CIBC Raises PT on Barrick Mining Corporation (B) Due to Strong Momentum

Barrick Mining Corporation (NYSE:B) has attracted significant hedge fund interest, making it one of the 11 Best Mineral Stocks to Buy According to Hedge Funds.

CIBC Raises PT on Barrick Mining Corporation (B) Due to Strong Momentum

A closeup view of a large gold mine, illustrating the company’s gold properties.

Barrick Mining Corporation (NYSE:B) has shown a strong momentum in the past year, with its share price soaring to a 52-week high of $21.60 on July 7, 2025. The company’s share price is up 37.84% and 15.88% on a YTD basis and 1-year basis. This comes amid the strong momentum in gold equities, which have risen over 46% on a YTD basis, compared to the 14.54% broader market gain.

As such, CIBC, on July 15, 2025, raised its price target on Barrick Mining Corporation (NYSE:B) from $24 to $28, maintaining a ‘Neutral’ rating.

Meanwhile, Barrick Mining Corporation (NYSE:B) is making significant progress in the copper market with its $2 billion Lumwana Super Pit Expansion, which will double production to 240,000 tons annually. The expansion includes a new processing plant and infrastructure upgrades to the mine, which has already contributed over $4 billion to Zambia since 2019.

Based in Toronto, Canada, Barrick Mining Corporation (NYSE:B) explores for gold, copper, silver, and energy materials. It is included in our list of the Best Material Stocks.

While we acknowledge the potential of B to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than B and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Cheap Stocks to Buy According to Billionaire Ray Dalio and 11 Best Mineral Stocks to Buy According to Hedge Funds.

Disclosure: None.