Barrick Mining: Hold Rating Amid Asset Disposals and Capital Expenditure Plans

BMO Capital analyst Matt Murphy has maintained their neutral stance on B stock, giving a Hold rating on August 29.

Matt Murphy’s rating is based on a combination of factors, including Barrick Mining’s recent asset disposals and the expected improvement in operating results in the latter half of 2025. The sale of the Hemlo asset has been slightly accretive to the company’s net asset value, although the overall impact is modest. Despite the positive momentum from these disposals, Barrick is embarking on several capital expenditure programs, which may limit its performance relative to peers in the near term.
Murphy has increased the target price for Barrick to C$37, reflecting a modest improvement in outlook and current trends in gold mining equities. However, he maintains a Hold rating, indicating that while there are positive developments, the stock is expected to perform in line with the market. This balanced view takes into account both the potential for sequential operational improvements and the ongoing investment commitments that Barrick is undertaking.

According to TipRanks, Murphy is a top 100 analyst with an average return of 27.7% and a 73.77% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Barrick Mining, Ero Copper, and Agnico Eagle.

In another report released on August 29, Bank of America Securities also maintained a Hold rating on the stock with a $29.00 price target.