Key Highlights:
- Barrick Gold (GOLD, Financial) considers selling its Hemlo mine in Ontario, shifting focus to high gold prices.
- Analysts predict an average price target for Barrick Gold of $23.81, a potential 19.25% increase.
- GuruFocus estimates suggest a 10.62% upside based on the GF Value metric.
Barrick Gold's Strategic Shift: Eyeing Global Opportunities
Barrick Gold (NYSE: GOLD) is weighing the decision to sell its Hemlo gold mine located in Ontario, Canada. This move underlines a strategic pivot to capitalize on soaring gold prices. Notably, Hemlo accounted for 3.5% of Barrick's total gold production last year, marking its significance as the last operational mine in Canada amidst an increasingly global focus.
Price Projections from Wall Street Analysts
Wall Street analysts offer insights into Barrick Gold Corp's (GOLD, Financial) market prospects, setting a one-year average target price at $23.81. The projections come with a high estimate of $31.50 and a low at $19.00, pointing to a potential upside of 19.25% from the current stock price of $19.97. For comprehensive estimate data, investors can explore the Barrick Gold Corp (GOLD) Forecast page.
Analyst Ratings: An Outperform Recommendation
The consensus from 16 brokerage firms places Barrick Gold Corp's (GOLD, Financial) average brokerage recommendation at 2.1, leaning towards an "Outperform" rating. This scale ranges from 1 to 5, where a score of 1 reflects a Strong Buy and 5 signals a Sell recommendation, affirming market confidence in Barrick's strategic direction and growth potential.
Valuation Insights: GuruFocus GF Value Metric
According to GuruFocus estimates, the GF Value for Barrick Gold Corp (GOLD, Financial) is projected at $22.09 over the next year. This suggests a potential upside of 10.62% from the current market price of $19.97. The GF Value is a key indicator, providing a calculated fair value based on historical trading multiples, past business growth, and future performance estimates. For more detailed valuation metrics and company insights, visit the Barrick Gold Corp (GOLD) Summary page.
