How Major Gold Stocks Are Responding to the Brexit

Commodities & Metals

Published: July 3, 2016 6:43 am

Last Updated: January 13, 2020 6:07 am

Gold has been on an absolute tear in 2016, especially considering the currency fears that many had going into the Brexit vote. Now more than ever investors were looking to hedge their portfolios with Gold to protect themselves from the market fallout.

Although the Brexit did pull markets back across the board, everything seemingly recovered and then some after a few trading days. Considering this the Brexit looks to be just one big head fake.

24/7 Wall St. has picked some of the leading companies in this industry and tracked them since the Brexit. We have included a recent trading history, consensus analyst price target, and 52-week trading range.

Barrick Gold Corp. (NYSE: ABX) saw its stock drop as low as $19.97 after the Brexit but since then it has made a solid recovery (10%). Shares of Barrick were last trading at $22.01, with a consensus analyst price target of $18.50 and a 52-week trading range of $5.91 to $22.14.

Newmont Mining Corp. (NYSE: NEM) watched its shares make a decent gain over the week with the stock up 7.9% during this time. Shares of Newmont were last trading at $40.13, with a consensus analyst price target of $39.47 and a 52-week trading range of $15.39 to $40.15.

Goldcorp Inc. (NYSE: GG) saw its shares rise about 6.9% over the course of the week. Shares were last trading at $19.64, with a consensus analyst price target of $20.32 and a 52-week trading range of $9.46 to $20.24.

Franco-Nevada Corp. (NYSE: FNV) saw its shares take only a slight increase of 8.4% since the Brexit vote. Shares were last trading at $78.52, with a consensus analyst price target of $66.81 and a 52-week trading range of $38.20 to $78.55.

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