Analyst Confidence Rises for Barrick Amid Record Gold Prices
29.01.2026 - 05:05:04
Shares of Barrick Mining advanced in recent trading, buoyed by a robust commodity environment and a wave of positive revisions from market analysts. With gold prices trading at unprecedented levels, the focus is squarely on the extent to which the gold producer can capitalize on these favorable conditions.
The primary driver behind the recent share price movement has been a series of upward adjustments to price targets by leading financial institutions. These revisions are a direct response to the surge in precious metal prices, with spot gold recently exceeding $5,100 per troy ounce.
Key analyst actions include:
* Scotiabank, on January 26, raised its target for Barrick shares from $43 to $63, reiterating its "Outperform" rating.
* Canaccord Genuity, on January 23, increased its target for the company's Canadian-listed shares from CAD 70 to CAD 80, maintaining a "Buy" recommendation.
Market experts cite elevated long-term forecasts for both gold and silver as the core rationale. These revised commodity price assumptions significantly improve the earnings outlook for the entire mining sector and underpin the optimistic view on Barrick's financial prospects.
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Supportive Market Conditions
The company's gains occurred within a broadly positive session for resource-related equities. The S&P/TSX Composite Index closed at 33,176.07 points, with the materials and energy sectors leading the advance. Major gold producers like Barrick are natural beneficiaries of this trend.
The prevailing market sentiment is reflected in the consensus rating for the stock, which stands at "Buy." Furthermore, the company's shareholder return policy adds to its appeal. Barrick's most recent quarterly dividend payment was $0.175 per share. Based on the share price from January 27, this translates to an approximate yield of 1.81%.
Key Data and Upcoming Catalyst
For a quick reference, the essential facts are summarized below:
- Recent Intraday High (Jan 28): $53.21
- Prevailing Analyst Consensus: Buy
- Updated Scotiabank Price Target: $63.00
- Latest Quarterly Dividend: $0.175 per share
- Indicated Dividend Yield (as of Jan 27): ~1.81%
- Current Gold Price: Spot gold above $5,100 per ounce
- S&P/TSX Composite Close (Jan 28): 33,176.07 points
Attention now turns to the upcoming quarterly report, scheduled for release on February 5. This financial disclosure will provide critical insight into how effectively Barrick has translated the current powerful precious metals environment into tangible revenue and profit figures.
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