Barrick Gold Climbs as Analysts Split on Outlook, $580M Volume Ranks 182nd in Market Activity

On September 2, 2025, Barrick Gold (B) rose 1.13% to $26.93, with a trading volume of $580 million, ranking 182nd in market activity. The stock’s performance aligns with recent analyst activity, as 15 Wall Street analysts have issued ratings within the last 12 months, resulting in a “Moderate Buy” consensus. Of these, six analysts recommend a hold, seven a buy, and two a strong buy, reflecting cautious optimism about the miner’s outlook.

Analysts have set an average 12-month price target of $24.85, implying a potential downside of 7.86% from current levels. Recent rating changes include a Zacks Research downgrade from “Strong-Buy” to “Hold” on August 21, while Scotiabank upgraded its target from $25 to $26 on August 13. CIBC and Cibc World Mkts also upgraded their ratings to “Outperform” or “Strong-Buy” in late July and August, signaling improved confidence in Barrick’s operational and strategic positioning.

The stock’s valuation metrics highlight its appeal in the gold sector, with a trailing P/E of 16.98 and a beta of 0.31, indicating lower volatility compared to broader markets. Analysts have cited Barrick’s strong cash reserves, operational efficiency, and exploration potential as key drivers for its relative outperformance. However, the projected downside underscores concerns about near-term macroeconomic risks and gold price volatility.

Backtesting of analyst price targets shows an average forecast of $24.85, with a range from $17 to $38. The 7.86% implied downside reflects the balance between bearish near-term scenarios and bullish long-term expectations for the gold miner.