Analyst Maintains Hold on Barrick as Strong Q1 and Buybacks Offset Project Risks; C$65 Price Target Reaffirmed
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BMO Capital analyst Matt Murphy has maintained a Hold rating on Barrick Mining with a price target of C$65. The decision is based on Barrick's strong Q1 performance and a new share repurchase program, despite ongoing project risks. Murphy highlights solid execution and balanced risk/return profile, while noting challenges with capital-intensive projects and integration issues with Newmont. Barrick's stock has risen 28.34% over the past six months, from C$50.18 to C$64.40.
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