04:44:19 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,125,848
Close 2021-01-12 C$ 29.95
Market Cap C$ 53,254,869,148
Recent Sedar Documents

Globe says Barrick Gold maintained at "outperform"

2021-01-12 08:26 ET - In the News

The Globe and Mail reports in its Tuesday, Jan. 12, edition that RBC Dominion Securities is questioning the ability of gold prices to maintain growth in 2021. The Globe's David Leeder writes in the Eye On Equities column that RBC says in a research note: "Following gold's correction in mid-2020 from an abatement of prior speculative investment, prices have rebounded, largely reflecting a one-sided reflation trade of rising inflation absent rising nominal yields, and increasing short U.S. dollar positioning. Should positioning normalize, economic growth track favourably, or monetary conditions tighten from an exceptionally low baseline, gold price momentum in 2021 may be challenged. Nonetheless, gold equities today are well-positioned financially to withstand volatility and valuations do not factor in a continuation of current higher prices." RBC lowered its 2021 gold price forecast by 4 per cent to $1,815 per ounce, from $1,893 (all figures U.S.). Its 2022 and 2023 forecast fell by 1 per cent and 3 per cent to $1,785 and $1,750. RBC analyst Josh Wolfson cut his share target for Barrick Gold to $30 from $31. Analysts on average target the shares at $33.09. Mr. Wolfson continues to rate the shares "outperform."

© 2024 Canjex Publishing Ltd. All rights reserved.