Barrick Mining (B) PT Raised to $26 at Scotiabank

Scotiabank analyst Tanya Jakusconek raised the price target on Barrick Mining (NYSE: B) to $26.00 (from $25.00) while maintaining a Sector Perform rating.

The analyst commented: "For Barrick’s valuation to improve, we believe the company needs to deliver on its operating targets. The critical operating performance is 2H/25, as the company moves to producing 54% of its annual production at significantly lower costs (q/q improvement), with the main key operating drivers coming from NGM, Kibali, and Pueblo Viejo operations. On the exploration front, the Fourmile deposit continues to grow, with excellent exploration upside, including management’s commentary on the potential to double the current resource by year-end given recent drilling. This asset, located in Nevada, should ultimately add significant value to the company (our target price increase reflects further value for the additional ounces mentioned on the conference call). In the short term, we maintain our Sector Perform rating as we want to see B deliver on operating results."

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