
Barrick Gold (GOLD) Stock Forecast & Price Target
Barrick Gold (GOLD) Analyst Ratings
Bulls say
Barrick Gold's production metrics show a strong performance with nearly 4.1 million attributable ounces of gold and approximately 420 million pounds of copper produced in 2023, while the company anticipates a substantial increase in Q4 production due to initiatives like the Pueblo Viejo expansion. The firm has significant reserves, boasting about two decades of gold reserves and promising copper projects such as Reko Diq, which has the potential to double copper production by the end of the decade. Additionally, ongoing asset optimization and organic growth projects are expected to drive Barrick Gold's performance, positioning it favorably against peers in the coming year.
Bears say
Barrick Gold reported production and sales volumes that fell short of expectations for both gold and copper, leading to a reduction in its one-year target share price from USD 28.00 to USD 27.00. Contributing factors to the negative outlook include delays in key projects, lower anticipated grades at certain mines, and underperformance in copper production, with full-year results meeting only the low end of guidance. Additionally, guidance for 2024 appears weaker than previous forecasts, indicating persistent challenges that may hinder near-term financial performance.
This aggregate rating is based on analysts' research of Barrick Gold and is not a guaranteed prediction by Public.com or investment advice.
Barrick Gold (GOLD) Analyst Forecast & Price Prediction
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