CIBC Upgrades Rating on Barrick Mining Corporation from Neutral to Outperform, Keeps PT at $30.01

Anita Soni from CIBC raised the rating on Barrick stock following strong Q2 FY2025 results. Barrick Mining reported robust earnings per share, reaching $0.47, the highest since 2013. The increase in earnings was driven by higher production across the board, with gold output soaring 5% and copper production rising by 34% sequentially.

Barrick’s gold group performance was driven by Nevada Gold Mines, with production increasing 11% quarter-over-quarter. Pueblo Viejo also recorded a 28% production increase, influenced by progress on the expansion. The company’s copper production is growing and now expects to reach the upper end of the full year guidance range.

Barrick Mining Corporation (NYSE:B) engages in the exploration, development, production, and sale of 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.