Analyst Upgrade and Record Gold Price Fuel Barrick Gold’s Momentum

A significant upgrade from DZ Bank has provided fresh impetus for Barrick Gold Corporation’s shares, coinciding with a surge in the price of gold to unprecedented levels. This dual catalyst is prompting market participants to evaluate the stock’s remaining potential at current valuations.

The company’s recent financial results underpin the positive sentiment. For the third quarter, Barrick reported earnings per share (EPS) of $0.58, narrowly surpassing the consensus estimate of $0.57. Revenue saw substantial year-over-year growth, climbing 23.2% to $4.19 billion.

Operational improvements are also in focus. The introduction of new flotation technology at the Lumwana copper project is anticipated to enhance efficiency. Financially, the company maintains a robust Read more...