Barrick Mining keeps 'Outperform' rating as gol... - Pluang

AI desk brief

Bernstein kept Barrick Mining at Outperform but cut its price target to $56.50 from $61, citing a mixed setup: Q2 gold production rose 11% to 796,000 oz, yet rising costs and a flat 2026 production outlook temper the case. The stock is said to trade at a 15% discount to the industry average forward earnings multiple, but recent share weakness has tracked falling gold prices.

For the desk, the report is mildly supportive for supply-side sentiment given stronger output, but the near-term equity read-through is balanced by cost inflation and the lack of growth beyond this year.