The Globe and Mail reports in its Wednesday, July 3, edition that Citi analyst Alexander Hacking, ahead of second quarter earnings season in the northern American metals and mining sector, thinks the Street's expectations are "generally too high" for base metals. The Globe's David Leeder writes in the Eye On Equities column that Mr. Hacking says in a note: "On the other side, bulks prices remained strong, especially iron ore. Investors remain broadly cautious on metals and mining equities. The key macro theme is U.S.-China trade where significant uncertainty remains. The key micro theme is FCF generation." As a result, Mr. Hacking boosted his share target for Barrick Gold to $16 (U.S.) from $12.50 (U.S.). Analysts on average target the shares at $14.80 (U.S.). Mr. Hacking rates Barrick Gold "neutral." Mr. Hacking adds: "Barrick is the second largest gold miner in the world with a core of assets in North America, South America and Africa. The company operates low cost mines but has struggled with poor capital allocation and execution in recent years. The merger with Randgold and appointment of the new management team is a clear positive."