11 Most Profitable Cheap Stocks to Invest In Now

6. Barrick Mining Corporation (NYSE:B)

Forward P/E: 13.61

Profit Margin: 24.53%

Net Income: $3.58 Billion

Number of Hedge Fund Holders: 75

Barrick Mining Corporation (NYSE:B) is one of the most profitable cheap stocks to invest in now. On January 26, Scotiabank raised its price target on Barrick Mining Corporation (NYSE:B) from $43 to $63 and kept its Outperform rating on the stock.

This update came as the firm updates its price targets across the gold and precious minerals sector. Scotiabank has lifted its gold and silver price forecasts, pointing to ongoing economic and geopolitical uncertainty and strong central bank buying.

On January 23, Canaccord lifted its price target on Barrick Mining Corporation (NYSE:B) from C$70 to C$80 and maintained its Buy rating on the stock.

Earlier, on January 19, BofA Securities also raised its price target on Barrick Mining Corporation (NYSE:B) from $50 to $58 while keeping a Buy rating. The research firm raised its price targets on North American precious metals companies. BofA noted that many of the macroeconomic factors driving gold prices higher “have intensified.”

Barrick Mining Corporation (NYSE:B) is a leading mining, exploration, and development company with one of the strongest portfolios of gold and copper assets.