The Globe and Mail reports in its Tuesday, Nov. 25, edition that Bank of America Global Research analyst Lawson Winder, citing rising gold prices and seeing an attractive valuation, has boosted Barrick Mining to "buy" from "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Winder says Barrick has been focusing more on capital return and now possesses an enticing valuation compared with peers.
Mr. Winder sees potential catalysts from "a strategic redirection" of the business to develop its market beyond emerging market jurisdictions, and predicts an improvement in Nevada Gold Mines 2026 unit costs as well as still under-appreciated upside from the Fourmile joint-venture project in Nevada.
The analyst also emphasizes the potential for gold prices to continue to rise as macro drivers remain supportive and bullion remains under-invested, according to Bloomberg. The Globe reported on Oct. 10 that Canaccord Genuity analyst Carey MacRury was sticking with his "buy" call on Barrick Mining. It was then worth $45.96. The Globe reported on Oct. 28 that RBC Capital Markets analyst Josh Wolfson continued to rate Barrick Mining "outperform." The shares could then be had for $44.39.
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