CIBC Boosts Barrick Mining Price Target to $28, Keeps Neutral Rating

CIBC raised Barrick Mining's price target to $28 from $24 and maintained a Neutral rating. The upgrade reflects the company's strong operational performance and positive outlook for gold prices.

CIBC has raised its price target for Barrick Mining (NYSE:B) to $28 from $24, while maintaining a Neutral rating. The upgrade reflects the company's strong operational performance and the positive outlook for gold prices [1].

The Canadian Imperial Bank of Commerce (CIBC) analysts cited Barrick Mining's robust financial results and the favorable market conditions for gold as the primary drivers behind the revised target. The company reported earnings per share of $0.35 for the quarter, surpassing analyst estimates by $0.06. This performance, coupled with a 13.9% year-over-year increase in revenue, underscores Barrick Mining's operational efficiency and growth potential.

CIBC's decision to raise the price target comes amidst a generally bullish sentiment among analysts. Stifel Canada, Wall Street Zen, and Royal Bank of Canada have all upgraded Barrick Mining to a Strong-Buy rating, while Citigroup has reduced its target price to $17.00 with a Neutral rating. Despite these varying opinions, the consensus target price stands at $24.41, reflecting a Moderate Buy rating [1].

Barrick Mining's strong financial performance and the positive outlook for gold prices have also drawn the attention of institutional investors. Several hedge funds and investment management firms have recently increased their stakes in the company, indicating confidence in its future prospects [1].

The company's operational efficiency and growth potential are further highlighted by its financial metrics. Barrick Mining has a current ratio of 2.87, a quick ratio of 2.16, and a debt-to-equity ratio of 0.14, indicating a strong financial position. Additionally, the company's market capitalization stands at $36.10 billion, with a P/E ratio of 15.82 and a price-to-earnings-growth ratio of 0.34 [1].

In conclusion, CIBC's decision to raise the price target for Barrick Mining reflects the company's strong operational performance and the positive outlook for gold prices. While the Neutral rating suggests a cautious approach, the upgrade highlights the potential for growth and the company's robust financial position.

References:
[1] https://www.marketbeat.com/instant-alerts/barrick-mining-nyseb-price-target-raised-to-2800-at-cibc-2025-07-15/