Analysts Raise Barrick Mining (B) Price Targets

Core Viewpoint - Barrick Mining Corporation (NYSE:B) is recognized as one of the most profitable cheap stocks to invest in, with multiple analysts raising their price targets due to favorable market conditions for gold and precious metals [1][2][3]. Group 1: Price Target Increases - Scotiabank raised its price target on Barrick Mining from $43 to $63 while maintaining an Outperform rating, reflecting an overall positive outlook for the gold and precious minerals sector [1]. - Canaccord increased its price target on Barrick Mining from C$70 to C$80, keeping a Buy rating on the stock, indicating strong confidence in the company's performance [2]. - BofA Securities raised its price target from $50 to $58 while maintaining a Buy rating, citing intensified macroeconomic factors driving gold prices higher [3]. Group 2: Market Conditions - Analysts attribute the upward revisions in price targets to ongoing economic and geopolitical uncertainty, as well as strong central bank buying of gold and silver [1][3]. - The overall sentiment in the precious metals market is bolstered by a strong portfolio of gold and copper assets held by Barrick Mining [3].