Barrick Gold Stock Draws Attention After UBS Upgrade Highlights Mali Deal As Catalyst – Retail Remains Skeptical

The upgrade comes after Reuters reported that Barrick had signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets.

Barrick Gold Corp. (GOLD) shares edged higher by as much as 0.7% in pre-market trade on Wednesday after UBS upgraded the stock to ‘Buy’ from ‘Neutral,’ maintaining a price target of $22. 

The price target implies an upside of 24% from Tuesday’s closing.

The brokerage said that Barrick shares offer “compelling value” in its report, according to TheFly.

UBS noted that the gold miner’s 2025 guidance is conservative, and recent news of the company's operations in Mali being restored should act as a positive catalyst for the stock.

In  February, Reuters reported that Barrick had signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets.

The Malian government had accused Barrick of unpaid dues and unspecified social and environmental violations, initially demanding $500 million in back taxes—a figure later raised to $5.5 billion.

Sources said that Barrick has signed the agreement and it is now up to Mali's government to formally approve the deal.

Under the new deal, Barrick will have to pay a total of 275 billion CFA ($438 million) to the Mali government, in return for the release of detained employees, seized gold, and restarting the operations at the Loulo-Gounkoto mine.

Barrick Gold retail sentiment and message volume on March 5 as of 9:00 a.m. ET | Source: Stocktwits

On Stocktwits, retail sentiment around Barrick’s stock dipped further into the ‘bearish’ zone. 

According to platform data, message count on the ticker increased by 31% in the last 24 hours. 

A Stocktwits user expressed disappointment over the shares’ lack of movement, lamenting that they’ve been holding losses since $20.50.

The stock has gained over 12% this year and around 17% over the past year. 

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