5 Best Gold Mining Companies to Buy With High Upside Potential

3. Barrick Mining Corporation (NYSE:B)

Stock Upside Potential: 45.06%

Number of Hedge Fund Holders: 75

Barrick Mining Corp (NYSE:B) is one of the best gold mining companies to buy with high upside potential. On April 2, analysts at Raymond James lowered their price target on Barrick Mining Corp (NYSE:B) to $61 from $62 while reiterating an Outperform rating.

The outperform rating reflects the company’s significant interest in high-quality gold mines and copper assets. Consequently, it remains well-positioned to continue generating strong cash flow. The acquisition of Randgold has exposed the company to top-tier assets and prospects for free cash flow generation.

In addition, the creation of the Nevada joint venture with Newmont consolidated management has also expanded the company’s footprint into the world’s largest gold complex. It has also opened the door to meaningful synergies. However, Barrick Gold has had to go slow on developing copper and gold projects in Pakistan due to security concerns in the region. The company plans to reduce its capital spending while maintaining active management.

Barrick Mining Corporation (NYSE:B) is a leading international mining company engaged in the exploration, development, production, and sale of gold and copper assets. It operates high-margin, long-life mines across 18 countries, with a focus on Africa, North America, South America, and Saudi Arabia.