Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - RBC Capital has raised its price target on Barrick Mining (NYSE:B) to $40.00 from $38.00 while maintaining an Outperform rating on the stock. According to InvestingPro data, Barrick currently trades at $31.70, with analyst targets ranging from $27 to $50, suggesting significant upside potential. The company boasts a "GREAT" overall financial health score.
The price target increase follows unconfirmed media reports that Newmont is evaluating potential merger and acquisition opportunities with Barrick Mining.
RBC Capital notes that despite Newmont having previously indicated a low preference for M&A activity, the company could be motivated to advance discussions with Barrick given what it describes as "the highly logical nature of a deal."
The firm points to Barrick’s current CEO vacancy and growing complexity associated with Newmont’s Fourmile joint venture acquisition as additional factors that could drive merger talks.
RBC Capital continues to view Barrick shares as discounted and sees potential for upside on a standalone basis, through a break-up scenario, or via M&A activity.
In other recent news, Barrick Gold Corporation has seen significant developments. The company has restarted operations at its Loulo-Gounkoto gold complex in Mali after a nine-month shutdown. This closure was due to a dispute with Mali’s military-led government, which had previously blocked exports and detained senior employees. Additionally, a Bloomberg report suggests that Newmont Corporation is exploring a potential acquisition of Barrick’s Nevada gold mining assets, where it currently holds a minority stake in a joint venture. In analyst updates, Freedom Capital Markets raised its price target for Barrick Mining to $42 from $20.50, maintaining a Buy rating, reflecting the company’s strategic shift towards a diversified metals and copper leader. Meanwhile, Bernstein has revised its gold price forecast to $4,000 per ounce through 2029, indicating a strong support level for the precious metal. This revision aligns with the recent surge in gold prices, which reached a record high of $3,831.44. Silver prices also saw an increase, hitting their highest level in over 14 years.
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