BofA raised the firm’s price target on Barrick Gold (GOLD) to $19.50 from $18 and keeps a Neutral rating on the shares. The BofA Commodities team has refreshed its price forecasts and sees “solid base metal fundamentals drowned-out by a challenging macro backdrop,” which conversely benefits gold and silver, the analyst tells investors. Aluminum, copper and zinc supply is constrained, but while the commodities team is constructive on base metals longer term, the near-term looks uncertain on demand concerns, the analyst added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOLD:
- Barrick Gold Advances Reko Diq Project with Fluor as EPCM Partner
- Reko Dig Joint Venture selects Flour as EPCM partner
- Gold Market Pulls Back from Highs as Trump’s Tariffs Trigger Global Market Turmoil
- Barrick Gold Reports Strong Financial Performance and Announces Strategic Changes
- Barrick Gold price target raised to $26.50 from $23.50 at Raymond James
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue