UBS Raises Barrick Mining (B) PT to $59 and Maintains Buy Rating

Barrick Mining Corporation (NYSE:B) is one of the best large cap stocks to buy under $50. On January 30, UBS increased its price target for Barrick Mining from $47 to $59 while maintaining a Buy rating.

A day before that, JPMorgan initiated coverage of Barrick Mining with an Overweight rating and a $68 price target, driven by a bullish outlook on gold due to central bank demand and US policy uncertainty. The firm highlighted Barrick’s world-class reserve base and strong near-term organic growth and noted that the shares currently trade at a significant discount to global peers compared to historical averages.

Furthermore, on January 26, Scotiabank increased its price target for Barrick Mining Corporation (NYSE:B) from $43 to $63 with an Outperform rating. This adjustment was made as part of a broader update to the firm’s Gold & Precious Minerals coverage, reflecting higher forecasts for gold and silver. The firm cited strong central bank purchases and ongoing economic and geopolitical uncertainty as the primary drivers for the more bullish outlook.

Barrick Mining Corporation (NYSE:B) explores, develops, produces, and sells mineral properties. The company explores for gold, copper, silver, and energy materials.

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Disclosure: None. This article is originally published at Insider Monkey.