Barrick Gold Corp. (ABX:CA) (B)
Cormark Securities upgraded Barrick Mining Corp. to Buy from Market Perform, citing a compelling valuation opportunity and improving operational execution across its core gold and copper assets. Analysts highlighted that Barrick’s recent financial results demonstrated a stronger production outlook and tighter cost control, which should translate into margin expansion over the next several quarters, particularly as gold prices remain elevated above historical averages.
The analyst stated that management’s enhanced focus on capital discipline and asset optimization has improved project delivery timelines and reduced operational risks, especially at key mines in Nevada, the Dominican Republic, and Tanzania. This renewed consistency in execution underpins Cormark’s confidence in Barrick’s ability to deliver steady free cash flow and maintain one of the strongest balance sheets in the sector.
Longer term, the firm pointed to the Fourmile expansion project, located adjacent to the prolific Cortez complex in Nevada, as a major driver of future growth. The project is expected to significantly boost production capacity and extend mine life while improving overall grade quality. Cormark also sees upside from Barrick’s growing copper portfolio, which enhances diversification and provides a strategic hedge against volatility in precious metals.
The upgrade reflects Cormark’s view that Barrick is entering a new phase of operational stability and growth, with improving cost visibility, strong project pipelines, and favorable commodity pricing dynamics positioning the stock for meaningful upside over the next 12 months.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
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It’s great to see Barrick being recognized for its improved operational execution and cost control, especially at its core mines. The focus on capital discipline seems to be paying off, and the Fourmile project could be a real game-changer in terms of production and longevity.