Barrick Gold Corp (ABX)

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Barrick upgraded to Outperform at RBC raised to $28 Font size: A | A | A
8:58 AM ET 2/20/14 | Briefing.com
. RBC Capital Mkts upgrades ABX to Outperform from Sector Perform and raises their tgt to $28 from $24 following revisions to our long-term gold and silver price assumptions. They believe Barrick has the ability to Outperform peers as a result of (1) increasing free cash flow through execution on its mine plan revisions, which saw life-of-mine average grades for operating mines increase by 21% to 0.058 oz/ton from 0.048 oz/ton previously, (2) continued divestment of higher AISC assets, such as African Barrick Gold, and (3) advancement of its longer-term development projects, including Goldrush and Pascua-Lama.

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Nice $28 price target!