JP Morgan maintains Overweight on Barrick Mining, lowers target to C$70

0 min read Updated on 22 Jul 2026, 12:17 AM

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Radhika SScanX News Team

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JP Morgan maintained an Overweight rating on Barrick Mining but lowered its price target to C$70 from C$79. This follows similar target reductions by Barclays to C$55 and Scotiabank to $57.

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JP Morgan analyst Bennett Moore has maintained an Overweight rating on Barrick Mining while reducing the valuation outlook. The firm lowered the price target to C$70, down from the previous target of C$79. Barrick Mining trades on the TSX under the ticker symbol ABX.

The revised target reflects an updated assessment of the company's stock potential. This adjustment follows separate moves by Barclays and Scotiabank. Barclays analyst Richard Garchitorena maintained an Equal-Weight rating but lowered the price target to C$55 from C$56. Scotiabank analyst Tanya Jakusconek maintained a Sector Outperform rating while cutting the price target to $57 from $63.

Analyst Ratings and Targets

Firm	Analyst	Rating	Previous Target	New Target
JP Morgan	Bennett Moore	Overweight	C$79	C$70
Barclays	Richard Garchitorena	Equal-Weight	C$56	C$55
Scotiabank	Tanya Jakusconek	Sector Outperform	$63	$57

The adjustments come as market conditions evolve, though the underlying theses for the stock remain supportive across the firms.

What specific market conditions are driving the consensus among analysts to lower price targets?

How might these revised valuations impact investor sentiment toward Barrick Mining in the short term?

What operational or financial factors could influence future adjustments to these price targets?

Read Next Article

Barrick Mining to invest C$20.9m in Kingfisher Metals private placement

0 min read Updated on 21 Jul 2026, 06:10 PM

Reviewed by

Suketu GScanX News Team

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AI Summary

Barrick Mining Corporation has agreed to subscribe for 15,470,934 units of Kingfisher Metals Corp in a non-brokered private placement at C$1.35 per unit, totaling approximately C$20,885,761. Each unit comprises one common share and one-half of a common share purchase warrant exercisable at C$1.70 per share for two years. Post-transaction, Barrick will own about 9.9% of Kingfisher on a non-diluted basis and 14.1% on a partially-diluted basis.

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Barrick Mining Corporation has agreed to invest approximately C$20,885,761 in Kingfisher Metals Corp through a non-brokered private placement. The investment involves the subscription of 15,470,934 units at a price of C$1.35 per unit. This strategic move will result in Barrick holding a significant equity stake in Kingfisher, strengthening its position in the metals sector.

Transaction Details

Each unit subscribed to by Barrick consists of one common share and one-half of a common share purchase warrant. The warrants issued will entitle the holder to acquire one additional common share at a price of C$1.70 per share for a period of two years from the date of issuance.

Post-Transaction Ownership

Currently, Barrick does not hold any shares in Kingfisher Metals Corp. Following the closing of the private placement, the ownership structure will shift considerably. Barrick will acquire a substantial interest in the company through the purchased units and the associated warrants.

Basis	Ownership Percentage
Non-diluted	9.9%
Partially-diluted	14.1%

The partially-diluted ownership percentage assumes the exercise of all warrants held by Barrick. The transaction marks a significant development in the relationship between the two mining entities.

How might this investment influence Barrick's long-term strategy in the metals sector?

What potential synergies could arise between Barrick and Kingfisher Metals Corp?

Could this move signal further consolidation in the metals industry?