Freedom Capital Markets raises Barrick Mining stock price target to $42

Investing.com - Freedom Capital Markets has raised its price target on Barrick Mining (NYSE:B) to $42.00 from $20.50 while maintaining a Buy rating on the stock. The new target aligns with broader analyst optimism, as InvestingPro data shows the stock has already delivered an impressive 122% return year-to-date.

The significant price target increase reflects Barrick Mining’s strategic transformation from a pure-play gold producer to a diversified precious metals and copper leader, according to Freedom Capital Markets. The company’s transformation is backed by solid fundamentals, earning a "GREAT" financial health score and a perfect Piotroski Score of 9 on InvestingPro, which offers 12 additional exclusive insights about the company.

The research firm highlighted Barrick’s $12 billion growth pipeline, which positions the company for 30% production growth by 2030, as a key factor in the upgraded price target.

Freedom Capital Markets identified several upcoming catalysts, including Fourmile development approval anticipated in Q1 2026, followed by underground construction commencement.

The firm also noted that Reko Diq and Lumwana expansion projects are both targeted for 2028 production start, creating what it described as a synchronized growth inflection that will reshape Barrick’s production and cash flow profiles.

In other recent news, Barrick Mining Corporation announced the appointment of Mark Hill as the interim President and CEO, following the departure of Mark Bristow after nearly seven years. Hill, who has been with Barrick since 2006, was previously responsible for the company’s operations in Latin America and the Asia Pacific regions. In a separate development, BMO Capital raised its price target for Barrick Gold to C$41.00, citing improvements in the Nevada Gold Mines district, which has faced challenges in recent years. Similarly, RBC Capital increased its price target for Barrick Mining to $38.00, maintaining an Outperform rating after visiting the Nevada Gold Mines complex.

Additionally, gold stocks, including Barrick, saw gains as gold prices surged to a record high of $3,831.44, following a Federal Reserve rate cut. Silver prices also reached their highest level since May 2011, contributing to the positive sentiment around mining stocks. The NYSE Arca Gold Miners Index rose to a record high as a result of these developments. These recent changes provide a fresh outlook for investors monitoring Barrick Mining Corporation and the broader mining sector.

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