Bullish Outlook for Barrick Gold as JPMorgan Initiates Coverage

Barrick CA06849F1080

Ahead of its quarterly earnings release, Barrick Gold Corporation has received a significant vote of confidence from Wall Street. JPMorgan Chase & Co. has commenced coverage on the Canadian gold miner's stock, assigning it an "Overweight" rating and setting a price target that implies substantial upside from current trading levels. The bank's analysts point to the company's high-quality asset portfolio and robust cash generation capabilities as key drivers for their optimistic stance.

Market attention is now firmly fixed on February 5, 2026, when Barrick is scheduled to publish its financial results for the fourth quarter of 2025. Expectations among market experts are elevated. Consensus estimates project earnings per share (EPS) to reach approximately $0.89, with revenue expected around $5.15 billion. This would represent a notable sequential improvement from the third quarter, during which the company reported EPS of $0.58 and revenue of $4.19 billion, marking a 23% year-over-year increase.

JPMorgan's Analysis and Price Target

On January 29, 2026, JPMorgan formally initiated its coverage of Barrick Gold. The firm established a price target of $68 per share. This target sits roughly 30% above the stock's closing price of $52.05 on the prior Thursday. In its research, the investment bank emphasized the value of Barrick's long-life mining assets, which continue to generate solid free cash flow even within the prevailing market environment. Despite this positive analyst initiation, Barrick's shares declined by 1.7% on Thursday, moving in tandem with a broader market downturn.

Key Data Points:
* JPMorgan Price Target: $68 (Upside Potential: ~30%)
* Q4 2025 Earnings Date: February 5, 2026
* Quarterly Dividend: $0.175 per share (recently increased)
* Dividend Yield: Approximately 1.3%
* Institutional Ownership: Around 90%

Capital Returns and Leadership Transition

Barrick recently raised its quarterly dividend payout to $0.175 per share, which translates to an annualized distribution of $0.70. At current price levels, this provides a dividend yield of about 1.3%. Ownership of the company is heavily concentrated among institutional investors, who hold approximately 90% of all shares. Notably, TD Waterhouse Canada increased its stake by about 39% during the third quarter of 2025. Furthermore, a leadership change is on the horizon: Helen Cai is set to assume the role of Chief Financial Officer on March 1, 2026.

The confluence of supportive analyst commentary, imminent earnings, and an enhanced dividend is likely to keep Barrick Gold in the spotlight for investors in the near term.

@ boerse-global.de | CA06849F1080 BULLISH