Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Newmont Corp. (NYSE: NEM) (TSX: NGT).
"Growing concerns around the geopolitical landscape, domestic unrest driven by a hypersensitive presidential election year, and heightened anxiety in a challenging economic environment sets a backdrop for consumers to seek refuge in some semblance of safety," added Sean Mason, an investment advisor representative with Fresno Financial Advisors, as quoted by CBS News.
In addition, analysts at Morningstar say gold could reach $2,600 by 2025. It could even rally to $3,000 by 2025, according to Bank of America. In fact, according to the analysts, "We believe gold can hit $3,000/oz over the next 12-18 months, although flows do not justify that price level right now," as quoted by Investing.com. Goldman Sachs says it could rally to $2,700 by 2025.
Look at U.S. Gold Corp. (NASDAQ: USAU)
U.S. Gold Corp., a gold exploration and development company, is pleased to announce it will be attending the Gold Forum Americas 2024 Conference at the Broadmoor Hotel & Resort in Colorado Springs, Colorado, being held September 15-18, 2024.
The Conference is the world’s oldest and most prestigious precious commodity equities investment forum. Presented every year since 1989, the Conference showcases the leading publicly traded gold and silver companies when measured by production or reserves. The invitation-only 36th Annual Gold Forum is attended by the world’s leading specialist precious metal investors as well as generalist institutional investors, private equity, and hedge funds. Buy- and sell-side analysts from around the world make up the balance of the participants.
Event: Denver Gold Group - Gold Forum Americas 2024 Conference
Date: September 15–18, 2024
Corporate Presentation: Mr. George Bee will be providing an update on U.S. Gold’s projects on September 18, 2024 @ 8:50am Mountain Time. To view the presentation please use the following link: U.S. Gold Corp. Presentation - September 18, 2024
Location: Broadmoor Hotel & Resort, Colorado Springs, CO
Registration: Invitation Only
During the Conference, U.S. Gold’s management team will be participating in a number of meetings with institutional investors and conference attendees.
Other related developments from around the markets include:
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 earnings1 were up 25% and the attributable EBITDA margin2 was up 17% quarter on quarter to 48% with strong operating cash flows of $1.16 billion and a material increase in free cash flow3 to $340 million. Net earnings per share were up 24% to $0.21, adjusted net earnings per share3 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.
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.
Franco Nevada announced that its wholly-owned subsidiary has acquired from Compan~i´a de Minas Buenaventura S.A.A. and its subsidiary, an existing 1.8% net smelter return royalty on all minerals covering Newmont Corporation’s Yanacocha mine and adjacent mineral properties located in Peru. Consideration for the Royalty consists of $210 million paid in cash on closing, plus a contingent payment of $15 million in Franco-Nevada common shares, payable upon achievement of certain conditions. “We are pleased to partner with Buenaventura to acquire this existing Royalty which adds immediately cash flowing gold production and growth from a leading gold operator,” said Paul Brink, President & CEO of Franco-Nevada. “Yanacocha has been one of the largest gold mines globally and the district covered by the Royalty remains highly prospective with over 47 Moz AuEq in total reserves and resources. The Royalty covers current oxide production, the planned sulfide project and high-quality growth projects, including Conga, which together have the potential to add decades of contributions to Franco- Nevada.”
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."
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.
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