Barrick Mining Stock Rises 18% Amid Bullish Sentiment
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Benzinga
- Stock Performance: Barrick Mining's stock has risen 18% since the beginning of January and skyrocketed 220% over the past 52 weeks, reflecting strong market demand for gold and investor optimism.
- Central Bank Demand: According to the World Gold Council, central banks are acquiring an average of 60 tons of gold per month, more than triple the pre-2022 pace, providing robust support for the precious metals market.
- Market Volatility: Despite a positive long-term outlook, short-term price corrections may occur, particularly as investors in the options market are buying put options to hedge against potential downside risks, indicating concerns about price pullbacks.
- Future Expectations: Barrick Mining's stock is expected to fluctuate between $48 and $53 over the next 10 weeks, reflecting market anticipation of potential price adjustments while also offering short-term trading opportunities for aggressive investors.
Analyst Views on B
Wall Street analysts forecast B stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for B is 46.72 USD with a low forecast of 38.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 52.170
Low
38.00
Averages
46.72
High
55.00
Current: 52.170
Low
38.00
Averages
46.72
High
55.00
About B
Barrick Mining Corporation is a gold and copper producer, which is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Papua New Guinea, Tanzania and the United States. Its copper mines are located in Zambia, Chile and Saudi Arabia. Its operations include Nevada Gold Mines, Bulyanhulu, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Veladero and Zaldivar. Its Bulyanhulu operation is located in north-west Tanzania, over 55 kilometers (km) south of Lake Victoria and 150 km southwest of the city of Mwanza. The Jabal Sayid copper operation is located approximately 350 km north-east of Jeddah in the Kingdom of Saudi Arabia. The Lumwana copper mine is a conventional open pit operation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
