BofA upgraded Barrick Mining (B) to Buy from Neutral with a price target of $48, up from $38, citing an increased focus on capital return, a strategic redirection of the business to developed market from emerging market jurisdictions, and expected improvement in Nevada Gold Mines’ 2026 unit costs. The firm also cites what it views as “still underappreciated upside” from the Fourmile project and an attractive relative valuation to senior peers
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