7/103 sources · 2 publishersUpdated Oct 22, 17:20 UTC
Freedom Broker downgrades Barrick to Hold and cuts price target to $46
Freedom Broker lowered its rating on Barrick Mining to Hold and reduced its price target from $54 to $46. The broker also trimmed its third‑quarter forecasts to $5.13 billion of revenue, $3.46 billion of adjusted EBITDA and $0.81 of adjusted EPS. The downgrade sent Barrick shares down about 5.5%‑5.7% in trading.
Why it matters
The lower price target and reduced estimates may pressure the stock and prompt investors to reassess valuation, as the broker’s target now sits below the Street’s consensus. The downgrade to Hold also removes a buy recommendation from the broker’s coverage list.
Key facts
- 1Freedom Broker downgraded Barrick Mining to Hold from Buy. investing.com
- 2The broker cut its price target to $46.00 from $54.00. investing.com
- 3Third‑quarter revenue forecast was reduced to $5.13 billion. investing.com
- 4Adjusted EBITDA forecast for the quarter was cut to $3.46 billion. investing.com
- 5Adjusted EPS forecast for the quarter was cut to $0.81. investing.com
- 62027 adjusted EBITDA estimate was lowered to $16.1 billion. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.