Barrick Mining, the Basic Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Lawson Winder from Bank of America Securities maintained a Buy rating on the stock and has a $58.00 price target.
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Lawson Winder has given his Buy rating due to a combination of factors that underline Barrick’s improving fundamentals and shareholder return profile. He highlights the company’s strong Q4 2025 performance, where both EBITDA and adjusted EPS exceeded internal and market expectations, supported by better-than-forecast gold and copper sales. Although the 2026 guidance for gold production and unit costs is somewhat underwhelming versus prior expectations, he views these targets as realistic and attainable. In addition, Barrick’s robust balance sheet, with net cash significantly higher than the prior quarter and ahead of forecasts, and solid free cash flow generation support a constructive outlook.
Winder also underscores the appeal of Barrick’s revised capital return framework, which introduces a higher, more predictable base dividend supplemented by an additional payout tied to free cash flow, targeting roughly half of annual free cash flow to shareholders. The planned IPO of a minority stake in the North American assets, while raising questions about the degree of value crystallization, is expected to unlock meaningful cash proceeds for the company. He further points to the quality of Barrick’s asset base, its exploration upside, and the potential for operational improvements and strategic value creation under the newly confirmed CEO. Taken together, these elements justify maintaining a Buy rating and a price objective that implies notable upside from the current share price.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $63.00 price target.
B’s price has also changed dramatically for the past six months – from C$31.060 to C$60.130, which is a 93.59% increase.