Analysts Raise Barrick Mining (B) Price Targets

Barrick Mining Corporation (NYSE:B) is one of the 11 Most Profitable Cheap Stocks to Invest In Now. On January 26, Scotiabank raised its price target on Barrick Mining Corporation (NYSE:B) from $43 to $63 and kept its Outperform rating on the stock.

This update came as the firm updates its price targets across the gold and precious minerals sector. Scotiabank has lifted its gold and silver price forecasts, pointing to ongoing economic and geopolitical uncertainty and strong central bank buying.

On January 23, Canaccord lifted its price target on Barrick Mining Corporation (NYSE:B) from C$70 to C$80 and maintained its Buy rating on the stock.

Earlier, on January 19, BofA Securities also raised its price target on Barrick Mining Corporation (NYSE:B) from $50 to $58 while keeping a Buy rating. The research firm raised its price targets on North American precious metals companies. BofA noted that many of the macroeconomic factors driving gold prices higher “have intensified.”

Barrick Mining Corporation (NYSE:B) is a leading mining, exploration, and development company with one of the strongest portfolios of gold and copper assets.

While we acknowledge the potential of B as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best 5G Stocks to Invest In According to Hedge Funds and 12 Best American Energy Stocks to Buy Now.

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