Fears surrounding higher interest rates reemerged after today's hotter-than-expected inflation data for January. While the reading is also impacting gold prices, the precious metal is fresh off a record-setting run in response toPresident Donald Trump's tariffs, which boosted demand for the safe-haven commodity as investors monitor a potential trade war. Below, let's check in with two gold mining giants amid corporate earnings.
GOLD Eyes Best Day Since August
Barrick Gold Corp (NYSE:GOLD) stock is up 6.1% to trade at $18.11 at last glance -- its highest level since November -- after the company beat fourth-quarter profit estimates and unveiled a $1 billion share buyback program. On track for its best day since August, GOLD sports a 28.7% year-over-year lead, and earlier conquered its 100-day moving average.
Options volume is running at triple the intraday average volume today, with 69,000 calls and 18,000 puts exchanged so far today. The most popular contract by far is the March 80 call.
NEM Gears Up for Earnings
Newmont Corporation (NYSE:NEM) will announce fourth-quarter results after the market closes on Thursday, Feb. 20. The security was last seen up 1.9% to trade at $46.37, and sports a 44.1% year-over-year lead, with 24% added just this year. The shares started the week with a pop to their highest level since late October, and are consolidating above their own 100-day trendline.
Newmont stock has a mixed history of post-earnings reactions, finishing four of its last eight next-day sessions higher, and four lower. This includes a 14.7% drop after its most recent earnings report. The security averaged a move of 6.2% over the past two years, regardless of direction, and this time the options pits are pricing in a larger swing of 8.1%.
As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.
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