Stifel Lifts Barrick Mining Price Target 46% to C$95
Stifel raised its price target on Barrick Mining to C$95 from C$65 after the company reported Q4 2025 revenue of US$6 billion, up 45% sequentially and 65% year-over-year. Barrick closed 2025 with US$2 billion net cash, 3.26 million ounces gold production and plans partial North American IPO by Q4 2026.
1. Analyst Upgrade and Price Target Increase
On February 10, Stifel raised its price target on Barrick Mining to C$95 from C$65 and maintained its Buy rating, reflecting an improved outlook for revenue growth and asset valuation.
2. Q4 2025 Earnings Results
Barrick reported Q4 2025 revenue of US$6 billion, marking a 45% sequential increase and a 64.5% year-over-year gain driven by higher gold production and a 21% rise in realized gold prices.
3. Production and Financial Position
Operationally, Barrick produced 3.26 million ounces of gold for the full year and achieved a 13% quarterly increase in copper output; it closed 2025 with US$2 billion in net cash and reserves of 85 million ounces of gold and 18 million tons of copper.
4. IPO Plans
The company plans a partial IPO of its North American assets by Q4 2026 to address perceived undervaluation and unlock shareholder value.