Barrick Mining Corp. (ABX:CA) (B)
Analyst Updates
Stifel Nicolaus raised its 12 month price target on Barrick’s stock to $95.00 from $65.00, while maintaining a Buy rating. The significant upward revision incorporates higher long-term gold price forecasts, stronger free cash flow generation at current spot prices, and improved visibility on operating performance across Barrick’s core Tier One assets. The firm’s Buy recommendation suggests confidence in Barrick’s ability to expand margins in a favorable bullion environment, supported by disciplined capital allocation and balance sheet strength.
National Bank Financial reduced its 12 month price target to $75.00 from $82.50 but maintained an Outperform rating. While the lower target may reflect adjustments to cost assumptions, project timelines, or near-term production expectations, the continued Outperform stance indicates that the firm still expects Barrick to exceed sector returns. The revision suggests a more conservative valuation framework despite constructive long-term fundamentals.
Citigroup raised its 12 month price target to $65.00 from $51.50 while maintaining a Neutral rating. Citi’s upward revision appears tied to higher gold price assumptions and improved operational stability, yet the Neutral recommendation implies a balanced risk-reward profile at current valuation levels. This stance may reflect concerns around execution risks, geopolitical exposure, or relative upside compared with peers.
Overall, consensus revisions underscore the sensitivity of Barrick’s valuation to gold price trajectories, cost discipline, and asset-level performance. While price targets diverge, the prevailing tone remains constructive, with most analysts acknowledging the company’s leverage to bullion prices and its strategic positioning within the global gold mining sector.
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