Barrick Gold price target lowered to $26 from $26.50 at Raymond James

Raymond James lowered the firm’s price target on Barrick Gold (GOLD) to $26 from $26.50 and keeps an Outperform rating on the shares. Barrick has a controlling interest in numerous high-quality gold mines and copper assets that allows it to generate good cash flow, and he no-premium deal with Randgold (RANGY) provided more tier-one assets and free cash flow, but also increased Barrick’s jurisdictional risk given Randgold’s large African portfolio, the analyst tells investors in a research note. The firm notes that Barrick’s production will be weighted to Q4 and doesn’t expect a significant increase in gold production for Q3.