UBS Upgrades Barrick Gold Corp. (GOLD) to Buy

UBS analyst Daniel Major upgraded Barrick Gold Corp. (NYSE: GOLD) from Neutral to Buy with a price target of $22.00.

The analyst comments: "We upgrade Barrick to Buy as we remain constructive on gold (LINK) and after material underperformance/de-rating in absolute terms & vs gold stocks (GDX index) we think ABX offers compelling value. At $2,900/oz ABX trades at ~5x 2025E EV/EBITDA assuming its temporarily suspended mines in Mali remain closed, representing a ~30% discount vs ABX 5yr avg & 50/20% discount vs AEM/NEM. In our view, 2025 guidance is conservative and a Mali restart would act as a positive catalyst for the stock."

For an analyst ratings summary and ratings history on Barrick Gold Corp. click here. For more ratings news on Barrick Gold Corp. click here.

Shares of Barrick Gold Corp. closed at $17.73 yesterday.

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