The Globe and Mail reports in its Tuesday, July 31, edition that RBC analyst Stephen Walker has become more cautious on Barrick Gold ($11.15), cutting his rating to "sector perform" from "outperform" (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that Mr. Walker cut his share target to $14 from $16. Analysts on average target the shares at $14.71. Mr. Walker says in a note: "After successfully executing the restructuring, decentralizing, and strengthening the balance sheet over the last three years, Barrick's strategy is becoming more tactical. We expect management and the board to be more focused on capital allocation decisions, including a return of capital and buy or build decisions. The challenge for share price performance during this period is the uncertainty that currently exists around strategic issues." Mr. Walker has several concerns: Ongoing negotiations with the Tanzanian government over for Acacia Mining's operations; no reference to the $5-billion debt target in the 2018 second quarter report likely signals alternate uses for cash, whether returns of capital or new investments; and the need for a new president and "articulating strategic priorities."