Barrick Gold stock forecast from several brokerages indicates long-term upside, driven by robust production at Nevada Gold Mines and a strong balance sheet. Price targets are clustering between $18 and $20 for late Investors have witnessed financial gains as the global gold mining industry of the broader market has grown by 18.29% since the beginning of the year and by 31.29% in the past year. Meanwhile, the World Gold Council reports that record prices and strong investment flows helped drive a 5% year-over-year (y/y) growth in gold demand to 1,313 tonnes (t) in Q3 2024. The average LBMA gold price increased 28% yearly to a record $2,474 per ounce. Barrick Mining is currently trading at a PE ratio of 17.9x. This sits just below the Metals and Mining industry average of 18.6x and well below the peer average of 38.5x. This suggests that Barrick is valued more conservatively than many of its closest competitors. However, simple averages can be misleading because they do not reflect a company’s unique growth prospects and risk profile. Barrick Gold stock saw steady accumulation by institutional investors in Q2
