CIBC Raises Barrick Mining (B) PT to $71 Following Gold Forecast Revision

Barrick Mining Corporation (NYSE:B) is one of the most undervalued Canadian stocks to buy according to hedge funds. On February 4, CIBC raised its price target for Barrick Mining to $71 from $50, while keeping an Outperformer rating. As with its other precious metals updates, the firm adjusted its targets following a significant upward revision of its gold price forecasts to $6,000 per ounce for 2026 and $6,500 for 2027.

CIBC also increased its copper price assumptions. The firm noted that although demand drivers from 2025 are expected to persist, the 2026 outlook is characterized by heightened geopolitical uncertainty.

On January 26, Scotiabank raised the price target for Barrick Mining Corporation (NYSE:B) to $63 from $43 with an Outperform rating. This adjustment is part of an update to the firm’s price targets for the gold and precious minerals sector, reflecting higher forecasts for both gold and silver. The firm noted that these revised projections are driven by persistent economic and geopolitical uncertainty.

Barrick Mining Corporation (NYSE:B) explores, develops, produces, and sells 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.