BMO Capital Maintains Outperform Rating for Barrick Gold: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
BMO Capital has maintained its Outperform rating for Barrick Gold (NYSE:GOLD) but reduced its price target from $28.00 to $27.00. Barrick Gold's shares have fallen 2.57% to $15.55. The new target implies a potential 73.63% upside. Barrick Gold, a major gold miner, produced 4.1 million ounces of gold and 440 million pounds of copper in 2022, with significant reserves and operations in 19 countries.
January 17, 2024 | 5:00 pm
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BMO Capital maintains Outperform rating on Barrick Gold but lowers price target from $28 to $27. Shares recently traded down 2.57% at $15.55.
The maintenance of an Outperform rating by BMO Capital suggests a positive outlook on Barrick Gold's stock, indicating confidence in the company's fundamentals and future performance. However, the reduction in the price target could reflect a slightly more conservative view on the stock's valuation or potential headwinds. Despite the recent dip in share price, the new price target still represents a significant upside, which could attract investors looking for growth opportunities.
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