Matt Murphy, an analyst from BMO Capital, maintained the Hold rating on Barrick Mining. The associated price target is C$31.00.
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Matt Murphy’s rating is based on a combination of factors, including Barrick Mining’s recent operational performance and future prospects. The company’s gold production is expected to align with guidance, but unit costs are anticipated to exceed expectations, which presents a mixed outlook. On the positive side, the copper segment is performing well, with production surpassing the midpoint of guidance and costs remaining low.
Additionally, Barrick Mining is expected to see sequential improvements in its operating results in the second half of the year, driven by increased production and reduced downtime. The company is also making significant progress with its Fourmile project, which could become a major gold discovery. However, ongoing asset sales and unresolved issues in Mali add some uncertainty to the overall picture. Therefore, Matt Murphy has given a Hold rating, reflecting a cautious but optimistic stance on Barrick Mining’s potential performance.
B’s price has also changed moderately for the past six months – from $17.070 to $22.840, which is a 33.80% increase.