Barrick Gold Wins Analyst Backing Ahead of Q3 Results; Loulo Mine Resumes Operations
Barrick Gold Corporation has seen a surge in analyst support, with several firms raising their price targets and ratings ahead of the company's upcoming third-quarter results. Meanwhile, operations at the Loulo mine in Mali have resumed after months of suspension due to payment disputes with contractors.
UBS Group and Royal Bank of Canada both increased their price targets for Barrick Gold, with UBS raising its target from $35 to $39 and RBC from $34 to $38. Both firms maintained 'Buy' or 'Outperform' ratings. Stifel Nicolaus also set a price target of 65 Canadian dollars for the company.
Harbour Investments Inc. showed confidence in Barrick Gold by investing $380,000 in the company. Ritholtz Wealth Management also opened a new position in Barrick Gold, indicating positive sentiment from investment firms.
The Loulo-Gounkoto complex in Mali, Barrick Gold's key operation, recently resolved payment disputes with contractors Sandvik and Maxam. This has allowed blasting operations to resume at the underground Loulo mine after months of suspension. During the suspension, the Loulo mine managed to produce 1.07 metric tons of gold from existing ore stockpiles.
Barrick Gold is set to release its third-quarter 2025 results on November 10, following positive analyst recommendations and the resumption of operations at the Loulo mine. The company's stock price may see an increase, with an average price target of 36.34 USD, representing an approximate 4.56% upside from the last closing price of 34.76 USD.
