Canaccord Upgrades Barrick Mining (B) Outlook as Q3 Earnings Align with Expectations

Group 1 - Barrick Mining Corporation is currently viewed as a highly profitable value stock, with price targets raised by Canaccord to C$70 and by UBS to $47, both maintaining a Buy rating [1][2] - In Q3 2025, Barrick reported a 4% increase in gold production to 829,000 ounces and a 9% decrease in all-in sustaining costs to $1,538 per ounce, generating $5 billion in operating cash flow year-to-date [2][3] - The company is focusing on significant gold discovery at Fourmile in Nevada, increasing the exploration budget by $10 million and operating 16 drill rigs to double existing resources by year-end [3] Group 2 - Barrick Mining is progressing with the Lumwana Super Pit expansion and plans to sell its Hemlo and Tongon assets by the end of 2025 to streamline its portfolio [3] - The company has a net cash position at the end of Q3, with earnings per share (EPS) of $0.58 and revenues of $4.15 billion, although revenue missed Street estimates by $212.25 million [2]