Barrick Gold Corporation (GOLD, Financial) is currently exploring the sale of its final mining asset in Canada, amid a surge in gold prices. The mining giant initiated this divestment process in April, with a focus on selling its Hemlo gold mine located in Ontario.
The company has engaged the Canadian Imperial Bank of Commerce to assist in identifying potential buyers and facilitating offers from interested parties. This strategic move comes as Barrick aims to harness the benefits of increasing gold values and the growing interest in North American mining ventures.
The Hemlo mine has been a significant part of Barrick's portfolio, but the sale could streamline the company's operations and financial structure. With the global market for gold continuing to thrive, this decision represents a broader strategy to optimize assets and maximize shareholder value.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Barrick Gold Corp (GOLD, Financial) is $23.81 with a high estimate of $31.50 and a low estimate of $19.00. The average target implies an upside of 18.42% from the current price of $20.11. More detailed estimate data can be found on the Barrick Gold Corp (GOLD) Forecast page.
Based on the consensus recommendation from 16 brokerage firms, Barrick Gold Corp's (GOLD, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Barrick Gold Corp (GOLD, Financial) in one year is $22.09, suggesting a upside of 9.85% from the current price of $20.11. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Barrick Gold Corp (GOLD) Summary page.
