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.

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.

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