TD Cowen analyst Steven Green maintained a Buy rating on Barrick Mining yesterday and set a price target of $46.00.
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Steven Green’s rating is based on several compelling factors that suggest a promising outlook for Barrick Mining. The company is currently valued attractively, which presents a potential opportunity for investors looking for growth in the mining sector. Additionally, Barrick Mining’s renewed focus on North American operations, particularly in Nevada, is expected to drive significant upside potential.
The company’s recent re-capitalization efforts are seen as a positive initial step towards strengthening its financial position. This strategic move is anticipated to enhance Barrick’s ability to capitalize on future opportunities and improve its overall market competitiveness. These elements combined have led Steven Green to confidently assign a Buy rating to Barrick Mining’s stock.
Green covers the Basic Materials sector, focusing on stocks such as Barrick Mining, Newmont Mining, and Agnico Eagle. According to TipRanks, Green has an average return of 9.1% and a 49.20% success rate on recommended stocks.
In another report released on November 11, Stifel Nicolaus also maintained a Buy rating on the stock with a C$65.00 price target.