Barclays Maintains Overweight Rating for Barrick Gold: Here's What You Need To Know

Barclays has decided to maintain its Overweight rating of Barrick Gold GOLD and raise its price target from $26.00 to $28.00.

Shares of Barrick Gold are trading down 1.48% over the last 24 hours, at $18.91 per share.

A move to $28.00 would account for a 48.03% increase from the current share price.

About Barrick Gold

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2022, the firm produced nearly 4.1 million attributable ounces of gold and about 440 million pounds of copper. At end 2022, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.