The Globe and Mail reports in its Friday, May 10, edition that TD Securities analyst Greg Barnes has maintained his rating on Barrick Gold ($21.06) at "hold" (all figures Canadian unless otherwise stated). The Globe's Shirley Won writes in the Eye On Equities column that Mr. Barnes upgraded his target on Barrick shares by $2 (U.S.) to $24 (U.S.). The average street target, according to The Globe, is $29.21. Barrick is close to an agreement with the government in the Dominican Republic that would see it receive higher revenue from its Pueblo Viejo mine. Mr. Barnes says, "We expect that reaching a deal should lift uncertainty and improve sentiment towards Barrick." The Globe reported CIBC analyst Barry Cooper's call to buy Barrick on Nov. 2, 2011. The stock was then worth $50.30. Mr. Cooper rated the stock "outperform," with a $70 (U.S.) target. He said at gold's current price, Barrick was trading at less than 10 times earnings for both 2011 and 2012. The Globe reported on Nov. 24, 2011, that Barrick was a top gold pick at Wickham Investment Counsel. It was then worth $50.23. Canaccord Genuity analyst Steven Butler turned bearish on Barrick in The Globe on Jan. 18, 2012. The shares could then be had for $48.75.
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