Canaccord Genuity Reiterates a Buy Rating on Barrick Mining Corporation (B)

Barrick Mining Corporation (NYSE:B) is one of the most profitable gold stocks to buy right now. On July 23, Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Barrick Mining Corporation (NYSE:B) and set a price target of C$39.00.

Barrick Mining Corporation (NYSE:B) reported on July 10 that the construction of the $2 billion Super Pit Expansion Project at the company’s Lumwana mine is “well underway”, expediting its transformation into a Tier One copper mine.

Management stated the Lumwana mine was an underperforming and high-cost mine in 2019, which has now developed into a “growing force in African copper” and is set to “join the world’s list of large and strategically important copper mines, and a powerful driver of growth for both Zambia and Barrick.”

Barrick Mining Corporation (NYSE:B) is a Canada-based gold and copper producer and seller. The company also engages in related activities, such as exploration and mine development.

It has ownership interests in producing gold mines in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania, and the United States.

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